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

Logitech International S.A. (NASDAQ:LOGI) saw some unusual options trading activity on Tuesday. Stock traders bought 2,909 call options on the company. This is an increase of approximately 288% compared to the typical daily volume of 750 call options.

Institutional Investors Weigh In On Logitech International

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in shares of Logitech International by 86.4% during the first quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company’s stock valued at $49,349,000 after acquiring an additional 255,828 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Logitech International by 76.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,841 shares of the technology company’s stock valued at $4,373,000 after acquiring an additional 21,106 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Logitech International by 380.7% during the second quarter. Hsbc Holdings PLC now owns 122,926 shares of the technology company’s stock valued at $11,883,000 after acquiring an additional 97,353 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Logitech International by 166.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock valued at $123,759,000 after acquiring an additional 798,759 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in shares of Logitech International by 2,085.3% during the second quarter. Toronto Dominion Bank now owns 63,439 shares of the technology company’s stock valued at $6,146,000 after acquiring an additional 60,536 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Loop Capital raised their price objective on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Wedbush restated a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.14.

Logitech International Price Performance

LOGI opened at $83.99 on Wednesday. Logitech International has a fifty-two week low of $67.82 and a fifty-two week high of $102.59. The firm’s fifty day moving average price is $87.78 and its two-hundred day moving average price is $89.40. The company has a market capitalization of $13.28 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate 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 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 an increase from Logitech International’s previous annual dividend of $1.19. Logitech International’s payout ratio is currently 13.49%.

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.