Logitech International S.A. (NASDAQ:LOGI) Short Interest Update

Logitech International S.A. (NASDAQ:LOGI) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 4,270,000 shares, a drop of 27.3% from the January 15th total of 5,870,000 shares. Based on an average daily volume of 608,200 shares, the short-interest ratio is presently 7.0 days. Currently, 3.3% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research analysts recently commented on LOGI shares. Wedbush restated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a report on Wednesday, January 22nd. Barclays lifted their price objective on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Citigroup lifted their price objective on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $97.13.

Logitech International Price Performance

Shares of NASDAQ:LOGI traded up $1.76 during midday trading on Friday, reaching $105.06. The company had a trading volume of 868,872 shares, compared to its average volume of 961,655. The stock has a market capitalization of $16.62 billion, a P/E ratio of 24.66, a PEG ratio of 2.54 and a beta of 0.78. The stock’s fifty day moving average price is $89.21 and its 200-day moving average price is $86.55. Logitech International has a one year low of $74.72 and a one year high of $105.65.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. As a group, sell-side analysts forecast that Logitech International will post 4.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the sale, the insider now directly owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Logitech International

Hedge funds and other institutional investors have recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of Logitech International during the fourth quarter valued at $27,000. Bessemer Group Inc. raised its stake in shares of Logitech International by 1,339.1% during the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after purchasing an additional 308 shares in the last quarter. Exane Asset Management bought a new stake in shares of Logitech International during the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC raised its stake in shares of Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock valued at $40,000 after purchasing an additional 439 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Logitech International during the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

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.