Logitech International S.A. (NASDAQ:LOGI) Sees Large Drop in Short Interest

Logitech International S.A. (NASDAQ:LOGI) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 4,270,000 shares, a drop of 27.3% from the January 15th total of 5,870,000 shares. Currently, 3.3% of the company’s shares are short sold. Based on an average daily trading volume, of 608,200 shares, the days-to-cover ratio is currently 7.0 days.

Analysts Set New Price Targets

Several research firms recently commented on LOGI. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Citigroup raised their price objective on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price objective on shares of Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, StockNews.com raised shares of Logitech International from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $97.13.

Logitech International Stock Up 1.7 %

Shares of NASDAQ:LOGI traded up $1.76 during trading on Friday, reaching $105.06. The stock had a trading volume of 868,872 shares, compared to its average volume of 961,655. The stock has a fifty day simple moving average of $89.21 and a two-hundred day simple moving average of $86.52. The firm has a market capitalization of $16.62 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 2.54 and a beta of 0.78. Logitech International has a 52 week low of $74.72 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. On average, analysts forecast that Logitech International will post 4.18 EPS for the current year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the transaction, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

A number of institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Logitech International by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after buying an additional 127 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in Logitech International by 5.8% during the third quarter. Rosenberg Matthew Hamilton now owns 2,339 shares of the technology company’s stock worth $210,000 after buying an additional 128 shares in the last quarter. Freedom Investment Management Inc. boosted its stake in shares of Logitech International by 4.1% in the 4th quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company’s stock valued at $284,000 after purchasing an additional 136 shares in the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Logitech International by 0.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after purchasing an additional 170 shares in the last quarter. Finally, Tealwood Asset Management Inc. boosted its stake in shares of Logitech International by 1.2% in the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock valued at $1,231,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.