Renaissance Technologies LLC Raises Stake in Logitech International S.A. (NASDAQ:LOGI)

Renaissance Technologies LLC boosted its holdings in Logitech International S.A. (NASDAQ:LOGI) by 8.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,623,908 shares of the technology company’s stock after buying an additional 120,000 shares during the period. Renaissance Technologies LLC owned approximately 1.03% of Logitech International worth $157,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOGI. Acadian Asset Management LLC lifted its holdings in shares of Logitech International by 7.4% during the 2nd quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after acquiring an additional 457,630 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Logitech International by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after acquiring an additional 84,179 shares during the period. Norges Bank acquired a new stake in Logitech International in the fourth quarter valued at approximately $214,130,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Logitech International by 20.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after purchasing an additional 306,948 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Logitech International by 166.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after purchasing an additional 798,759 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Trading Up 1.3 %

NASDAQ:LOGI opened at $86.07 on Monday. The firm has a market capitalization of $13.61 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.45 and a beta of 0.79. Logitech International S.A. has a 52 week low of $65.31 and a 52 week high of $102.59. The stock has a 50 day moving average of $88.99 and a 200-day moving average of $89.93.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.20. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. As a group, analysts predict that Logitech International S.A. will post 3.96 EPS for the current fiscal year.

Logitech International Increases Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th will be paid a $1.3687 dividend. The ex-dividend date is Tuesday, September 24th. This represents a dividend yield of 1.4%. This is a positive change from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio (DPR) is presently 13.49%.

Analyst Upgrades and Downgrades

LOGI has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research note on Tuesday, July 16th. Barclays increased their price target on Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Loop Capital increased their target price on Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $93.14.

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.