Logitech International S.A. (NASDAQ:LOGI) Expected to Post Quarterly Sales of $1.24 Billion

Wall Street brokerages forecast that Logitech International S.A. (NASDAQ:LOGI – Get Rating) will post sales of $1.24 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Logitech International’s earnings, with the highest sales estimate coming in at $1.29 billion and the lowest estimate coming in at $1.20 billion. Logitech International posted sales of $1.54 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 19.5%. The business is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Logitech International will report full year sales of $5.49 billion for the current year, with estimates ranging from $5.45 billion to $5.54 billion. For the next year, analysts anticipate that the company will post sales of $5.69 billion, with estimates ranging from $5.56 billion to $5.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Logitech International.

Logitech International (NASDAQ:LOGI – Get Rating) last announced its quarterly earnings results on Monday, January 24th. The technology company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.18. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.50 billion. Logitech International had a return on equity of 35.43% and a net margin of 13.17%. During the same period in the prior year, the company posted $2.33 earnings per share.

A number of brokerages recently issued reports on LOGI. Loop Capital raised Logitech International from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $110.00 in a report on Friday, March 4th. Morgan Stanley boosted their price objective on Logitech International from $74.00 to $75.00 and gave the company an “underweight” rating in a research note on Friday, March 4th. The Goldman Sachs Group upgraded Logitech International from a “neutral” rating to a “buy” rating and set a $107.00 price objective for the company in a research note on Monday, April 4th. Zacks Investment Research upgraded Logitech International from a “strong sell” rating to a “hold” rating and set a $89.00 price objective for the company in a research note on Wednesday, December 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Logitech International in a research note on Monday, December 13th. They issued a “buy” rating and a $91.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Logitech International currently has an average rating of “Buy” and an average target price of $99.89.

LOGI traded up $0.54 on Friday, reaching $71.55. The company’s stock had a trading volume of 22,260 shares, compared to its average volume of 824,751. The stock has a 50 day moving average of $75.06 and a two-hundred day moving average of $80.42. Logitech International has a fifty-two week low of $67.36 and a fifty-two week high of $140.17.

In other news, General Counsel Samantha Harnett sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $74.24, for a total transaction of $97,996.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vident Investment Advisory LLC raised its position in Logitech International by 3.4% in the third quarter. Vident Investment Advisory LLC now owns 4,107 shares of the technology company’s stock worth $366,000 after acquiring an additional 136 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Logitech International by 3.3% in the third quarter. Rockefeller Capital Management L.P. now owns 4,237 shares of the technology company’s stock worth $373,000 after acquiring an additional 137 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Logitech International by 1.1% in the third quarter. Crossmark Global Holdings Inc. now owns 14,957 shares of the technology company’s stock worth $1,318,000 after acquiring an additional 156 shares in the last quarter. Truist Financial Corp raised its position in Logitech International by 4.1% in the third quarter. Truist Financial Corp now owns 4,025 shares of the technology company’s stock worth $355,000 after acquiring an additional 160 shares in the last quarter. Finally, Pictet & Cie Europe SA raised its position in Logitech International by 2.0% in the fourth quarter. Pictet & Cie Europe SA now owns 13,194 shares of the technology company’s stock worth $1,113,000 after acquiring an additional 256 shares in the last quarter. Institutional investors and hedge funds own 36.50% of the company’s stock.

Logitech International Company Profile (Get Rating)

Logitech International SA is a holding company, which engages in the design, manufacture, and marketing of peripherals for PCs, tablets, and other digital platforms. Its products include mice, keyboards, presentation remotes, headsets, and speakers. The firm offers solutions for healthy computing, wireless charging, streaming, virtual reality, rom home, schools, healthcare, and software and apps.

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