Logitech International (NASDAQ:LOGI) Shares Gap Down to $92.05

Shares of Logitech International S.A. (NASDAQ:LOGI) gapped down before the market opened on Tuesday . The stock had previously closed at $92.05, but opened at $89.40. Logitech International shares last traded at $89.65, with a volume of 477,873 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on LOGI shares. Wedbush reaffirmed a “neutral” rating and issued a $88.00 price objective on shares of Logitech International in a research report on Tuesday, July 16th. Citigroup raised their price target on shares of Logitech International from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Logitech International in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lowered Logitech International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $85.00 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.57.

Logitech International Trading Down 0.9 %

The firm’s 50-day moving average price is $95.46 and its two-hundred day moving average price is $90.07. The stock has a market cap of $14.02 billion, a PE ratio of 22.90, a PEG ratio of 2.75 and a beta of 0.80.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $956.85 million. Logitech International had a return on equity of 30.80% and a net margin of 15.67%. On average, analysts anticipate that Logitech International S.A. will post 3.86 earnings per share for the current year.

Insider Transactions at Logitech International

In other news, CFO Charles D. Boynton bought 1,225 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $81.27 per share, with a total value of $99,555.75. Following the completion of the transaction, the chief financial officer now directly owns 1,225 shares of the company’s stock, valued at approximately $99,555.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOGI. Claro Advisors LLC boosted its holdings in Logitech International by 6.2% in the first quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock worth $200,000 after acquiring an additional 131 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Logitech International by 2.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the technology company’s stock valued at $627,000 after purchasing an additional 153 shares during the last quarter. Blue Trust Inc. grew its position in Logitech International by 65.6% during the 4th quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock worth $40,000 after purchasing an additional 168 shares during the last quarter. Naples Global Advisors LLC increased its position in shares of Logitech International by 2.2% in the 1st quarter. Naples Global Advisors LLC now owns 13,256 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 291 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Logitech International by 1.6% in the first quarter. SG Americas Securities LLC now owns 19,056 shares of the technology company’s stock valued at $1,703,000 after purchasing an additional 297 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

About Logitech International

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.