Short Interest in Logitech International S.A. (NASDAQ:LOGI) Expands By 38.0%

Logitech International S.A. (NASDAQ:LOGI) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 11,366,007 shares, an increase of 38.0% from the December 31st total of 8,236,040 shares. Based on an average daily volume of 1,144,381 shares, the short-interest ratio is presently 9.9 days. Based on an average daily volume of 1,144,381 shares, the short-interest ratio is presently 9.9 days.

Hedge Funds Weigh In On Logitech International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Logitech International by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 6,682,756 shares of the technology company’s stock valued at $678,420,000 after acquiring an additional 75,256 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Logitech International by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,802,403 shares of the technology company’s stock valued at $288,430,000 after purchasing an additional 74,702 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Logitech International by 305.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock valued at $227,859,000 after purchasing an additional 1,570,876 shares in the last quarter. Legal & General Group Plc lifted its holdings in Logitech International by 8.0% in the third quarter. Legal & General Group Plc now owns 1,327,129 shares of the technology company’s stock worth $144,749,000 after purchasing an additional 98,589 shares during the period. Finally, Caisse de depot et placement du Quebec grew its position in Logitech International by 26.3% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,173,769 shares of the technology company’s stock valued at $128,014,000 after buying an additional 244,752 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

Logitech International Stock Performance

Logitech International stock opened at $87.67 on Tuesday. Logitech International has a one year low of $64.73 and a one year high of $123.01. The company has a 50-day simple moving average of $103.27 and a 200-day simple moving average of $105.60. The firm has a market capitalization of $13.87 billion, a P/E ratio of 18.34, a P/E/G ratio of 3.18 and a beta of 1.09.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Logitech International had a net margin of 14.94% and a return on equity of 33.57%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business posted $1.59 EPS. Logitech International’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that Logitech International will post 4.21 earnings per share for the current year.

Analyst Ratings Changes

LOGI has been the topic of a number of recent research reports. Zacks Research cut shares of Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Barclays restated an “equal weight” rating and set a $98.00 price objective (down previously from $134.00) on shares of Logitech International in a research note on Friday, January 16th. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Morgan Stanley reaffirmed an “underweight” rating and issued a $89.00 price target (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Logitech International in a research report on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Logitech International presently has an average rating of “Hold” and a consensus price target of $102.13.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.