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

Logitech International S.A. (NASDAQ:LOGI) shares 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 traded.

Analysts Set New Price Targets

Several research firms have weighed in on LOGI. Wedbush reiterated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays decreased their price objective on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Loop Capital decreased their price objective on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.00.

Logitech International Stock Performance

The company has a market capitalization of $12.50 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.76 and a beta of 0.81. The business’s fifty day simple moving average is $84.74 and its 200-day simple moving average is $89.25.

Logitech International Increases Dividend

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

Insider Buying and Selling at Logitech International

In related news, Director Guy Gecht purchased 2,500 shares of Logitech International stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $81.12 per share, for a total transaction of $202,800.00. Following the acquisition, the director now owns 18,503 shares in the company, valued at approximately $1,500,963.36. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Logitech International

A number of institutional investors and hedge funds have recently made changes to their positions in LOGI. Acadian Asset Management LLC grew its stake in shares of Logitech International by 32.7% in the 1st quarter. Acadian Asset Management LLC now owns 6,207,484 shares of the technology company’s stock worth $556,523,000 after buying an additional 1,527,984 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of 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 worth $123,759,000 after buying an additional 798,759 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Logitech International by 57.3% in the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after buying an additional 164,307 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Logitech International by 99.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 289,337 shares of the technology company’s stock worth $25,943,000 after buying an additional 144,262 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Logitech International by 8.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,623,908 shares of the technology company’s stock worth $157,324,000 after buying an additional 120,000 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

About Logitech International

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.