Logitech International SA (LOGI) Short Interest Down 14.6% in November
Logitech International SA (NASDAQ:LOGI) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 6,788,583 shares, a drop of 14.6% from the November 15th total of 7,952,996 shares. Currently, 4.6% of the shares of the stock are sold short. Based on an average trading volume of 357,941 shares, the days-to-cover ratio is currently 19.0 days.
Shares of Logitech International (NASDAQ LOGI) opened at $33.26 on Friday. The firm has a market capitalization of $5,750.00, a P/E ratio of 25.39 and a beta of 0.41. Logitech International has a 12-month low of $24.16 and a 12-month high of $40.82.
Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, October 23rd. The technology company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.11. The company had revenue of $634.21 million during the quarter, compared to the consensus estimate of $630.23 million. Logitech International had a return on equity of 24.58% and a net margin of 9.32%. During the same quarter in the previous year, the company posted $0.35 EPS. equities analysts forecast that Logitech International will post 1.24 earnings per share for the current year.
Separately, Zacks Investment Research upgraded Logitech International from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.60.
A number of institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new position in Logitech International in the 3rd quarter worth approximately $670,000. Lenox Wealth Management Inc. increased its stake in Logitech International by 30.3% in the 3rd quarter. Lenox Wealth Management Inc. now owns 16,693 shares of the technology company’s stock worth $608,000 after purchasing an additional 3,882 shares during the period. Allianz Asset Management GmbH increased its stake in Logitech International by 35.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,234,689 shares of the technology company’s stock worth $45,429,000 after purchasing an additional 325,517 shares during the period. Envestnet Asset Management Inc. increased its stake in Logitech International by 3.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 92,578 shares of the technology company’s stock worth $3,376,000 after purchasing an additional 3,417 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Logitech International by 18.1% during the third quarter. Private Advisor Group LLC now owns 20,134 shares of the technology company’s stock valued at $718,000 after buying an additional 3,081 shares during the period. 38.24% of the stock is currently owned by institutional investors and hedge funds.
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Logitech International Company Profile
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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