SpiderRock Advisors LLC Takes Position in Logitech International S.A. (NASDAQ:LOGI)

SpiderRock Advisors LLC purchased a new position in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,948 shares of the technology company's stock, valued at approximately $1,431,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOGI. BNP Paribas Financial Markets boosted its position in Logitech International by 75.3% in the first quarter. BNP Paribas Financial Markets now owns 27,349 shares of the technology company's stock valued at $2,444,000 after buying an additional 11,751 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Logitech International by 1.6% during the 1st quarter. SG Americas Securities LLC now owns 19,056 shares of the technology company's stock valued at $1,703,000 after buying an additional 297 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Logitech International by 7.5% in the 1st quarter. QRG Capital Management Inc. now owns 29,487 shares of the technology company's stock valued at $2,635,000 after buying an additional 2,047 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Logitech International by 86.4% in the first quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company's stock worth $49,349,000 after buying an additional 255,828 shares during the last quarter. Finally, Henry James International Management Inc. raised its position in Logitech International by 17.4% during the first quarter. Henry James International Management Inc. now owns 72,698 shares of the technology company's stock valued at $6,497,000 after acquiring an additional 10,754 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Logitech International Price Performance

Shares of Logitech International stock traded down $0.44 during trading hours on Monday, hitting $78.96. The company had a trading volume of 246,036 shares, compared to its average volume of 498,033. The company's 50-day moving average is $85.40 and its two-hundred day moving average is $89.35. The company has a market cap of $12.49 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 1.82 and a beta of 0.81. Logitech International S.A. has a twelve month low of $74.72 and a twelve month high of $102.59.

Logitech International Increases Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 24th were issued a $1.3687 dividend. This is an increase from Logitech International's previous annual dividend of $1.19. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a dividend yield of 1.4%. Logitech International's payout ratio is presently 11.63%.

Insider Buying and Selling

In other Logitech International news, Director Guy Gecht acquired 2,500 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $81.12 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the director now directly owns 18,503 shares of the company's stock, valued at $1,500,963.36. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.