Several other analysts have also commented on LOGI. Maxim Group reiterated a hold rating and set a $36.00 price objective on shares of Logitech International in a report on Wednesday, July 24th. Citigroup set a $46.00 price objective on Logitech International and gave the company a buy rating in a report on Wednesday, July 3rd. Wedbush reiterated a buy rating and set a $45.00 price objective on shares of Logitech International in a report on Thursday, July 18th. DA Davidson set a $58.00 price objective on Logitech International and gave the company a buy rating in a report on Friday, August 16th. Finally, ValuEngine upgraded Logitech International from a sell rating to a hold rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $45.17.
Shares of LOGI traded up $0.59 during midday trading on Wednesday, hitting $41.04. 105,830 shares of the company’s stock traded hands, compared to its average volume of 141,714. Logitech International has a 1 year low of $29.06 and a 1 year high of $42.35. The firm’s fifty day moving average is $40.71 and its 200-day moving average is $39.60. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28.
The company also recently announced a — dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 19th were given a $0.7446 dividend. This represents a dividend yield of 1.8%. The ex-dividend date was Wednesday, September 18th.
In related news, CEO Bracken Darrell sold 18,656 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $41.70, for a total value of $777,955.20. Following the transaction, the chief executive officer now directly owns 741,953 shares of the company’s stock, valued at approximately $30,939,440.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 72,025 shares of company stock worth $2,950,032. 1.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in shares of Logitech International by 105.4% in the 2nd quarter. Mackenzie Financial Corp now owns 261,873 shares of the technology company’s stock valued at $10,412,000 after acquiring an additional 134,354 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Logitech International in the 2nd quarter valued at $3,709,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Logitech International by 86.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 804 shares of the technology company’s stock valued at $32,000 after acquiring an additional 372 shares during the period. OneAscent Financial Services LLC acquired a new position in shares of Logitech International in the 2nd quarter valued at $355,000. Finally, Jane Street Group LLC increased its position in shares of Logitech International by 130.8% in the 2nd quarter. Jane Street Group LLC now owns 347,200 shares of the technology company’s stock valued at $13,870,000 after acquiring an additional 196,737 shares during the period. 34.18% of the stock is currently owned by hedge funds and other institutional investors.
About Logitech International
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
Further Reading: Net Margin
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