Wall Street brokerages predict that Logitech International SA (NASDAQ:LOGI) will announce sales of $695.41 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Logitech International’s earnings, with estimates ranging from $689.73 million to $701.09 million. Logitech International reported sales of $634.21 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.6%. The business is expected to report its next quarterly earnings results after the market closes on Monday, October 22nd.
According to Zacks, analysts expect that Logitech International will report full year sales of $2.85 billion for the current fiscal year. For the next fiscal year, analysts expect that the company will post sales of $3.13 billion, with estimates ranging from $3.11 billion to $3.15 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Logitech International.
Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, July 30th. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The firm had revenue of $608.48 million during the quarter, compared to analyst estimates of $584.37 million. Logitech International had a net margin of 7.97% and a return on equity of 24.63%. During the same quarter in the previous year, the business earned $0.24 EPS.
A number of research analysts have weighed in on LOGI shares. Zacks Investment Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 24th. BidaskClub lowered shares of Logitech International from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. ValuEngine lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. DA Davidson boosted their target price on shares of Logitech International to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Finally, Citigroup cut their target price on shares of Logitech International from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $49.20.
Logitech International stock traded down $0.99 on Monday, reaching $39.74. 6,135 shares of the stock were exchanged, compared to its average volume of 336,156. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 30.40, a P/E/G ratio of 2.80 and a beta of 0.96. Logitech International has a twelve month low of $32.66 and a twelve month high of $49.96.
In other news, CEO Bracken Darrell sold 100,000 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $45.66, for a total transaction of $4,566,000.00. Following the transaction, the chief executive officer now owns 712,137 shares in the company, valued at approximately $32,516,175.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.
Several large investors have recently bought and sold shares of LOGI. Marshall Wace LLP bought a new position in shares of Logitech International during the 2nd quarter worth about $21,441,000. Dorsey Wright & Associates bought a new stake in Logitech International in the third quarter valued at about $6,123,000. Bank of New York Mellon Corp increased its stake in Logitech International by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 1,058,245 shares of the technology company’s stock valued at $46,542,000 after acquiring an additional 127,149 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Logitech International by 4.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,578,251 shares of the technology company’s stock valued at $113,391,000 after acquiring an additional 114,196 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Logitech International by 88.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 228,172 shares of the technology company’s stock valued at $10,017,000 after acquiring an additional 107,175 shares during the period. Institutional investors own 36.45% of the company’s stock.
Logitech International Company Profile
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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