Logitech International (NASDAQ:LOGI) Stock Jumps 3.8% – Should You Buy?

Logitech International S.A. (NASDAQ:LOGI – Get Free Report)’s stock price rose 3.8% during trading on Tuesday. The company traded as high as $101.94 and last traded at $102.0480. Approximately 121,031 shares were traded 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LOGI. JPMorgan Chase & Co. cut their price objective on shares of Logitech International from $120.00 to $102.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Barclays decreased their target price on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Morgan Stanley lowered their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Three research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $105.29.

Read Our Latest Stock Report on Logitech International

Logitech International Trading Up 3.7%

The company has a 50 day moving average of $101.26 and a 200 day moving average of $102.12. The firm 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 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 business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $1.26 EPS. As a group, sell-side analysts anticipate that Logitech International S.A. will post 5.24 EPS for the current fiscal year.

Insider Activity at Logitech International

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 completion of the sale, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. This trade represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.15% of the company’s stock.

Institutional Trading of Logitech International

Several hedge funds have recently modified their holdings of LOGI. NorthCrest Asset Manangement LLC bought a new position in Logitech International in the 3rd quarter valued at $439,000. Farther Finance Advisors LLC acquired a new position in shares of Logitech International during the 3rd quarter worth about $117,000. MassMutual Private Wealth & Trust FSB bought a new position in Logitech International during the 3rd quarter worth approximately $64,000. QRG Capital Management Inc. boosted its stake 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. Finally, Envestnet Asset Management Inc. grew 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 purchasing an additional 4,831 shares during the period. 45.76% of the stock is owned by institutional investors.

About Logitech International

(Get Free Report)

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.

Further Reading

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