Logitech International (NASDAQ:LOGI) Stock Breaks Below Two Hundred Day Moving Average – What’s Next?

Shares of Logitech International S.A. (NASDAQ:LOGI) passed 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LOGI shares. JPMorgan Chase & Co. lowered their target price on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Morgan Stanley boosted their price target on shares of Logitech International from $90.00 to $94.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 28th. Wedbush decreased their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings cut shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, October 26th. Finally, Barclays raised their price objective on shares of Logitech International from $101.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 28th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $106.29.

Logitech International Trading Down 2.0%

The business has a fifty day moving average price of $101.82 and a 200-day moving average price of $99.75. The stock has a market capitalization of $14.11 billion, a PE ratio of 17.34, a PEG ratio of 5.00 and a beta of 1.21.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, October 27th. The technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Logitech International had a return on equity of 37.09% and a net margin of 16.36%. Logitech International’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.45 EPS. On average, equities analysts anticipate that Logitech International S.A. will post 5.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 16,265 shares of the business’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 sale, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in shares of Logitech International by 104.2% in the third quarter. Russell Investments Group Ltd. now owns 466,372 shares of the technology company’s stock worth $47,025,000 after buying an additional 238,038 shares during the period. Ritholtz Wealth Management bought a new stake in Logitech International during the 3rd quarter valued at $226,000. First Command Advisory Services Inc. boosted its position in Logitech International by 559.5% during the 3rd quarter. First Command Advisory Services Inc. now owns 277 shares of the technology company’s stock valued at $28,000 after buying an additional 235 shares during the period. Kestra Investment Management LLC purchased a new stake in Logitech International during the 3rd quarter valued at $1,243,000. Finally, Kestra Advisory Services LLC purchased a new stake in Logitech International during the 3rd quarter valued at $410,000. Institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA designs and sells hardware and software for personal computing, communication, collaboration, gaming and digital content creation. Its products include mice, keyboards, webcams, headsets, speakers, gaming devices and video-conferencing systems.

The company serves consumers, businesses, schools and other organizations around the world through retail, e-commerce and business-to-business channels. Its product portfolio includes Logitech-branded devices and gaming products sold under the Logitech G brand.

Founded in Switzerland in 1981, Logitech is headquartered in Lausanne, Switzerland, with operations in Newark, California.