Logitech International S.A. (NASDAQ:LOGI) Sees Large Decline in Short Interest

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,250,000 shares, a decline of 20.5% from the March 15th total of 4,090,000 shares. Approximately 2.1% of the company's shares are short sold. Based on an average daily volume of 442,500 shares, the short-interest ratio is currently 7.3 days.

Logitech International Price Performance

NASDAQ:LOGI traded down $0.57 on Friday, hitting $86.84. 243,148 shares of the company's stock were exchanged, compared to its average volume of 364,082. The firm has a 50-day moving average price of $88.40 and a 200-day moving average price of $85.68. Logitech International has a 52 week low of $53.91 and a 52 week high of $96.66. The company has a market cap of $13.73 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.80 and a beta of 0.74.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Monday, January 22nd. The technology company reported $1.43 EPS for the quarter, topping 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 firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.23 billion. On average, research analysts expect that Logitech International will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. PNC Financial Services Group Inc. lifted its position in Logitech International by 9.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,018 shares of the technology company's stock worth $223,000 after buying an additional 249 shares in the last quarter. Natixis Advisors L.P. bought a new stake in shares of Logitech International in the 1st quarter valued at about $1,064,000. BlackRock Inc. raised its holdings in shares of Logitech International by 19.2% in the 1st quarter. BlackRock Inc. now owns 578,107 shares of the technology company's stock valued at $42,652,000 after purchasing an additional 93,104 shares during the period. Cibc World Market Inc. raised its holdings in shares of Logitech International by 51.9% in the 1st quarter. Cibc World Market Inc. now owns 8,775 shares of the technology company's stock valued at $647,000 after purchasing an additional 3,000 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Logitech International by 24.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 469,184 shares of the technology company's stock valued at $34,625,000 after purchasing an additional 91,536 shares during the period. 45.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on LOGI. Wedbush reiterated a "neutral" rating and set a $92.00 target price on shares of Logitech International in a research report on Monday, March 18th. StockNews.com cut shares of Logitech International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 14th. Barclays upped their target price on shares of Logitech International from $96.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, January 24th. Citigroup upped their target price on shares of Logitech International from $98.00 to $100.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. Finally, Berenberg Bank began coverage on shares of Logitech International in a report on Thursday, March 14th. They issued a "buy" rating and a $111.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $93.86.

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.