Logitech International (NASDAQ:LOGI) Sees Strong Trading Volume – Here’s What Happened

Logitech International S.A. (NASDAQ:LOGI) saw unusually-high trading volume on Tuesday . Approximately 719,245 shares were traded during mid-day trading, an increase of 58% from the previous session’s volume of 455,133 shares.The stock last traded at $87.62 and had previously closed at $88.19.

Analysts Set New Price Targets

Several equities analysts have recently commented on LOGI shares. Wedbush reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a research note on Tuesday, July 16th. Loop Capital lifted their price target on shares of Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Barclays upped 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. Finally, StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Logitech International has a consensus rating of “Hold” and a consensus target price of $93.14.

Logitech International Stock Performance

The company’s 50-day simple moving average is $87.48 and its 200 day simple moving average is $89.42. The company has a market cap of $13.82 billion, a PE ratio of 22.59, a PEG ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last released 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. 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 during the quarter, compared to analyst estimates of $1.03 billion. Analysts forecast that Logitech International S.A. will post 3.96 EPS for the current 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 $1.3687 dividend. The ex-dividend date was Tuesday, September 24th. This is a boost from Logitech International’s previous annual dividend of $1.19. This represents a yield of 1.4%. Logitech International’s dividend payout ratio (DPR) is currently 13.49%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in Logitech International by 6.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company’s stock worth $200,000 after purchasing an additional 128 shares during the last quarter. Claro Advisors LLC lifted its position in shares of Logitech International by 6.2% during the 1st quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock worth $200,000 after buying an additional 131 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Logitech International by 2.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the technology company’s stock valued at $627,000 after buying an additional 153 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Logitech International by 0.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company’s stock valued at $6,331,000 after buying an additional 168 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in Logitech International by 5.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,510 shares of the technology company’s stock worth $340,000 after acquiring an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

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.