Logitech International (NASDAQ:LOGI) Stock Jumps 3.8% - What's Next?

Key Points

• Logitech shares rose 3.8% to about $102.05 in Tuesday trading, though volume was roughly 89% below the average daily level.
• Analysts maintain a consensus “Hold” rating with an average price target of $105.29; recent target cuts ranged from $86 to $130.
• The company’s latest quarterly results exceeded expectations, with EPS of $1.85 versus $1.26 estimated and revenue of $1.23 billion, up 7% year over year. An insider subsequently sold 16,265 shares under a pre-arranged trading plan.

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) shares were up 3.8% during trading on Tuesday. The stock traded as high as $101.94 and last traded at $102.0480. Approximately 121,031 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,067,588 shares. The stock had previously closed at $98.33.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lowered their price target on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price objective on Logitech International from $120.00 to $102.00 and set a "neutral" rating on the stock in a research note on Thursday, August 20th. Wedbush decreased their price objective on shares of Logitech International from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Barclays decreased their price objective on shares of Logitech International from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Finally, Bank of America lowered shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 target price for the company. in a research note on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $105.29.

Logitech International Stock Up 3.7%

The firm's 50 day simple moving average is $101.26 and its 200 day simple moving average is $102.12. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 3.58 and a beta of 1.14.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.59. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. Analysts anticipate that Logitech International S.A. will post 5.24 EPS for the current fiscal year.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 16,265 shares of the firm's stock in a transaction that occurred on 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 owned 37,097 shares in the company, valued at $3,759,780.95. This trade represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Logitech International in the 3rd quarter valued at $64,000. Fifth Third Bancorp grew its position in Logitech International by 19.1% during 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. Rockefeller Capital Management L.P. grew its holdings in shares of Logitech International by 15.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company's stock valued at $86,000 after acquiring an additional 114 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Logitech International in the 2nd quarter worth about $115,000. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Logitech International during the 3rd quarter worth about $117,000. 45.76% of the stock is owned by institutional investors.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software intended to help people connect, create, communicate and interact with digital devices. Its products are sold to consumers, businesses, educators, gamers, streamers and other professional users through retailers, online channels and business partners worldwide.

The company's product portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, presentation devices and accessories.

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