Logitech International (NASDAQ:LOGI) Shares Gap Up to $89.23

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $89.23, but opened at $91.73. Logitech International shares last traded at $90.99, with a volume of 162,273 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on LOGI. Wedbush reaffirmed a "neutral" rating and set a $92.00 price target on shares of Logitech International in a research report on Tuesday, April 30th. StockNews.com cut Logitech International from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 14th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Logitech International in a report on Tuesday, April 16th. Morgan Stanley restated an "underweight" rating and set a $75.00 price target (down from $85.00) on shares of Logitech International in a report on Monday, April 15th. Finally, Citigroup lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Logitech International presently has a consensus rating of "Hold" and a consensus price target of $91.00.

Logitech International Stock Performance

The company has a market capitalization of $14.23 billion, a P/E ratio of 23.06, a PEG ratio of 2.73 and a beta of 0.78. The business has a fifty day moving average of $86.02 and a 200-day moving average of $87.34.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.34. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $956.85 million. Logitech International had a net margin of 14.24% and a return on equity of 27.68%. Sell-side analysts anticipate that Logitech International S.A. will post 3.85 EPS for the current year.

Insider Buying and Selling at Logitech International

In related news, CFO Charles D. Boynton acquired 1,225 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $81.27 per share, with a total value of $99,555.75. Following the completion of the purchase, the chief financial officer now directly owns 1,225 shares in the company, valued at approximately $99,555.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Charles D. Boynton bought 1,225 shares of Logitech International stock in a transaction dated Friday, May 3rd. The stock was purchased at an average price of $81.27 per share, for a total transaction of $99,555.75. Following the purchase, the chief financial officer now directly owns 1,225 shares in the company, valued at approximately $99,555.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the sale, the chief operating officer now owns 61,056 shares of the company's stock, valued at approximately $5,495,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,922 shares of company stock worth $2,152,844. Insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently modified their holdings of LOGI. Acadian Asset Management LLC raised its position in Logitech International by 32.7% in the first quarter. Acadian Asset Management LLC now owns 6,207,484 shares of the technology company's stock worth $556,523,000 after acquiring an additional 1,527,984 shares during the period. Vanguard Group Inc. raised its holdings in shares of Logitech International by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company's stock worth $585,478,000 after purchasing an additional 84,179 shares during the period. Vontobel Holding Ltd. lifted its stake in Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company's stock valued at $501,223,000 after purchasing an additional 121,060 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Logitech International by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company's stock valued at $267,457,000 after purchasing an additional 760,263 shares during the period. Finally, Norges Bank bought a new position in shares of Logitech International during the 4th quarter worth $214,130,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

About Logitech International

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.