Logitech International S.A. - Registered Shares (LOGI)

Logitech makes mice, keyboards, headsets and webcams — everything a person touches a computer with.

The category looks simple but has a peculiarity: a device is chosen by how it feels in the hand and by reliability rather than by specifications, and the brand matters more here than in electronics itself. The company sells through retail and distributors, with almost no factories of its own.

Revenue follows computer sales and the fashion for gaming peripherals, so the pandemic surge gave way to a long slump. The growing lines are video conferencing equipment for meeting rooms and gear for streaming. Risks: the computer sales cycle, import tariffs and currency rates. A dividend is paid once a year and buybacks are active.