Logitech International (NASDAQ:LOGI) Trading Down 4.9%

Logitech International S.A. (NASDAQ:LOGI) shares fell 4.9% during trading on Wednesday . The company traded as low as $89.73 and last traded at $89.98. 571,213 shares were traded during trading, an increase of 27% from the average session volume of 451,158 shares. The stock had previously closed at $94.60.

Analyst Ratings Changes

A number of research firms recently issued reports on LOGI. Wedbush reaffirmed a “neutral” rating and set a $92.00 target price on shares of Logitech International in a report on Tuesday, April 30th. Berenberg Bank began coverage on Logitech International in a report on Thursday, March 14th. They set a “buy” rating and a $111.00 target price on the stock. StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. lowered Logitech International from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $85.00 in a report on Wednesday, May 1st. Finally, Citigroup lifted their target price on Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $91.00.

Logitech International Trading Down 4.9 %

The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.80. The stock has a 50-day simple moving average of $94.07 and a 200 day simple moving average of $90.27.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. Logitech International had a return on equity of 27.46% and a net margin of 14.24%. Sell-side analysts expect that Logitech International S.A. will post 3.85 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In related news, CFO Charles D. Boynton acquired 1,225 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $81.27 per share, with a total value of $99,555.75. Following the purchase, the chief financial officer now owns 1,225 shares of the company’s stock, valued at $99,555.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Strategic Global Advisors LLC bought a new position in Logitech International in the 4th quarter worth approximately $238,000. BNP Paribas Financial Markets increased its position in shares of Logitech International by 275.9% during the fourth quarter. BNP Paribas Financial Markets now owns 15,598 shares of the technology company’s stock valued at $1,483,000 after purchasing an additional 11,449 shares during the period. Dorsey Wright & Associates bought a new stake in shares of Logitech International during the fourth quarter valued at approximately $2,791,000. Vontobel Holding Ltd. increased its position in shares of Logitech International by 2.3% during the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock valued at $501,223,000 after purchasing an additional 121,060 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Logitech International by 20.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after purchasing an additional 306,948 shares during the period. 45.76% of the stock is owned by institutional investors.

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.