Logitech International (NASDAQ:LOGI) Stock Crosses Above 50-Day Moving Average - Should You Sell?

Key Points

• Logitech shares crossed above their 50-day moving average, trading as high as $103.47 and last at $102.33; the 50-day average was $101.88.
• Analysts have a consensus Hold rating and an average price target of $106.29, with two Buy, six Hold, and two Sell ratings.
• In its latest quarter, Logitech reported EPS of $1.51, beating estimates of $1.34, and revenue of $1.22 billion, up 2.8% year over year.

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $101.88 and traded as high as $103.47. Logitech International shares last traded at $102.33, with a volume of 1,040,232 shares.

Analyst Upgrades and Downgrades

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

Logitech International Stock Performance

The firm's 50-day moving average price is $101.88 and its 200 day moving average price is $99.92. The company has a market cap of $15.00 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 5.32 and a beta of 1.21.

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

Insider Activity

In other news, insider Samantha Harnett sold 16,265 shares of the firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the transaction, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. This trade represents a 30.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOGI. First Command Advisory Services Inc. increased 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 acquiring an additional 235 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Logitech International during the third quarter valued at approximately $41,000. Strengthening Families & Communities LLC acquired a new position in Logitech International during the third quarter valued at approximately $44,000. MassMutual Private Wealth & Trust FSB acquired a new position in Logitech International during the third quarter valued at approximately $64,000. Finally, Fifth Third Bancorp increased its stake in Logitech International by 19.1% in the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company's stock valued at $82,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 45.76% of the company's stock.

About Logitech International

Logitech International S.A. designs and sells hardware and software for personal computing, communication, collaboration, gaming and digital content creation. Its products include mice, keyboards, webcams, headsets, speakers, gaming devices and video-conferencing systems. The company serves consumers, businesses, schools and other organizations around the world through retail, e-commerce and business-to-business channels. Its product portfolio includes Logitech-branded devices and gaming products sold under the Logitech G brand.

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