Logitech International SA (LOGI) Sees Significant Increase in Short Interest

Logitech International SA (NASDAQ:LOGI) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 3,589,664 shares, an increase of 76.3% from the September 28th total of 2,036,206 shares. Based on an average daily volume of 276,257 shares, the days-to-cover ratio is currently 13.0 days.

Shares of LOGI stock opened at $35.20 on Friday. Logitech International has a 12 month low of $32.66 and a 12 month high of $49.96. The company has a market cap of $5.79 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, October 22nd. The technology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. Logitech International had a return on equity of 25.27% and a net margin of 8.06%. The company had revenue of $691.15 million during the quarter, compared to analyst estimates of $695.41 million. Equities research analysts anticipate that Logitech International will post 1.6 EPS for the current year.



In related news, CEO Bracken Darrell sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $45.66, for a total value of $4,566,000.00. Following the completion of the sale, the chief executive officer now directly owns 712,137 shares in the company, valued at approximately $32,516,175.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of Logitech International by 10.8% during the third quarter. Bank of Montreal Can now owns 17,965 shares of the technology company’s stock worth $803,000 after buying an additional 1,749 shares during the last quarter. Raymond James & Associates raised its stake in shares of Logitech International by 6.4% in the second quarter. Raymond James & Associates now owns 30,000 shares of the technology company’s stock valued at $1,323,000 after purchasing an additional 1,813 shares in the last quarter. US Bancorp DE raised its stake in shares of Logitech International by 13.6% in the second quarter. US Bancorp DE now owns 16,131 shares of the technology company’s stock valued at $708,000 after purchasing an additional 1,925 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Logitech International by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 329,468 shares of the technology company’s stock valued at $14,464,000 after purchasing an additional 2,403 shares in the last quarter. Finally, Cutler Group LP raised its stake in shares of Logitech International by 143.7% in the second quarter. Cutler Group LP now owns 5,508 shares of the technology company’s stock valued at $241,000 after purchasing an additional 3,248 shares in the last quarter. Institutional investors own 36.54% of the company’s stock.

Several equities research analysts recently weighed in on LOGI shares. Zacks Investment Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a report on Monday, September 24th. BidaskClub lowered Logitech International from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Citigroup reduced their target price on Logitech International from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, October 16th. DA Davidson boosted their target price on Logitech International from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Finally, ValuEngine lowered Logitech International from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $49.20.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.

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