Logitech International (NASDAQ:LOGI) Announces Quarterly Earnings Results

Logitech International (NASDAQ:LOGI) released its quarterly earnings data on Tuesday. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17, FiscalAI reports. Logitech International had a return on equity of 37.30% and a net margin of 16.28%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion.

Logitech International Stock Performance

Shares of NASDAQ LOGI traded up $1.93 during trading hours on Tuesday, reaching $111.82. 1,410,085 shares of the stock were exchanged, compared to its average volume of 1,081,365. The firm has a market capitalization of $16.39 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 4.08 and a beta of 1.14. Logitech International has a 52 week low of $83.32 and a 52 week high of $129.66. The stock’s fifty day simple moving average is $101.80 and its 200 day simple moving average is $99.65.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley decreased their target price on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. JPMorgan Chase & Co. cut their price target on Logitech International from $102.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Wedbush reduced their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Barclays dropped their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Finally, Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.14.

Insider Transactions at Logitech International

In related news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the sale, the insider directly owned 37,097 shares in the company, valued at $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by company insiders.

Logitech International Company Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.