Logitech International (NASDAQ:LOGI) Issues Earnings Results

Logitech International (NASDAQ:LOGI) issued its earnings results on Tuesday. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.17, FiscalAI reports. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion.

Logitech International Trading Up 1.8%

NASDAQ:LOGI traded up $1.93 during trading hours on Tuesday, hitting $111.82. 1,444,722 shares of the company traded hands, compared to its average volume of 1,082,705. Logitech International has a twelve month low of $83.32 and a twelve month high of $129.66. The firm has a 50-day moving average of $101.80 and a 200 day moving average of $99.65. The stock has a market capitalization of $16.39 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 4.08 and a beta of 1.14.

Insider Transactions at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were 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 approximately $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LOGI. Morgan Stanley cut their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Wedbush decreased their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price target on Logitech International from $102.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a research note on Tuesday, June 30th. Finally, Wall Street Zen raised Logitech International from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $104.14.

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.