Logitech International (NASDAQ:LOGI) Shares Break Below 200-Day Moving Average – What’s Next?

Shares of Logitech International S.A. (NASDAQ:LOGI – Get Free Report) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $99.73 and traded as low as $97.27. Logitech International shares last traded at $98.17, with a volume of 1,616,871 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on LOGI. Wedbush reduced their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen cut Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, November 1st. Weiss Ratings downgraded Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Morgan Stanley boosted their price objective on shares of Logitech International from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Wednesday, October 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $106.29.

Check Out Our Latest Stock Analysis on LOGI

Logitech International Stock Performance

The stock has a market cap of $14.39 billion, a PE ratio of 17.69, a PEG ratio of 5.29 and a beta of 1.21. The stock’s 50-day moving average is $101.86 and its two-hundred day moving average is $99.73.

Logitech International (NASDAQ:LOGI – Get Free Report) last posted 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Logitech International had a net margin of 16.36% and a return on equity of 37.09%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. Analysts forecast that Logitech International S.A. will post 5.27 EPS for the current year.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 16,265 shares of the firm’s 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 of the company’s stock, valued at approximately $3,759,780.95. This trade represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by company insiders.

Institutional Trading of Logitech International

A number of large investors have recently made changes to their positions in LOGI. Ritholtz Wealth Management acquired a new stake in shares of Logitech International in the 3rd quarter valued at $226,000. First Command Advisory Services Inc. lifted its position in shares of Logitech International by 559.5% during the 3rd quarter. First Command Advisory Services Inc. now owns 277 shares of the technology company’s stock worth $28,000 after purchasing an additional 235 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Logitech International during the third quarter worth $1,243,000. Kestra Advisory Services LLC acquired a new position in shares of Logitech International during the third quarter worth $410,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Logitech International during the third quarter worth $338,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Company Profile

(Get Free Report)

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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