Wall Street brokerages predict that Logitech International S.A. (NASDAQ:LOGI) will report sales of $841.06 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Logitech International's earnings. The lowest sales estimate is $805.81 million and the highest is $876.30 million. Logitech International posted sales of $719.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.9%. The business is scheduled to issue its next earnings results after the market closes on Monday, October 19th.
On average, analysts expect that Logitech International will report full-year sales of $3.36 billion for the current year, with estimates ranging from $3.32 billion to $3.40 billion. For the next fiscal year, analysts expect that the business will post sales of $3.47 billion, with estimates ranging from $3.45 billion to $3.48 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research firms that follow Logitech International.
Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Monday, July 20th. The technology company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.36. The company had revenue of $791.89 million during the quarter, compared to analyst estimates of $706.14 million. Logitech International had a net margin of 15.25% and a return on equity of 25.91%.
Several equities research analysts have weighed in on LOGI shares. Wedbush raised their price target on Logitech International from $65.00 to $73.50 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. BidaskClub raised Logitech International from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. DA Davidson increased their target price on Logitech International from $70.00 to $83.00 in a report on Wednesday, July 22nd. Loop Capital lifted their target price on Logitech International from $58.00 to $78.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Finally, Citigroup boosted their target price on Logitech International from $73.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of "Hold" and an average price target of $70.93.
In other Logitech International news, CEO Bracken Darrell sold 41,666 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $78.17, for a total value of $3,257,031.22. Following the sale, the chief executive officer now owns 806,838 shares in the company, valued at $63,070,526.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Synovus Financial Corp acquired a new position in Logitech International during the second quarter worth $27,000. FIL Ltd acquired a new position in shares of Logitech International in the 2nd quarter valued at $34,000. West Oak Capital LLC purchased a new stake in shares of Logitech International in the 2nd quarter valued at $39,000. Harvest Group Wealth Management LLC raised its holdings in shares of Logitech International by 25.1% in the 2nd quarter. Harvest Group Wealth Management LLC now owns 748 shares of the technology company's stock valued at $48,000 after buying an additional 150 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Logitech International by 84.2% in the 2nd quarter. Signaturefd LLC now owns 772 shares of the technology company's stock valued at $50,000 after buying an additional 353 shares during the period. Institutional investors and hedge funds own 35.28% of the company's stock.
Shares of NASDAQ:LOGI opened at $79.83 on Friday. The company has a market cap of $13.33 billion, a PE ratio of 28.51 and a beta of 0.97. Logitech International has a 12-month low of $31.37 and a 12-month high of $81.74. The stock has a 50 day moving average of $73.91 and a 200 day moving average of $63.20.
The business also recently disclosed an annual dividend, which was paid on Tuesday, September 22nd. Investors of record on Monday, September 21st were paid a dividend of $0.8697 per share. The ex-dividend date was Friday, September 18th. This is an increase from Logitech International's previous annual dividend of $0.52. This represents a dividend yield of 1.3%.
Logitech International Company Profile
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences. The company offers pointing devices, such as wireless mouse and trackball; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.
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