Logitech International (NASDAQ:LOGI) Sees Strong Trading Volume – Here’s Why

Shares of Logitech International S.A. (NASDAQ:LOGIGet Free Report) saw strong trading volume on Wednesday . 2,398,169 shares traded hands during trading, an increase of 73% from the previous session’s volume of 1,383,400 shares.The stock last traded at $88.6830 and had previously closed at $93.74.

Key Logitech International News

Here are the key news stories impacting Logitech International this week:

Wall Street Analyst Weigh In

Several research firms have issued reports on LOGI. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Logitech International in a report on Thursday, January 22nd. Zacks Research downgraded 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 target price (down previously from $134.00) on shares of Logitech International in a report on Friday, January 16th. Finally, 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. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $102.13.

Read Our Latest Analysis on Logitech International

Logitech International Trading Down 8.1%

The business has a 50 day moving average of $105.01 and a 200-day moving average of $105.81. The firm has a market capitalization of $13.63 billion, a P/E ratio of 19.58, a PEG ratio of 2.33 and a beta of 1.09.

Logitech International (NASDAQ:LOGIGet Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.23. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Logitech International news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the transaction, the director directly owned 12,781 shares of the company’s stock, valued at $1,541,516.41. This represents a 31.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Virtus Advisers LLC bought a new position in shares of Logitech International in the 2nd quarter valued at $246,000. Vise Technologies Inc. bought a new position in Logitech International in the second quarter valued at about $329,000. Assetmark Inc. lifted its holdings in shares of Logitech International by 6.9% in the second quarter. Assetmark Inc. now owns 56,375 shares of the technology company’s stock worth $5,081,000 after acquiring an additional 3,640 shares during the last quarter. BLI Banque de Luxembourg Investments boosted its stake in shares of Logitech International by 19.7% in the 2nd quarter. BLI Banque de Luxembourg Investments now owns 75,525 shares of the technology company’s stock valued at $6,752,000 after purchasing an additional 12,446 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Logitech International by 7.6% during the 2nd quarter. Yousif Capital Management LLC now owns 2,821 shares of the technology company’s stock valued at $254,000 after purchasing an additional 200 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Company Profile

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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.

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