Logitech International (NASDAQ:LOGI) Stock Price Breaks Above Two Hundred Day Moving Average - Here's Why

Key Points

• Logitech shares moved above their 200-day moving average, reaching $103.63 before last trading at $101.38. The stock’s 200-day average was $101.77.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $105.29; recent firms lowered targets and some downgraded the stock.
• Logitech’s latest quarterly results exceeded expectations, with EPS of $1.85 versus $1.26 expected and revenue of $1.23 billion, up 7% year over year.

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $101.77 and traded as high as $103.63. Logitech International shares last traded at $101.38, with a volume of 417,522 shares.

Analyst Ratings Changes

LOGI has been the subject of several recent research reports. Wall Street Zen cut Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, September 28th. Wedbush cut their price objective on shares of Logitech International from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley reduced their target price on shares of Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a research note on Wednesday, July 8th. Bank of America lowered shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price target on the stock. in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of Logitech International from $120.00 to $102.00 and set a "neutral" rating on the stock in a report on Thursday, August 20th. Two investment 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. Based on data from MarketBeat, Logitech International presently has a consensus rating of "Hold" and an average price target of $105.29.

Logitech International Trading Down 2.8%

The firm has a market cap of $14.86 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 3.80 and a beta of 1.14. The stock has a fifty day moving average price of $101.68 and a 200 day moving average price of $101.77.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.59. The firm 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 company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. On average, sell-side analysts forecast that Logitech International S.A. will post 5.24 EPS for the current year.

Insider Buying and Selling at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB bought a new position in Logitech International in the 3rd quarter worth $64,000. QRG Capital Management Inc. lifted its position in Logitech International by 19.3% during the 2nd quarter. QRG Capital Management Inc. now owns 30,309 shares of the technology company's stock worth $2,850,000 after acquiring an additional 4,912 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Logitech International by 3.6% during the second quarter. Envestnet Asset Management Inc. now owns 139,436 shares of the technology company's stock valued at $13,112,000 after acquiring an additional 4,831 shares during the period. Andra AP fonden boosted its holdings in Logitech International by 801.7% during the second quarter. Andra AP fonden now owns 64,111 shares of the technology company's stock valued at $6,029,000 after acquiring an additional 57,001 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Logitech International by 8.5% in the second quarter. Sequoia Financial Advisors LLC now owns 11,155 shares of the technology company's stock valued at $1,049,000 after purchasing an additional 878 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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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