Logitech International (NASDAQ:LOGI) Shares Gap Up – Here’s Why

Logitech International S.A. (NASDAQ:LOGI) gapped up prior to trading on Thursday . The stock had previously closed at $77.07, but opened at $79.65. Logitech International shares last traded at $79.36, with a volume of 140,237 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays reduced their price objective on Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Loop Capital decreased their price objective 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 equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and an average price target of $93.00.

Logitech International Trading Down 0.8 %

The stock has a market capitalization of $12.27 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.75 and a beta of 0.81. The stock’s 50 day simple moving average is $84.44 and its 200 day simple moving average is $89.16.

Logitech International Increases Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were given a dividend of $1.3687 per share. 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 dividend yield of 1.4%. Logitech International’s dividend payout ratio (DPR) is presently 11.63%.

Insider Buying and Selling

In other news, Director Guy Gecht purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $81.12 per share, with a total value of $202,800.00. Following the transaction, the director now owns 18,503 shares in the company, valued at approximately $1,500,963.36. The trade was a 15.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Institutional Trading of Logitech International

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Logitech International by 6.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock valued at $200,000 after buying an additional 128 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Logitech International by 5.8% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,339 shares of the technology company’s stock worth $210,000 after purchasing an additional 128 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in Logitech International by 2.4% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the technology company’s stock valued at $627,000 after purchasing an additional 153 shares during the period. Public Sector Pension Investment Board grew its stake in Logitech International by 0.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock worth $6,331,000 after buying an additional 168 shares during the last quarter. Finally, Investment Management Corp of Ontario increased its position in Logitech International by 0.4% in the third quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock worth $3,629,000 after buying an additional 170 shares during the period. Institutional investors own 45.76% of the company’s stock.

Logitech International Company 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.