Logitech International (NASDAQ:LOGI) Shares Gap Down to $102.17

Shares of Logitech International S.A. (NASDAQ:LOGIGet Free Report) gapped down before the market opened on Friday . The stock had previously closed at $102.17, but opened at $98.86. Logitech International shares last traded at $99.40, with a volume of 71,743 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on LOGI shares. Morgan Stanley reaffirmed an “underweight” rating and set a $75.00 target price (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Berenberg Bank began coverage on Logitech International in a report on Thursday, March 14th. They issued a “buy” rating and a $111.00 price objective for the company. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Logitech International in a research report on Tuesday, April 16th. JPMorgan Chase & Co. downgraded shares of Logitech International from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $92.00 to $85.00 in a report on Wednesday, May 1st. Finally, Wedbush reaffirmed a “neutral” rating and issued a $92.00 price target on shares of Logitech International in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Logitech International presently has a consensus rating of “Hold” and a consensus target price of $91.00.

Get Our Latest Report on Logitech International

Logitech International Stock Down 3.3 %

The firm has a market capitalization of $15.63 billion, a P/E ratio of 25.53, a PEG ratio of 3.14 and a beta of 0.82. The business’s 50-day simple moving average is $88.73 and its 200 day simple moving average is $89.42.

Logitech International (NASDAQ:LOGIGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. Sell-side analysts predict that Logitech International S.A. will post 3.85 earnings per share for the current year.

Insider Activity at Logitech International

In related news, CFO Charles D. Boynton purchased 1,225 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $81.27 per share, with a total value of $99,555.75. Following the completion of the purchase, the chief financial officer now directly owns 1,225 shares in the company, valued at $99,555.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Logitech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Acadian Asset Management LLC boosted its holdings in Logitech International by 32.7% in the first quarter. Acadian Asset Management LLC now owns 6,207,484 shares of the technology company’s stock worth $556,523,000 after acquiring an additional 1,527,984 shares in the last quarter. Vanguard Group Inc. raised its stake in Logitech International by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 6,159,041 shares of the technology company’s stock worth $585,478,000 after acquiring an additional 84,179 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after purchasing an additional 121,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Logitech International by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock valued at $267,457,000 after purchasing an additional 760,263 shares during the period. Finally, Norges Bank purchased a new position in shares of Logitech International during the 4th quarter valued at $214,130,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

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Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.

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