Insider Selling: Logitech International S.A. (NASDAQ:LOGI) Insider Sells 280 Shares of Stock

Logitech International S.A. (NASDAQ:LOGI) insider Samantha Harnett sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.09, for a total value of $22,425.20. Following the transaction, the insider now directly owns 7,648 shares of the company’s stock, valued at $612,528.32. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Logitech International Trading Down 2.2 %

Shares of LOGI stock traded down $1.76 during trading hours on Wednesday, reaching $79.25. 476,267 shares of the company’s stock were exchanged, compared to its average volume of 498,545. The stock’s 50 day moving average is $83.60 and its 200-day moving average is $89.09. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.86 and a beta of 0.81. Logitech International S.A. has a fifty-two week low of $74.72 and a fifty-two week high of $102.59.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th were given a $1.3687 dividend. This represents a dividend yield of 1.4%. This is an increase from Logitech International’s previous annual dividend of $1.19. The ex-dividend date was Tuesday, September 24th.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LOGI. JPMorgan Chase & Co. decreased their target price on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Loop Capital reduced their target price on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a report on Monday, October 28th. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Barclays dropped their price target 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. Finally, Wedbush reiterated a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Logitech International currently has an average rating of “Hold” and a consensus price target of $93.00.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently added to or reduced their stakes in LOGI. Barclays PLC boosted its stake in shares of Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after acquiring an additional 1,967,133 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Logitech International by 166.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock valued at $123,759,000 after buying an additional 798,759 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Logitech International by 7.4% in 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 buying an additional 457,630 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Logitech International in the 3rd quarter valued at about $15,891,000. Finally, Marshall Wace LLP lifted its stake in Logitech International by 57.3% in the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock valued at $43,615,000 after buying an additional 164,307 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

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.