Logitech International (NASDAQ:LOGI) Shares Gap Up - Still a Buy?

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $77.07, but opened at $79.65. Logitech International shares last traded at $79.36, with a volume of 140,237 shares changing hands.

Analysts Set New Price Targets

LOGI has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Logitech International from $98.00 to $93.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded Logitech International from a "strong-buy" rating to a "buy" rating in a report on Monday, July 22nd. Loop Capital dropped their price objective on Logitech International from $88.00 to $81.00 and set a "hold" rating for the company in a report on Monday, October 28th. Barclays reduced their target price on Logitech International from $105.00 to $103.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Wedbush reiterated a "neutral" rating and set a $88.00 price target on shares of Logitech International in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $93.00.

Logitech International Trading Up 1.5 %

The firm has a 50 day simple moving average of $84.59 and a 200 day simple moving average of $89.17. The firm has a market capitalization of $12.37 billion, a PE ratio of 17.43, a P/E/G ratio of 1.76 and a beta of 0.81.

Logitech International Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were paid a $1.3687 dividend. This is an increase from Logitech International's previous annual dividend of $1.19. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 24th.

Insider Activity at Logitech International

In other Logitech International news, Director Guy Gecht bought 2,500 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the transaction, the director now owns 18,503 shares of the company's stock, valued at $1,500,963.36. This trade represents a 15.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Logitech International

A number of institutional investors and hedge funds have recently made changes to their positions in LOGI. Ashton Thomas Private Wealth LLC bought a new stake in Logitech International during the second quarter worth approximately $35,000. Employees Retirement System of Texas purchased a new stake in shares of Logitech International during the second quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. lifted its position in Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company's stock valued at $82,000 after acquiring an additional 495 shares during the last quarter. Transamerica Financial Advisors Inc. increased its position in shares of Logitech International by 115,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,154 shares of the technology company's stock worth $104,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Logitech International by 2,036.8% during the 2nd quarter. Blue Trust Inc. now owns 1,453 shares of the technology company's stock valued at $130,000 after purchasing an additional 1,385 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

About Logitech International

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.