Logitech International S.A. (NASDAQ:LOGI – Get Free Report) gapped down prior to trading on Wednesday. The stock had previously closed at $111.82, but opened at $99.89. Logitech International shares last traded at $99.9850, with a volume of 582,605 shares changing hands.
Logitech International News Roundup
Here are the key news stories impacting Logitech International this week:
- Positive Sentiment: Logitech reported fiscal Q2 earnings of $1.51 per share, above the $1.34 analyst consensus, while revenue reached approximately $1.22 billion versus expectations of $1.21 billion. Gaming and conferencing products helped support sales. Logitech International SA Q2 Profit Rises
- Positive Sentiment: Barclays raised its price target on LOGI from $101 to $110 while maintaining an “equal weight” rating, suggesting some analysts see value after the selloff. Barclays Logitech price target
- Neutral Sentiment: Logitech filed its fiscal Q2 Form 10-Q with the SEC, providing the company’s full quarterly financial and operating details but no separate catalyst beyond the previously reported results. Logitech Form 10-Q filing
- Negative Sentiment: A disruption involving a chip supplier is expected to weigh heavily on fiscal Q3, creating product-availability constraints and weakening the holiday outlook. The supply issue overshadowed the earnings beat and triggered a sharp decline in the stock. Logitech weak holiday guidance and chip supplier incident
- Negative Sentiment: Investors are also concerned about profitability: GAAP earnings and free cash flow were weaker, while analysts cited margin pressure and potential profit-taking despite the headline earnings beat. Reuters Logitech margin concerns
- Negative Sentiment: Morgan Stanley raised its price target from $90 to $94 but retained an “underweight” rating, implying limited confidence in the near-term risk-reward profile. Morgan Stanley Logitech price target
Analyst Upgrades and Downgrades
LOGI has been the subject of a number of recent analyst reports. Wedbush dropped their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings lowered shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Wall Street Zen upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Finally, Morgan Stanley lifted their target price on shares of Logitech International from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $106.29.
Check Out Our Latest Stock Analysis on Logitech International
Logitech International Stock Performance
The company has a 50 day moving average of $101.98 and a 200-day moving average of $99.73. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 3.66 and a beta of 1.14.
Logitech International (NASDAQ:LOGI – Get Free Report) last released its earnings results on Tuesday, October 27th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Logitech International had a return on equity of 36.54% and a net margin of 16.36%. Logitech International’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. On average, research analysts anticipate that Logitech International S.A. will post 5.14 EPS for the current year.
Insider Buying and Selling at Logitech International
In related news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction that occurred 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 transaction, the insider 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 document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.15% of the company’s stock.
Hedge Funds Weigh In On Logitech International
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Logitech International during the third quarter worth about $41,000. ProShare Advisors LLC increased its stake in shares of Logitech International by 11.5% during the third quarter. ProShare Advisors LLC now owns 10,497 shares of the technology company’s stock worth $1,061,000 after buying an additional 1,081 shares during the period. Modera Wealth Management LLC purchased a new position in Logitech International in the third quarter worth approximately $2,981,000. Generali Asset Management SPA SGR purchased a new position in Logitech International in the third quarter worth approximately $516,000. Finally, Park Avenue Securities LLC acquired a new position in Logitech International during the 3rd quarter worth approximately $686,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.
Logitech International Company Profile
Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.
The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.
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