Logitech International SA (LOGI) Reaches New 1-Year High at $22.41
Logitech International SA (NASDAQ:LOGI) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.41 and last traded at $22.30, with a volume of 193,303 shares. The stock had previously closed at $21.74.
LOGI has been the topic of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $22.75 price target (up previously from $18.00) on shares of Logitech International SA in a report on Wednesday, August 3rd. Morgan Stanley upgraded Logitech International SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, August 10th. JPMorgan Chase & Co. restated a “sell” rating and issued a $13.50 target price on shares of Logitech International SA in a report on Wednesday, July 20th. Finally, Zacks Investment Research lowered Logitech International SA from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.44.
The firm’s 50-day moving average price is $18.67 and its 200-day moving average price is $16.32. The company has a market cap of $3.59 billion and a P/E ratio of 27.77.
Logitech International SA (NASDAQ:LOGI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Equities research analysts forecast that Logitech International SA will post $1.08 EPS for the current fiscal year.
In related news, CFO Vincent Pilette sold 100,000 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $19.93, for a total transaction of $1,993,000.00. Following the transaction, the chief financial officer now owns 518,492 shares in the company, valued at approximately $10,333,545.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Marcel Stolk sold 225,000 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $20.36, for a total value of $4,581,000.00. Following the transaction, the senior vice president now owns 478,002 shares in the company, valued at approximately $9,732,120.72. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Logitech International SA stock. Dimensional Fund Advisors LP raised its position in shares of Logitech International SA (NASDAQ:LOGI) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 291,619 shares of the company’s stock after buying an additional 4,214 shares during the period. Dimensional Fund Advisors LP owned about 0.18% of Logitech International SA worth $4,395,000 at the end of the most recent quarter.
Logitech International SA (Logitech) is a Switzerland-based company that, together with its subsidiaries, develops and markets hardware and software products that enable or enhance digital navigation, music and video entertainment, gaming, social networking, and audio and video communication over the Internet.