Logitech International (NASDAQ:LOGI) Shares Gap Down to $79.44

Logitech International S.A. (NASDAQ:LOGI)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $79.44, but opened at $75.71. Logitech International shares last traded at $77.70, with a volume of 613,289 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Berenberg Bank started coverage on Logitech International in a research note on Thursday, March 14th. They issued a “buy” rating and a $111.00 target price on the stock. Morgan Stanley restated an “underweight” rating and issued a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a research report on Monday, April 15th. StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. downgraded Logitech International from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $85.00 in a report on Wednesday. Finally, Citigroup lifted their price objective on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.00.

Logitech International Stock Performance

The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.63 and a beta of 0.78. The stock has a 50-day moving average of $86.82 and a 200-day moving average of $86.55.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.68%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. Sell-side analysts predict that Logitech International S.A. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling at Logitech International

In other news, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the transaction, the chief operating officer now directly owns 61,056 shares in the company, valued at approximately $5,495,040. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the transaction, the chief operating officer now owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Harnett sold 650 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock worth $2,207,555. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its position in shares of Logitech International by 2.3% in the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after purchasing an additional 121,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Logitech International by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock worth $267,457,000 after buying an additional 760,263 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Logitech International by 249.1% during the 3rd quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock worth $52,000 after buying an additional 538 shares in the last quarter. Qtron Investments LLC bought a new stake in shares of Logitech International during the 3rd quarter worth $585,000. Finally, Tudor Investment Corp Et Al lifted its stake in Logitech International by 73.3% in the 3rd quarter. Tudor Investment Corp Et Al now owns 58,914 shares of the technology company’s stock valued at $4,062,000 after purchasing an additional 24,923 shares during the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.