Guy Gecht, a director at Logitech International (LOGI), recently bought 2,500 shares. The buy increased his position by 16%, and came to a total cost of $202,800.
This marks the second insider buy this year, following a 1,225 share buy form the company CFO back in May. That was a new position, and came to just under $100,000. Going further back several company insiders have been slight sellers, including the company General Council and COO.
Overall, Logitech insiders own 0.3% of shares.
The computer periphery manufacturer is up just 4% over the past year, far lagging the overall stock market. Operationally, shares have fared about the same, with earnings and revenues both up about 6%.
Logitech has a 15% profit margin, a strong level for a company in the manufacturing space. And there’s over $1.3 billion in cash on the balance sheet, with nearly no debt, making for an attractive play.
Action to take: Shares have been rangebound over the past year, and are starting to trend higher after nearing the lower end of their range. Investors can likely see double-digit returns over the coming months.
At current prices, Logitech also pays a 1.7% dividend.
For traders, the January 2025 $90 calls, last trading for about $1.95, could see mid-double-digit returns from a bounce higher over the coming months.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.
