Key Points
- Insider sale: Samantha Harnett sold 16,265 Logitech shares for approximately $1.65 million under a pre-arranged Rule 10b5-1 trading plan, reducing her holdings by 30.48% to 37,097 shares.
- Quarterly performance: Logitech reported $1.85 in quarterly EPS, beating estimates of $1.26, while revenue rose 7% year over year to $1.23 billion.
- Analyst outlook: Wall Street’s average rating is “Hold,” with an average price target of $105.29; several analysts recently lowered their targets or downgraded the stock.
Logitech International S.A. (NASDAQ:LOGI - Get Free Report) insider Samantha Harnett sold 16,265 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the sale, the insider owned 37,097 shares of the company's stock, valued at approximately $3,759,780.95. This represents a 30.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Logitech International Stock Performance
NASDAQ LOGI opened at $100.36 on Tuesday. The firm has a market cap of $14.71 billion, a PE ratio of 18.41, a P/E/G ratio of 3.79 and a beta of 1.18. Logitech International S.A. has a one year low of $83.32 and a one year high of $129.66. The firm's fifty day moving average is $101.65 and its two-hundred day moving average is $100.70.
Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The business's revenue was up 7.0% compared to the same quarter last year. Research analysts predict that Logitech International S.A. will post 5.18 earnings per share for the current year.
Logitech International Cuts Dividend
The business also recently disclosed an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be paid a dividend of $1.36 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a yield of 126.0%. Logitech International's dividend payout ratio is currently 9.58%.
Institutional Investors Weigh In On Logitech International
A number of institutional investors have recently added to or reduced their stakes in LOGI. Barclays PLC increased its position in Logitech International by 16.0% during the 4th quarter. Barclays PLC now owns 3,275,064 shares of the technology company's stock worth $328,227,000 after purchasing an additional 451,357 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Logitech International by 43.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,991,627 shares of the technology company's stock valued at $304,151,000 after buying an additional 906,807 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Logitech International by 26.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company's stock valued at $188,847,000 after buying an additional 435,000 shares during the period. Amundi boosted its stake in shares of Logitech International by 51.2% in the first quarter. Amundi now owns 1,665,096 shares of the technology company's stock valued at $151,724,000 after buying an additional 563,564 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Logitech International by 57.4% in the fourth quarter. Allianz Asset Management GmbH now owns 1,556,342 shares of the technology company's stock valued at $160,175,000 after buying an additional 567,810 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on LOGI shares. Barclays lowered their target price on Logitech International from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley cut their price target on Logitech International from $89.00 to $88.00 and set an "underweight" rating for the company in a research note on Wednesday, July 8th. Wall Street Zen downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Saturday. Bank of America lowered shares of Logitech International from a "neutral" rating to an "underperform" rating and set a $86.00 price objective on the stock. in a research report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Logitech International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, September 2nd. Two 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's stock. According to data from MarketBeat, Logitech International has an average rating of "Hold" and an average price target of $105.29.
View Our Latest Stock Analysis on Logitech International
Logitech International Company Profile
(
Get Free Report)
Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.
The company's portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.
Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.
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