Logitech International Sees Unusually Large Options Volume (LOGI)
Logitech International SA (NASDAQ:LOGI) saw unusually large options trading activity on Wednesday. Stock traders bought 762 call options on the company. This represents an increase of 1,311% compared to the typical daily volume of 54 call options.
Shares of Logitech International (NASDAQ LOGI) opened at $37.33 on Friday. Logitech International has a fifty-two week low of $24.99 and a fifty-two week high of $40.82. The company has a market cap of $5,899.62, a P/E ratio of 28.72 and a beta of 0.39.
Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, October 23rd. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.11. Logitech International had a net margin of 9.32% and a return on equity of 24.58%. The business had revenue of $634.21 million for the quarter, compared to the consensus estimate of $630.23 million. During the same period in the previous year, the firm earned $0.35 EPS. sell-side analysts expect that Logitech International will post 1.24 EPS for the current year.
A number of analysts have commented on LOGI shares. Zacks Investment Research downgraded shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.60.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Logitech International by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,600,997 shares of the technology company’s stock worth $132,012,000 after purchasing an additional 147,619 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Logitech International by 19.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,759,693 shares of the technology company’s stock worth $100,708,000 after purchasing an additional 441,947 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Logitech International by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,737,131 shares of the technology company’s stock worth $100,343,000 after purchasing an additional 139,389 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Logitech International by 35.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,234,689 shares of the technology company’s stock worth $45,429,000 after purchasing an additional 325,517 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Logitech International by 724.0% in the 3rd quarter. Macquarie Group Ltd. now owns 811,952 shares of the technology company’s stock worth $29,621,000 after purchasing an additional 713,418 shares in the last quarter. Institutional investors and hedge funds own 38.23% of the company’s stock.
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Logitech International Company Profile
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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