Logitech International (NASDAQ:LOGI) Shares Gap Up to $99.99

Shares of Logitech International S.A. (NASDAQ:LOGIGet Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $99.99, but opened at $102.48. Logitech International shares last traded at $101.65, with a volume of 158,660 shares traded.

Analysts Set New Price Targets

LOGI has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Logitech International in a research note on Tuesday, April 16th. Wedbush restated a “neutral” rating and issued a $92.00 target price on shares of Logitech International in a research note on Tuesday, April 30th. Morgan Stanley restated an “underweight” rating and issued a $75.00 target price (down from $85.00) on shares of Logitech International in a research note on Monday, April 15th. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. downgraded shares of Logitech International from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $85.00 in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.00.

Check Out Our Latest Research Report on LOGI

Logitech International Stock Down 0.9 %

The stock’s 50 day moving average price is $87.50 and its 200-day moving average price is $88.88. The stock has a market capitalization of $16.00 billion, a P/E ratio of 26.13, a P/E/G ratio of 3.15 and a beta of 0.82.

Logitech International (NASDAQ:LOGIGet Free Report) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.46%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. Analysts anticipate that Logitech International S.A. will post 3.85 earnings per share for the current year.

Insider Activity at Logitech International

In other news, CFO Charles D. Boynton bought 1,225 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $81.27 per share, with a total value of $99,555.75. Following the completion of the transaction, the chief financial officer now directly owns 1,225 shares of the company’s stock, valued at approximately $99,555.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Logitech International by 11.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,527 shares of the technology company’s stock worth $864,000 after buying an additional 1,288 shares during the last quarter. Pathstone Family Office LLC raised its holdings in shares of Logitech International by 14.0% in the third quarter. Pathstone Family Office LLC now owns 7,202 shares of the technology company’s stock worth $497,000 after buying an additional 886 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of Logitech International by 70.7% in the third quarter. Campbell & CO Investment Adviser LLC now owns 12,964 shares of the technology company’s stock worth $895,000 after buying an additional 5,370 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Logitech International by 11.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 407,855 shares of the technology company’s stock worth $28,313,000 after buying an additional 42,990 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Logitech International by 14.6% in the third quarter. PNC Financial Services Group Inc. now owns 6,348 shares of the technology company’s stock worth $438,000 after buying an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

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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.

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