Logitech International (NASDAQ:LOGI) Shares Gap Down – Should You Sell?

Logitech International S.A. (NASDAQ:LOGI)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $91.81, but opened at $82.34. Logitech International shares last traded at $82.49, with a volume of 1,291,245 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. 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 note on Wednesday, August 14th. 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 research report on Wednesday, July 24th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a research report on Tuesday, July 16th. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $93.14.

Logitech International Stock Down 9.3 %

The company has a market capitalization of $13.17 billion, a P/E ratio of 21.37, a P/E/G ratio of 2.47 and a beta of 0.79. The firm’s 50-day moving average price is $87.78 and its 200 day moving average price is $89.40.

Logitech International (NASDAQ:LOGI) last released its quarterly 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 business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. As a group, equities research analysts expect that Logitech International S.A. 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 dividend of $1.3687 per share. This is a boost from Logitech International’s previous annual dividend of $1.19. The ex-dividend date was Tuesday, September 24th. This represents a dividend yield of 1.4%. Logitech International’s payout ratio is presently 13.49%.

Institutional Investors Weigh In On Logitech International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in shares of Logitech International by 32.7% in the 1st quarter. Acadian Asset Management LLC now owns 6,207,484 shares of the technology company’s stock worth $556,523,000 after acquiring an additional 1,527,984 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Logitech International by 166.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock worth $123,759,000 after purchasing an additional 798,759 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Logitech International by 86.4% in the 1st quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company’s stock valued at $49,349,000 after buying an additional 255,828 shares during the last quarter. Susquehanna International Securities Ltd. bought a new position in shares of Logitech International during the 1st quarter worth approximately $15,091,000. Finally, Marshall Wace LLP boosted its stake in shares of Logitech International by 57.3% in the 2nd quarter. Marshall Wace LLP now owns 450,897 shares of the technology company’s stock worth $43,615,000 after buying an additional 164,307 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

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.