According to Zacks, “Logitech has a striking earnings surprise history, with three strong earnings beats in the four trailing quarters. Also, the company’s current year estimates have moved north over the past month. Logitech is enjoying strong, broad-based momentum in its Retail segment businesses. Also, Logitech has been benefiting from its robust business model that focuses on maximizing profit in PC peripherals and expanding into new business categories. We believe that the company’s impressive traction across its markets and its strong product portfolio will continue to drive growth for Logitech. However, on the flip side, Logitech’s Tablet business continues to suffer from slowing product demand, which could peg back its growth somewhat. Also, the company’s growing R&D expenses, economic challenges in Russia and Europe as well as currency fluctuations continue to impact earnings and could be concerns in the quarters ahead.”
A number of other equities research analysts also recently commented on LOGI. Rosenblatt Securities reissued a buy rating and issued a $22.75 target price on shares of Logitech International SA in a report on Thursday, September 15th. JPMorgan Chase & Co. raised their target price on Logitech International SA from $13.50 to $18.00 and gave the company an underweight rating in a report on Friday, July 29th. Finally, Morgan Stanley raised Logitech International SA from an underweight rating to an equal weight rating in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Logitech International SA has a consensus rating of Hold and a consensus target price of $18.44.
Logitech International SA (NASDAQ:LOGI) opened at 22.35 on Tuesday. The stock has a 50 day moving average of $21.75 and a 200-day moving average of $17.62. The stock has a market cap of $3.61 billion, a P/E ratio of 27.94 and a beta of 1.19. Logitech International SA has a 12 month low of $12.79 and a 12 month high of $22.53.
Logitech International SA (NASDAQ:LOGI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Logitech International SA had a net margin of 6.46% and a return on equity of 18.58%. On average, equities analysts forecast that Logitech International SA will post $1.09 EPS for the current fiscal year.
The company also recently declared an annual dividend, which was paid on Tuesday, September 27th. Stockholders of record on Monday, September 26th were paid a dividend of $0.5774 per share. The ex-dividend date of this dividend was Thursday, September 22nd. This is an increase from Logitech International SA’s previous annual dividend of $0.52. Logitech International SA’s payout ratio is 71.25%.
In related news, SVP Marcel Stolk sold 225,000 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $20.36, for a total value of $4,581,000.00. Following the completion of the transaction, the senior vice president now owns 478,002 shares of the company’s stock, valued at approximately $9,732,120.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP L Joseph Sullivan sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $21.75, for a total transaction of $489,375.00. Following the completion of the transaction, the vice president now directly owns 213,161 shares of the company’s stock, valued at approximately $4,636,251.75. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. increased its position in shares of Logitech International SA by 154.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 9,880 shares of the company’s stock valued at $157,000 after buying an additional 6,000 shares during the last quarter. Cipher Capital LP purchased a new position in shares of Logitech International SA during the second quarter valued at $171,000. World Asset Management Inc increased its position in shares of Logitech International SA by 7.5% in the second quarter. World Asset Management Inc now owns 10,776 shares of the company’s stock valued at $175,000 after buying an additional 751 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Logitech International SA during the second quarter valued at $192,000. Finally, Bank of Montreal Can purchased a new position in shares of Logitech International SA during the second quarter valued at $192,000. 33.78% of the stock is owned by hedge funds and other institutional investors.
Logitech International SA Company Profile
Logitech International SA (Logitech) is a Switzerland-based company that, together with its subsidiaries, develops and markets hardware and software products that enable or enhance digital navigation, music and video entertainment, gaming, social networking, and audio and video communication over the Internet.
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