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

Logitech International S.A. (NASDAQ:LOGI) saw unusually large options trading on Tuesday. Traders acquired 2,909 call options on the stock. This represents an increase of approximately 288% compared to the average daily volume of 750 call options.

Institutional Trading of Logitech International

Institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Logitech International during the 2nd quarter valued at about $35,000. Mather Group LLC. purchased a new position in shares of Logitech International during the 1st quarter valued at about $42,000. Employees Retirement System of Texas purchased a new position in shares of Logitech International during the 2nd quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Logitech International by 139.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after buying an additional 495 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Logitech International by 2,036.8% during the 2nd quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock valued at $130,000 after buying an additional 1,385 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Stock Down 4.2 %

NASDAQ:LOGI opened at $80.44 on Thursday. The business’s 50-day moving average price is $87.70 and its two-hundred day moving average price is $89.37. Logitech International has a twelve month low of $74.00 and a twelve month high of $102.59. The stock has a market cap of $12.72 billion, a P/E ratio of 20.79, a PEG ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. On average, equities research analysts expect that Logitech International will post 3.96 EPS for the current fiscal year.

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. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a dividend yield of 1.4%. This is a boost from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio (DPR) is presently 13.49%.

Analyst Ratings Changes

Several research analysts have recently weighed in on LOGI shares. JPMorgan Chase & Co. cut their price target on Logitech International from $98.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday. Loop Capital increased their price target on Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Wedbush reiterated a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research note on Wednesday. StockNews.com downgraded Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Barclays cut their target price on Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday. Two research 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. Based on data from MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and a consensus target price of $94.00.

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.