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

Logitech International S.A. (NASDAQ:LOGI) was the target of some unusual options trading activity on Tuesday. Investors acquired 2,909 call options on the stock. This represents an increase of 288% compared to the average daily volume of 750 call options.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wedbush restated a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research note on Tuesday, July 16th. Barclays increased their price objective on shares of Logitech International from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Loop Capital increased their price objective on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $93.14.

Hedge Funds Weigh In On Logitech International

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its position in shares of Logitech International by 7.4% during the 2nd quarter. Acadian Asset Management LLC now owns 6,665,114 shares of the technology company’s stock valued at $644,642,000 after purchasing an additional 457,630 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 period. Renaissance Technologies LLC boosted its holdings in shares of Logitech International by 8.0% in the second 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 during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Logitech International by 166.2% in the second 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 during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Logitech International by 6.7% in the second quarter. Jupiter Asset Management Ltd. now owns 601,826 shares of the technology company’s stock worth $58,214,000 after buying an additional 37,852 shares during the period. Institutional investors own 45.76% of the company’s stock.

Logitech International Stock Down 8.5 %

Shares of LOGI opened at $83.99 on Wednesday. The firm has a 50-day moving average price of $87.78 and a 200 day moving average price of $89.40. The firm has a market capitalization of $13.28 billion, a PE ratio of 21.70, a P/E/G ratio of 2.47 and a beta of 0.79. Logitech International has a 52-week low of $67.82 and a 52-week high of $102.59.

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

Logitech International Increases Dividend

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

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.