Logitech International (NASDAQ:LOGI) Share Price Breaks Below Two Hundred Day Moving Average - What's Next?

Key Points

• Logitech shares fell below their 200-day moving average, trading as low as $97.27 and last at $98.17, versus the average of $99.73.
• Analyst sentiment is mixed but averages to Hold: six analysts rate the stock Hold, two Buy and two Sell, with a consensus price target of $106.29.
• Logitech beat quarterly expectations, reporting EPS of $1.51 versus $1.34 expected and revenue of $1.22 billion; revenue increased 2.8% year over year.

Logitech International S.A. (NASDAQ:LOGI - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $99.73 and traded as low as $97.27. Logitech International shares last traded at $98.17, with a volume of 1,616,871 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LOGI shares. Morgan Stanley increased their price objective on shares of Logitech International from $90.00 to $94.00 and gave the company an "underweight" rating in a report on Wednesday, October 28th. Barclays upped their price target on shares of Logitech International from $101.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. decreased their price target on shares of Logitech International from $102.00 to $94.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. Wall Street Zen lowered shares of Logitech International from a "buy" rating to a "hold" rating in a research note on Sunday, November 1st. Finally, Weiss Ratings cut Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, October 26th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Logitech International currently has an average rating of "Hold" and a consensus target price of $106.29.

Logitech International Stock Performance

The company has a 50 day moving average of $101.86 and a 200 day moving average of $99.73. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 5.29 and a beta of 1.21.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, October 27th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.17. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts predict that Logitech International S.A. will post 5.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 16,265 shares of the business's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the transaction, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LOGI. Ritholtz Wealth Management acquired a new position in Logitech International in the 3rd quarter valued at about $226,000. First Command Advisory Services Inc. grew its stake in shares of Logitech International by 559.5% in the 3rd quarter. First Command Advisory Services Inc. now owns 277 shares of the technology company's stock valued at $28,000 after buying an additional 235 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Logitech International in the 3rd quarter valued at approximately $1,243,000. Kestra Advisory Services LLC acquired a new stake in shares of Logitech International during the 3rd quarter worth approximately $410,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Logitech International during the 3rd quarter worth approximately $338,000. 45.76% of the stock is owned by hedge funds and other institutional investors.

About Logitech International

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company's portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.

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