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

Logitech International S.A. (NASDAQ:LOGI)’s share price gapped down prior to trading 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

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

Logitech International Trading Down 0.5 %

The stock has a 50-day simple moving average of $90.22 and a 200 day simple moving average of $90.05. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80.

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

Hedge Funds Weigh In On Logitech International

Several institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in Logitech International in the fourth quarter valued at about $4,880,000. Atria Wealth Solutions Inc. bought a new stake in shares of Logitech International in the 4th quarter valued at approximately $224,000. Truist Financial Corp acquired a new position in Logitech International in the fourth quarter worth approximately $248,000. Victory Capital Management Inc. bought a new position in Logitech International during the fourth quarter valued at approximately $1,483,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Logitech International in the fourth quarter valued at approximately $33,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

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.