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

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 2,560,000 shares, a drop of 21.2% from the March 31st total of 3,250,000 shares. Based on an average trading volume of 466,400 shares, the days-to-cover ratio is currently 5.5 days. Currently, 1.7% of the shares of the company are sold short.

Insider Activity at Logitech International

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the completion of the sale, the chief operating officer now directly owns 61,056 shares of the company's stock, valued at $5,495,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the completion of the sale, the chief operating officer now directly owns 61,056 shares of the company's stock, valued at $5,495,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samantha Harnett sold 650 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares of the company's stock, valued at $1,002,464.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,572 shares of company stock valued at $2,207,555. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Logitech International

A number of large investors have recently added to or reduced their stakes in LOGI. Benjamin F. Edwards & Company Inc. purchased a new stake in Logitech International during the fourth quarter valued at about $33,000. Global Retirement Partners LLC increased its holdings in shares of Logitech International by 764.4% in the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company's stock worth $35,000 after buying an additional 344 shares during the period. Blue Trust Inc. increased its holdings in shares of Logitech International by 65.6% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company's stock worth $40,000 after buying an additional 168 shares during the period. National Bank of Canada FI increased its holdings in shares of Logitech International by 529.4% in the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company's stock worth $40,000 after buying an additional 360 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Logitech International in the first quarter worth about $42,000. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Stock Up 0.7 %

NASDAQ:LOGI traded up $0.54 during trading hours on Friday, hitting $79.26. 538,537 shares of the company's stock traded hands, compared to its average volume of 410,223. The firm has a market cap of $12.53 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.66 and a beta of 0.74. Logitech International has a 52 week low of $53.91 and a 52 week high of $96.66. The business's fifty day simple moving average is $87.14 and its two-hundred day simple moving average is $86.44.

Analysts Set New Price Targets

A number of analysts have issued reports on LOGI shares. StockNews.com downgraded Logitech International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Logitech International in a report on Tuesday, April 16th. Berenberg Bank started coverage on Logitech International in a report on Thursday, March 14th. They issued a "buy" rating and a $111.00 price target for the company. Citigroup raised their price target on Logitech International from $98.00 to $100.00 and gave the stock a "neutral" rating in a report on Thursday, April 4th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $92.00 price target on shares of Logitech International in a report on Tuesday, April 23rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $92.43.

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.