Logitech International (NASDAQ:LOGI) Releases Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• Logitech beat quarterly earnings expectations: EPS came in at $1.51 versus the $1.34 consensus, while revenue reached $1.22 billion, slightly above the $1.21 billion estimate.
• Shares rose to $111.82 during Tuesday trading, giving Logitech a market capitalization of approximately $16.39 billion.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $104.14; insider Samantha Harnett also sold 16,265 shares under a pre-arranged trading plan.

Logitech International (NASDAQ:LOGI - Get Free Report) issued its quarterly earnings results on Tuesday. The technology company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.17, FiscalAI reports. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.

Logitech International Price Performance

LOGI stock traded up $1.93 during mid-day trading on Tuesday, reaching $111.82. The company had a trading volume of 1,410,085 shares, compared to its average volume of 1,081,365. The company has a market capitalization of $16.39 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 4.08 and a beta of 1.14. Logitech International has a 52 week low of $83.32 and a 52 week high of $129.66. The stock has a 50 day simple moving average of $101.80 and a two-hundred day simple moving average of $99.65.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley cut their target price on Logitech International from $89.00 to $88.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 8th. Wedbush decreased their price target on shares of Logitech International from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Bank of America downgraded shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price objective on the stock. in a report on Tuesday, June 30th. Barclays reduced their target price on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Logitech International from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $104.14.

Insider Activity

In other news, insider Samantha Harnett sold 16,265 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the sale, the insider owned 37,097 shares in the company, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by corporate insiders.

Logitech International Company Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company's portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.

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