Logitech International S.A. (NASDAQ:LOGI) Stock Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,623,908 shares of the technology company’s stock after acquiring an additional 120,000 shares during the period. Renaissance Technologies LLC’s holdings in Logitech International were worth $157,324,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in Logitech International in the second quarter worth approximately $35,000. National Bank of Canada FI lifted its holdings in Logitech International by 529.4% in the 4th quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after acquiring an additional 360 shares during the last quarter. Mather Group LLC. bought a new position in shares of Logitech International during the 1st quarter valued at about $42,000. Blue Trust Inc. grew its stake in shares of Logitech International by 2,036.8% in the 2nd quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,385 shares during the last quarter. Finally, Syquant Capital Sas bought a new stake in shares of Logitech International in the 2nd quarter worth approximately $184,000. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Stock Performance

Shares of LOGI opened at $86.07 on Monday. The company has a market capitalization of $13.61 billion, a PE ratio of 22.24, a PEG ratio of 2.45 and a beta of 0.79. The company’s 50 day moving average price is $88.99 and its 200 day moving average price is $89.93. Logitech International S.A. has a 52 week low of $65.31 and a 52 week high of $102.59.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.78 by $0.20. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. On average, equities analysts forecast that Logitech International S.A. will post 3.96 earnings per share for the current fiscal year.

Logitech International Increases Dividend

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

Wall Street Analyst Weigh In

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

Logitech International Profile

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.