Logitech International (NASDAQ:LOGI) Releases Earnings Results, Beats Estimates By $0.18 EPS

Logitech International (NASDAQ:LOGIGet Rating) released its earnings results on Monday. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.18, Fidelity Earnings reports. Logitech International had a return on equity of 35.43% and a net margin of 13.17%. During the same period last year, the company earned $1.36 EPS.

LOGI opened at $66.34 on Tuesday. The business’s fifty day moving average is $71.94 and its two-hundred day moving average is $78.23. Logitech International has a one year low of $63.29 and a one year high of $140.17.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in Logitech International by 20.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,083,059 shares of the technology company’s stock valued at $91,386,000 after purchasing an additional 183,993 shares during the last quarter. Barclays PLC increased its stake in Logitech International by 17.6% in the fourth quarter. Barclays PLC now owns 605,310 shares of the technology company’s stock valued at $49,925,000 after purchasing an additional 90,424 shares during the last quarter. BlackRock Inc. increased its stake in Logitech International by 60.9% in the fourth quarter. BlackRock Inc. now owns 485,003 shares of the technology company’s stock valued at $40,003,000 after purchasing an additional 183,583 shares during the last quarter. Morgan Stanley increased its stake in Logitech International by 9.7% during the second quarter. Morgan Stanley now owns 292,575 shares of the technology company’s stock worth $35,378,000 after acquiring an additional 25,754 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Logitech International by 22.9% during the fourth quarter. Parametric Portfolio Associates LLC now owns 386,175 shares of the technology company’s stock worth $31,852,000 after acquiring an additional 72,064 shares during the last quarter.

A number of research firms have recently issued reports on LOGI. Morgan Stanley boosted their target price on Logitech International from $74.00 to $75.00 and gave the company an “underweight” rating in a report on Friday, March 4th. TheStreet lowered Logitech International from a “b” rating to a “c+” rating in a report on Friday. Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Tuesday, March 1st. Bank of America initiated coverage on Logitech International in a research note on Thursday, March 24th. They issued a “buy” rating and a $107.00 price target on the stock. Finally, The Goldman Sachs Group upgraded Logitech International from a “neutral” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Monday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $99.89.

Logitech International Company Profile (Get Rating)

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

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Earnings History for Logitech International (NASDAQ:LOGI)

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