Willis Investment Counsel Trims Stock Holdings in Logitech International S.A. (NASDAQ:LOGI)

Willis Investment Counsel lessened its holdings in shares of Logitech International S.A. (NASDAQ:LOGI) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,608 shares of the technology company’s stock after selling 778 shares during the quarter. Willis Investment Counsel’s holdings in Logitech International were worth $927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LOGI. Northwestern Mutual Wealth Management Co. increased its stake in shares of Logitech International by 233.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 551 shares of the technology company’s stock worth $34,000 after buying an additional 386 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Logitech International in the 1st quarter valued at about $35,000. Belpointe Asset Management LLC acquired a new position in Logitech International in the fourth quarter worth about $51,000. State of Wyoming bought a new stake in Logitech International in the fourth quarter valued at about $75,000. Finally, Syquant Capital Sas acquired a new stake in Logitech International during the second quarter valued at approximately $74,000. 38.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LOGI shares. Loop Capital boosted their price target on Logitech International from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, July 31st. Barclays raised their price target on shares of Logitech International from $71.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Wedbush boosted their price objective on shares of Logitech International from $63.00 to $80.00 in a research report on Wednesday, July 26th. StockNews.com raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $57.00 target price on shares of Logitech International in a report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $70.25.

Logitech International Trading Up 1.8 %

LOGI traded up $1.26 during trading hours on Friday, hitting $71.53. The company’s stock had a trading volume of 1,013,144 shares, compared to its average volume of 621,852. The company has a 50-day simple moving average of $67.59 and a 200 day simple moving average of $61.81. The firm has a market capitalization of $11.31 billion, a PE ratio of 35.59 and a beta of 0.86. Logitech International S.A. has a fifty-two week low of $41.81 and a fifty-two week high of $73.70.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, July 24th. The technology company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.15. The business had revenue of $974.50 million for the quarter, compared to analysts’ expectations of $916.69 million. Logitech International had a net margin of 7.50% and a return on equity of 19.75%. Research analysts expect that Logitech International S.A. will post 2.49 earnings per share for the current fiscal year.

Logitech International Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Tuesday, September 26th will be paid a $1.1876 dividend. This is a positive change from Logitech International’s previous annual dividend of $0.98. This represents a dividend yield of 1.4%. The ex-dividend date is Monday, September 25th. Logitech International’s dividend payout ratio is currently 25.97%.

Logitech International announced that its Board of Directors has approved a stock buyback program on Wednesday, June 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 10.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Logitech International Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.