Logitech International (NASDAQ:LOGI) Shares Gap Down to $86.84

Logitech International S.A. (NASDAQ:LOGI - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $86.84, but opened at $83.79. Logitech International shares last traded at $81.37, with a volume of 366,655 shares changing hands.

Analyst Ratings Changes

LOGI has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Logitech International from $98.00 to $100.00 and gave the company a "neutral" rating in a research note on Thursday, April 4th. Berenberg Bank initiated coverage on shares of Logitech International in a research note on Thursday, March 14th. They issued a "buy" rating and a $111.00 target price for the company. StockNews.com cut shares of Logitech International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 14th. Wedbush restated a "neutral" rating and issued a $92.00 price objective on shares of Logitech International in a research report on Monday, March 18th. Finally, Barclays boosted their price objective on shares of Logitech International from $96.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $92.43.

Logitech International Trading Down 6.4 %

The business's fifty day simple moving average is $88.35 and its 200 day simple moving average is $85.90. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.74.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.43. Logitech International had a net margin of 11.44% and a return on equity of 23.84%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, research analysts anticipate that Logitech International S.A. will post 3.44 earnings per share for the current year.

Insider Activity

In related news, insider Samantha Harnett sold 650 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the sale, the insider now directly owns 11,910 shares of the company's stock, valued at approximately $1,002,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Samantha Harnett sold 650 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the transaction, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Prakash Arunkundrum sold 699 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the transaction, the chief operating officer now owns 67,848 shares of the company's stock, valued at $6,106,320. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock valued at $2,207,555 in the last quarter. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Logitech International by 16.9% during the third quarter. CWM LLC now owns 1,127 shares of the technology company's stock worth $78,000 after purchasing an additional 163 shares during the period. Blue Trust Inc. increased its holdings in shares of Logitech International by 65.6% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company's stock worth $40,000 after purchasing an additional 168 shares during the period. Wetherby Asset Management Inc. increased its holdings in shares of Logitech International by 2.8% during the first quarter. Wetherby Asset Management Inc. now owns 7,548 shares of the technology company's stock worth $438,000 after purchasing an additional 203 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Logitech International by 0.4% during the fourth quarter. Public Sector Pension Investment Board now owns 58,873 shares of the technology company's stock worth $5,579,000 after purchasing an additional 231 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Logitech International by 9.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,018 shares of the technology company's stock worth $223,000 after purchasing an additional 249 shares during the period. 45.76% of the stock is owned by institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; 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.