Logitech International Sees Unusually High Options Volume (NASDAQ:LOGI)

Logitech International SA (NASDAQ:LOGI) was the recipient of some unusual options trading on Wednesday. Investors purchased 762 call options on the stock. This is an increase of 1,311% compared to the average daily volume of 54 call options.

Logitech International (NASDAQ LOGI) traded down $0.20 during mid-day trading on Friday, reaching $37.92. The company’s stock had a trading volume of 747,476 shares, compared to its average volume of 757,450. The stock has a market cap of $6,226.73, a price-to-earnings ratio of 29.40 and a beta of 0.74. Logitech International has a 1-year low of $28.47 and a 1-year high of $43.54.

In other news, CFO Vincent Pilette sold 81,302 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $42.35, for a total transaction of $3,443,139.70. Following the completion of the sale, the chief financial officer now directly owns 339,259 shares of the company’s stock, valued at approximately $14,367,618.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Bracken Darrell sold 96,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $43.20, for a total value of $4,147,200.00. Following the sale, the chief executive officer now directly owns 783,427 shares of the company’s stock, valued at $33,844,046.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 292,673 shares of company stock valued at $12,376,204. Insiders own 2.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board grew its holdings in Logitech International by 45.3% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 48,915 shares of the technology company’s stock valued at $1,651,000 after buying an additional 15,249 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Logitech International by 750.1% during the 4th quarter. Bank of New York Mellon Corp now owns 902,531 shares of the technology company’s stock valued at $30,471,000 after buying an additional 796,361 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Logitech International by 25.5% during the 4th quarter. Wells Fargo & Company MN now owns 41,298 shares of the technology company’s stock valued at $1,389,000 after buying an additional 8,397 shares in the last quarter. First Trust Advisors LP grew its holdings in Logitech International by 68.7% during the 4th quarter. First Trust Advisors LP now owns 106,692 shares of the technology company’s stock valued at $3,589,000 after buying an additional 43,453 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new position in Logitech International during the 4th quarter valued at about $967,000. 37.22% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on LOGI shares. BidaskClub raised Logitech International from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Zacks Investment Research raised Logitech International from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Citigroup lifted their price objective on Logitech International from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lowered Logitech International from a “neutral” rating to an “underweight” rating and set a $40.00 price objective for the company. in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.20.

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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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