Logitech International (NASDAQ:LOGI) Shares Gap Down to $88.66

Logitech International S.A. (NASDAQ:LOGI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $88.66, but opened at $85.35. Logitech International shares last traded at $85.01, with a volume of 98,977 shares traded.

Wall Street Analyst Weigh In

LOGI has been the subject of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a report on Tuesday, July 16th. Barclays raised their target price on shares of Logitech International from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Loop Capital increased their price target on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $93.14.

Logitech International Stock Down 2.9 %

The stock has a market cap of $13.61 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 2.64 and a beta of 0.80. The firm’s 50-day moving average is $90.63 and its two-hundred day moving average is $90.11.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. Analysts anticipate that Logitech International S.A. will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Logitech International

Institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of Logitech International in the fourth quarter valued at approximately $33,000. Global Retirement Partners LLC raised its position in shares of Logitech International by 764.4% in the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after purchasing an additional 344 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Logitech International in the second quarter valued at approximately $35,000. National Bank of Canada FI raised its position in shares of Logitech International by 529.4% in the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after purchasing an additional 360 shares during the period. Finally, Mather Group LLC. bought a new position in shares of Logitech International in the first quarter valued at approximately $42,000. Institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.