Raymond James & Associates Cuts Stake in Logitech International S.A. (NASDAQ:LOGI)

Raymond James & Associates reduced its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,415 shares of the technology company’s stock after selling 954 shares during the quarter. Raymond James & Associates’ holdings in Logitech International were worth $4,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Logitech International during the second quarter worth $35,000. Employees Retirement System of Texas acquired a new stake in shares of Logitech International during the second quarter worth $63,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock worth $82,000 after buying an additional 495 shares during the period. Blue Trust Inc. lifted its position in Logitech International by 2,036.8% during the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,385 shares during the period. Finally, Syquant Capital Sas acquired a new position in Logitech International during the second quarter valued at $184,000. 45.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOGI has been the subject of a number of research reports. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays decreased their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research report on Wednesday, October 23rd. Finally, Loop Capital decreased their target price on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $93.00.

Logitech International Stock Performance

LOGI opened at $83.45 on Friday. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $102.59. The company has a fifty day moving average of $86.34 and a two-hundred day moving average of $89.11. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.88 and a beta of 0.81.

Logitech International Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th were issued a $1.3687 dividend. This is a boost from Logitech International’s previous annual dividend of $1.19. The ex-dividend date was Tuesday, September 24th. This represents a yield of 1.4%. Logitech International’s payout ratio is presently 11.63%.

Insider Buying and Selling at Logitech International

In related news, Director Guy Gecht bought 2,500 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $81.12 per share, with a total value of $202,800.00. Following the completion of the purchase, the director now directly owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.