Logitech International (NASDAQ:LOGI) Shares Gap Down to $88.66

Logitech International S.A. (NASDAQ:LOGI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $88.66, but opened at $85.35. Logitech International shares last traded at $85.01, with a volume of 98,977 shares.

Analyst Ratings Changes

LOGI has been the topic of a number of analyst reports. Wedbush reiterated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note on Tuesday, July 16th. StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Barclays increased their price target on Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Loop Capital upped their price objective on Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $93.14.

Logitech International Stock Performance

The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80. The firm has a fifty day moving average price of $90.63 and a 200-day moving average price of $90.11.

Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.20. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. On average, sell-side analysts forecast that Logitech International S.A. will post 3.96 EPS for the current fiscal year.

Institutional Trading of Logitech International

Large investors have recently bought and sold shares of the business. Strategic Global Advisors LLC acquired a new stake in Logitech International in the fourth quarter valued at about $238,000. BNP Paribas Financial Markets raised its position in Logitech International by 275.9% in 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 last quarter. Dorsey Wright & Associates bought a new position in shares of Logitech International during the fourth quarter worth about $2,791,000. Russell Investments Group Ltd. raised its position in shares of Logitech International by 86.4% during the first quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company’s stock worth $49,349,000 after acquiring an additional 255,828 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised 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 worth $174,162,000 after acquiring an additional 306,948 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

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.