Insider Selling: Logitech International SA (LOGI) VP Sells $489,375.00 in Stock
Logitech International SA (NASDAQ:LOGI) VP L Joseph Sullivan sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $21.75, for a total transaction of $489,375.00. Following the transaction, the vice president now directly owns 213,161 shares in the company, valued at $4,636,251.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Logitech International SA (NASDAQ:LOGI) opened at 21.73 on Wednesday. Logitech International SA has a 12-month low of $12.52 and a 12-month high of $22.42. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 27.16 and a beta of 1.19. The firm has a 50-day moving average of $21.49 and a 200 day moving average of $17.34.
Logitech International SA (NASDAQ:LOGI) last posted its earnings results on Wednesday, July 27th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. Logitech International SA had a net margin of 6.46% and a return on equity of 18.58%. On average, analysts predict that Logitech International SA will post $1.08 earnings per share for the current fiscal year.
The business also recently disclosed a dividend, which will be paid on Tuesday, September 27th. Stockholders of record on Monday, September 26th will be issued a $0.5774 dividend. This is a positive change from Logitech International SA’s previous dividend of $0.52. The ex-dividend date is Thursday, September 22nd.
Several institutional investors have recently modified their holdings of the company. Schroder Investment Management Group raised its position in shares of Logitech International SA by 18.0% in the second quarter. Schroder Investment Management Group now owns 6,265,394 shares of the company’s stock valued at $98,993,000 after buying an additional 955,525 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Logitech International SA by 7.6% in the second quarter. Vanguard Group Inc. now owns 3,335,672 shares of the company’s stock valued at $54,305,000 after buying an additional 236,026 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Logitech International SA by 51.4% in the first quarter. Renaissance Technologies LLC now owns 2,151,525 shares of the company’s stock valued at $34,231,000 after buying an additional 730,553 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Logitech International SA by 1.5% in the second quarter. Canada Pension Plan Investment Board now owns 547,853 shares of the company’s stock valued at $8,885,000 after buying an additional 8,012 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Logitech International SA during the second quarter valued at approximately $7,650,000. Hedge funds and other institutional investors own 33.78% of the company’s stock.
Several equities analysts recently issued reports on LOGI shares. Rosenblatt Securities reissued a “buy” rating and set a $22.75 price objective on shares of Logitech International SA in a report on Thursday, September 15th. Morgan Stanley raised shares of Logitech International SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Logitech International SA from $13.50 to $18.00 and gave the company an “underweight” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.44.
About Logitech International SA
Logitech International SA (Logitech) is a Switzerland-based company that, together with its subsidiaries, develops and markets hardware and software products that enable or enhance digital navigation, music and video entertainment, gaming, social networking, and audio and video communication over the Internet.
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