Logitech International S.A. (NASDAQ:LOGI) Short Interest Update

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 3,490,000 shares, a drop of 22.6% from the April 30th total of 4,510,000 shares. Based on an average daily volume of 850,000 shares, the short-interest ratio is presently 4.1 days. Currently, 2.7% of the company's stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup decreased their price target on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Loop Capital reduced their price objective on Logitech International from $97.00 to $78.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. UBS Group upgraded Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen lowered Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $84.29.

Logitech International Price Performance

NASDAQ LOGI traded up $0.53 on Thursday, hitting $84.38. 30,769 shares of the stock were exchanged, compared to its average volume of 627,438. The company's 50-day moving average price is $78.71 and its two-hundred day moving average price is $86.11. Logitech International has a 52-week low of $64.73 and a 52-week high of $105.65. The company has a market capitalization of $13.35 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 2.61 and a beta of 0.96.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. Equities analysts predict that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently made changes to their positions in LOGI. Bank of New York Mellon Corp increased its stake in Logitech International by 5.7% in the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock valued at $28,913,000 after buying an additional 18,986 shares during the last quarter. US Bancorp DE increased its position in Logitech International by 5.6% during the 4th quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock worth $687,000 after purchasing an additional 446 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Logitech International during the fourth quarter worth $246,000. Capital Insight Partners LLC grew its holdings in Logitech International by 8.1% in the fourth quarter. Capital Insight Partners LLC now owns 51,687 shares of the technology company's stock worth $4,256,000 after purchasing an additional 3,851 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Logitech International in the fourth quarter valued at $4,162,000. 45.76% of the stock is owned by institutional investors.

Logitech International Company Profile

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.