Stock Traders Purchase Large Volume of Call Options on Logitech International (NASDAQ:LOGI)

Logitech International SA (NASDAQ:LOGI) was the target of unusually large options trading on Monday. Stock traders acquired 3,421 call options on the stock. This represents an increase of approximately 1,936% compared to the typical volume of 168 call options.

A number of research analysts have recently commented on LOGI shares. BidaskClub cut Logitech International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. DA Davidson set a $58.00 target price on Logitech International and gave the company a “buy” rating in a research note on Tuesday, October 15th. Citigroup set a $46.00 target price on Logitech International and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Wedbush restated a “buy” rating and issued a $46.00 target price on shares of Logitech International in a research note on Tuesday. Finally, Maxim Group restated a “hold” rating and issued a $36.00 target price on shares of Logitech International in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $45.33.

LOGI opened at $40.00 on Wednesday. The stock has a market cap of $6.58 billion, a PE ratio of 22.99, a PEG ratio of 2.31 and a beta of 1.28. The business has a 50 day moving average of $40.84 and a 200-day moving average of $39.71. Logitech International has a 52 week low of $29.06 and a 52 week high of $42.35.

Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, October 21st. The technology company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.05. Logitech International had a return on equity of 25.67% and a net margin of 9.36%. During the same period in the previous year, the firm posted $0.49 earnings per share. Sell-side analysts predict that Logitech International will post 1.93 EPS for the current fiscal year.

In other Logitech International news, CEO Bracken Darrell sold 37,344 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $40.53, for a total value of $1,513,552.32. Following the completion of the sale, the chief executive officer now owns 760,641 shares in the company, valued at approximately $30,828,779.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 72,025 shares of company stock valued at $2,950,032. Company insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Logitech International by 2.4% in the 1st quarter. FMR LLC now owns 292,734 shares of the technology company’s stock worth $11,474,000 after acquiring an additional 6,860 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Logitech International during the 2nd quarter worth $9,146,000. Summit Financial Wealth Advisors LLC acquired a new position in Logitech International during the 2nd quarter worth $935,000. Henry James International Management Inc. lifted its holdings in Logitech International by 13.4% during the 2nd quarter. Henry James International Management Inc. now owns 87,661 shares of the technology company’s stock worth $3,485,000 after buying an additional 10,333 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its holdings in Logitech International by 58.8% during the 2nd quarter. Independence Bank of Kentucky now owns 10,570 shares of the technology company’s stock worth $422,000 after buying an additional 3,915 shares in the last quarter. Institutional investors own 34.20% of the company’s stock.

Logitech International Company Profile

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.

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