Logitech International (NASDAQ:LOGI) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Logitech International S.A. (NASDAQ:LOGI) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $99.72 and traded as low as $97.61. Logitech International shares last traded at $98.27, with a volume of 3,047,688 shares trading hands.

Key Stories Impacting Logitech International

Here are the key news stories impacting Logitech International this week:

• Positive Sentiment: Logitech reported fiscal Q2 adjusted earnings of $1.51 per share, above the $1.34 analyst consensus, while revenue of $1.22 billion also exceeded expectations and increased 2.8% year over year. Gaming and conferencing products supported sales. Logitech Announces Q2 Fiscal Year 2027 Results
• Positive Sentiment: Barclays raised its price target from $101 to $110 while maintaining an “equal weight” rating, suggesting the selloff may have created some valuation support. Barclays Logitech stock recommendations
• Neutral Sentiment: Logitech filed its fiscal Q2 Form 10-Q with the SEC, providing the company’s detailed quarterly financial disclosures. Logitech Files Quarterly Report on Form 10-Q
• Negative Sentiment: Management’s holiday-period outlook disappointed investors. A chip-supplier incident is disrupting production, with the company indicating that the third quarter will bear much of the impact, raising concerns about near-term revenue, inventory and profitability. Logitech Sinks on Weak Holiday Guidance
• Negative Sentiment: Analysts also highlighted weaker margins, declining earnings quality and soft free cash flow. These concerns overshadowed the quarterly beat and prompted profit-taking after Logitech’s recent gains. Reuters Logitech margin concerns
• Negative Sentiment: Morgan Stanley raised its price target from $90 to $94 but retained an “underweight” rating, indicating limited upside despite the higher target. Morgan Stanley Logitech stock recommendations

Analyst Ratings Changes

LOGI has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Morgan Stanley boosted their target price on shares of Logitech International from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Wednesday. Weiss Ratings lowered shares of Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Finally, Barclays increased their price target on shares of Logitech International from $101.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.29.

Logitech International Stock Performance

The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 4.08 and a beta of 1.14. The company’s fifty day moving average is $102.01 and its two-hundred day moving average is $99.72.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, October 27th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.17. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the company earned $1.45 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Logitech International S.A. will post 5.14 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 37,097 shares in the company, valued at $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in Logitech International by 26.6% during the 1st quarter. Renaissance Technologies LLC now owns 2,072,508 shares of the technology company’s stock worth $188,847,000 after acquiring an additional 435,000 shares in the last quarter. Amundi boosted its holdings in Logitech International by 51.2% in the 1st quarter. Amundi now owns 1,665,096 shares of the technology company’s stock worth $151,724,000 after acquiring an additional 563,564 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Logitech International by 2,227.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,045,742 shares of the technology company’s stock worth $98,189,000 after acquiring an additional 1,000,805 shares during the period. Bank of America Corp DE boosted its holdings in Logitech International by 16.5% in the 1st quarter. Bank of America Corp DE now owns 915,733 shares of the technology company’s stock worth $83,442,000 after acquiring an additional 129,967 shares during the period. Finally, Royal Bank of Canada grew its position in Logitech International by 75.5% in the first quarter. Royal Bank of Canada now owns 396,339 shares of the technology company’s stock valued at $36,115,000 after acquiring an additional 170,485 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

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.