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

Shares of 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.

Analyst Upgrades and Downgrades

LOGI has been the subject of a number of research reports. Loop Capital decreased their price target on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. decreased their target price on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Wedbush reaffirmed a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research note on Wednesday, October 23rd. Finally, Barclays decreased their target price on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Logitech International currently has an average rating of “Hold” and an average target price of $93.00.

Logitech International Stock Up 2.6 %

The stock’s fifty day moving average price is $84.74 and its 200 day moving average price is $89.25. The stock has a market cap of $12.50 billion, a PE ratio of 17.17, a PEG ratio of 1.76 and a beta of 0.81.

Logitech International Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were issued 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 of this dividend was Tuesday, September 24th. This represents a dividend yield of 1.4%.

Insider Activity

In related news, Director Guy Gecht bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now owns 18,503 shares of the company’s stock, valued at $1,500,963.36. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Ashton Thomas Private Wealth LLC purchased a new stake in Logitech International in the second quarter worth approximately $35,000. Employees Retirement System of Texas purchased a new stake in Logitech International in the second quarter worth approximately $63,000. Benjamin F. Edwards & Company Inc. raised its position in Logitech International by 139.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock worth $82,000 after acquiring an additional 495 shares during the period. Transamerica Financial Advisors Inc. raised its position in Logitech International by 115,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,153 shares during the period. Finally, Blue Trust Inc. raised its position in Logitech International by 2,036.8% in the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock worth $130,000 after acquiring an additional 1,385 shares during the period. Hedge funds and other 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.