Logitech International (NASDAQ:LOGI) Shares Gap Down – What’s Next?

Logitech International S.A. (NASDAQ:LOGI)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $91.81, but opened at $82.34. Logitech International shares last traded at $82.49, with a volume of 1,291,245 shares traded.

Analyst Ratings Changes

A number of brokerages recently issued reports on LOGI. Wedbush reissued a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research note on Tuesday, July 16th. Loop Capital lifted their price target on Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. Barclays upped their price objective on Logitech International from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and an average price target of $93.14.

Logitech International Stock Performance

The firm has a market cap of $13.17 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 2.47 and a beta of 0.79. The business has a fifty day simple moving average of $87.78 and a 200-day simple moving average of $89.40.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.20. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. On average, equities analysts anticipate that Logitech International S.A. will post 3.96 earnings per share for the current year.

Logitech International Increases Dividend

The firm also recently declared an annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th were given a $1.3687 dividend. This is a boost from Logitech International’s previous annual dividend of $1.19. This represents a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 24th. Logitech International’s dividend payout ratio is 13.49%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Logitech International during the second quarter worth about $35,000. Mather Group LLC. bought a new position in Logitech International during the 1st quarter worth approximately $42,000. Employees Retirement System of Texas acquired a new position in shares of Logitech International in the 2nd quarter worth approximately $63,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Logitech International by 139.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after purchasing an additional 495 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Logitech International by 2,036.8% during the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock worth $130,000 after buying an additional 1,385 shares during the period. 45.76% of the stock is owned by 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.