Traders Buy High Volume of Logitech International Call Options (NASDAQ:LOGI)

Logitech International S.A. (NASDAQ:LOGI) was the target of unusually large options trading on Tuesday. Investors bought 2,909 call options on the company. This is an increase of 288% compared to the typical daily volume of 750 call options.

Logitech International Trading Down 4.2 %

Shares of LOGI opened at $80.44 on Thursday. The firm’s 50-day moving average price is $87.70 and its 200-day moving average price is $89.37. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.47 and a beta of 0.79. Logitech International has a 1-year low of $74.00 and a 1-year high of $102.59.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, research analysts forecast that Logitech International will post 3.96 EPS for the current fiscal year.

Logitech International Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 24th were paid a dividend of $1.3687 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a yield of 1.4%. This is a positive change from Logitech International’s previous annual dividend of $1.19. Logitech International’s payout ratio is presently 13.49%.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently bought and sold shares of LOGI. Wellington Management Group LLP boosted its stake in Logitech International by 354.9% during the fourth quarter. Wellington Management Group LLP now owns 43,250 shares of the technology company’s stock worth $4,099,000 after acquiring an additional 33,742 shares in the last quarter. Vanguard Group Inc. raised its holdings in Logitech International by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after buying an additional 84,179 shares during the last quarter. Mather Group LLC. purchased a new position in Logitech International in the first quarter worth about $42,000. Park Avenue Securities LLC purchased a new position in Logitech International in the first quarter worth about $680,000. Finally, Capital Insight Partners LLC raised its holdings in Logitech International by 8.9% in the first quarter. Capital Insight Partners LLC now owns 44,874 shares of the technology company’s stock worth $4,010,000 after buying an additional 3,685 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

Analysts Set New Price Targets

LOGI has been the topic of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on Logitech International from $98.00 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Loop Capital upped their target price on Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Finally, Barclays dropped 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 report on Wednesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Logitech International currently has an average rating of “Hold” and an average price target of $94.00.

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.