Brokerages expect Logitech International SA (NASDAQ:LOGI) to post sales of $695.41 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Logitech International’s earnings. The highest sales estimate is $701.09 million and the lowest is $689.73 million. Logitech International posted sales of $634.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, October 22nd.
On average, analysts expect that Logitech International will report full year sales of $2.85 billion for the current year. For the next fiscal year, analysts forecast that the business will post sales of $3.13 billion, with estimates ranging from $3.11 billion to $3.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Logitech International.
Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Monday, July 30th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07. Logitech International had a return on equity of 24.63% and a net margin of 7.97%. The business had revenue of $608.48 million for the quarter, compared to analyst estimates of $584.37 million. During the same period last year, the company earned $0.24 EPS.
LOGI has been the topic of several recent research reports. Goldman Sachs Group initiated coverage on Logitech International in a research report on Friday, June 22nd. They issued a “neutral” rating on the stock. Zacks Investment Research lowered Logitech International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 4th. DA Davidson raised their price target on Logitech International to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Loop Capital raised their price target on Logitech International to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Finally, Citigroup raised their price target on Logitech International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $49.20.
Shares of NASDAQ:LOGI traded down $0.64 during midday trading on Monday, hitting $39.05. The company had a trading volume of 371,738 shares, compared to its average volume of 240,603. Logitech International has a 12 month low of $32.66 and a 12 month high of $49.96. The firm has a market capitalization of $6.52 billion, a P/E ratio of 29.14, a P/E/G ratio of 2.48 and a beta of 0.96.
In other news, CEO Bracken Darrell sold 100,000 shares of the firm’s stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of LOGI. Financial Gravity Wealth Inc. bought a new position in Logitech International during the first quarter worth about $144,000. Bailard Inc. bought a new position in Logitech International during the second quarter worth about $206,000. Millennium Management LLC bought a new position in Logitech International during the first quarter worth about $207,000. Fox Run Management L.L.C. bought a new position in Logitech International during the third quarter worth about $238,000. Finally, Cutler Group LP lifted its holdings in Logitech International by 143.7% during the second quarter. Cutler Group LP now owns 5,508 shares of the technology company’s stock worth $241,000 after acquiring an additional 3,248 shares in the last quarter. Hedge funds and other institutional investors own 36.45% of the company’s stock.
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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