Logitech International (NASDAQ:LOGI) Shares Gap Up – Should You Buy?

Logitech International S.A. (NASDAQ:LOGI)’s stock price gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on LOGI shares. Barclays cut 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, October 23rd. 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, October 23rd. Loop Capital dropped their price target on Logitech International from $88.00 to $81.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Wedbush reissued a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a report on Wednesday, October 23rd. Finally, StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $93.00.

Logitech International Stock Down 0.8 %

The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.75 and a beta of 0.81. The firm has a fifty day moving average price of $84.44 and a 200-day moving average price of $89.16.

Logitech International Increases Dividend

The firm 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 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 yield of 1.4%. Logitech International’s payout ratio is 11.63%.

Insider Activity

In related news, Director Guy Gecht acquired 2,500 shares of the stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $81.12 per share, with a total value of $202,800.00. Following the purchase, the director now directly owns 18,503 shares of the company’s stock, valued at approximately $1,500,963.36. This represents a 15.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Barclays PLC increased its stake in Logitech International by 64.2% during the third 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 during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Logitech International during the 3rd quarter worth about $15,891,000. Y Intercept Hong Kong Ltd acquired a new stake in Logitech International during the 3rd quarter worth approximately $421,000. MML Investors Services LLC raised its holdings in Logitech International by 16.3% in the third quarter. MML Investors Services LLC now owns 2,935 shares of the technology company’s stock valued at $263,000 after buying an additional 411 shares during the period. Finally, Dorsey Wright & Associates lifted its position in Logitech International by 13.0% during the third quarter. Dorsey Wright & Associates now owns 31,249 shares of the technology company’s stock valued at $2,804,000 after buying an additional 3,583 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.