Logitech International S.A. (NASDAQ:LOGI – Get Free Report)’s stock price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $92.96, but opened at $97.00. Logitech International shares last traded at $98.61, with a volume of 572,272 shares.
The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.68% and a net margin of 15.65%.
Wall Street Analysts Forecast Growth
LOGI has been the subject of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research report on Wednesday, January 22nd. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Citigroup raised their price target on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays boosted their price objective on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $97.13.
Institutional Investors Weigh In On Logitech International
Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in Logitech International in the 2nd quarter worth $235,000. Creative Planning increased its holdings in shares of Logitech International by 5.1% in the second quarter. Creative Planning now owns 28,611 shares of the technology company’s stock worth $2,772,000 after buying an additional 1,391 shares during the period. Cetera Investment Advisers lifted its stake in shares of Logitech International by 14.1% in the 2nd quarter. Cetera Investment Advisers now owns 13,882 shares of the technology company’s stock valued at $1,345,000 after acquiring an additional 1,717 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Logitech International by 21.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 41,170 shares of the technology company’s stock valued at $3,989,000 after acquiring an additional 7,400 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in Logitech International by 124.0% during the 3rd quarter. Park Avenue Securities LLC now owns 20,451 shares of the technology company’s stock worth $1,835,000 after acquiring an additional 11,321 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.
Logitech International Trading Up 2.6 %
The stock has a 50 day simple moving average of $85.18 and a 200 day simple moving average of $85.80. The firm has a market capitalization of $15.70 billion, a PE ratio of 22.11, a PEG ratio of 2.74 and a beta of 0.77.
Logitech International Company Profile
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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