Wall Street analysts forecast that Logitech (NASDAQ:LOGI) will post sales of $563.68 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Logitech’s earnings. The highest sales estimate is $568.03 million and the lowest is $559.33 million. Logitech reported sales of $496.17 million in the same quarter last year, which indicates a positive year over year growth rate of 13.6%. The business is expected to announce its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Logitech will report full year sales of $563.68 million for the current financial year, with estimates ranging from $2.53 billion to $2.54 billion. For the next year, analysts forecast that the business will report sales of $2.77 billion per share, with estimates ranging from $2.77 billion to $2.78 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Logitech.
Logitech (NASDAQ:LOGI) last issued its quarterly earnings data on Monday, January 22nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.10. The firm had revenue of $812.02 million during the quarter, compared to analysts’ expectations of $753.47 million. Logitech had a return on equity of 23.38% and a net margin of 8.10%.
A number of equities analysts have recently weighed in on LOGI shares. BidaskClub cut Logitech from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Zacks Investment Research raised Logitech from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Citigroup boosted their price target on Logitech from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. JPMorgan Chase boosted their price target on Logitech from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, ValuEngine raised Logitech from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $45.33.
LOGI stock traded down $0.33 during midday trading on Friday, hitting $36.79. 133,662 shares of the stock were exchanged, compared to its average volume of 480,713. The stock has a market cap of $5,899.96, a PE ratio of 31.76, a P/E/G ratio of 4.40 and a beta of 0.90. Logitech has a fifty-two week low of $30.64 and a fifty-two week high of $43.54.
In other news, CEO Bracken Darrell sold 96,000 shares of Logitech stock in a transaction on Friday, January 26th. The stock was sold at an average price of $43.20, for a total value of $4,147,200.00. Following the completion of the sale, the chief executive officer now owns 783,427 shares of the company’s stock, valued at $33,844,046.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marcel Stolk sold 20,000 shares of Logitech stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $39.48, for a total value of $789,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 292,673 shares of company stock valued at $12,376,204. Insiders own 2.20% of the company’s stock.
Several large investors have recently made changes to their positions in LOGI. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Logitech in the fourth quarter valued at $38,929,000. Bank of New York Mellon Corp grew its position in shares of Logitech by 750.1% in the fourth quarter. Bank of New York Mellon Corp now owns 902,531 shares of the technology company’s stock valued at $30,471,000 after purchasing an additional 796,361 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Logitech by 142.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,204,941 shares of the technology company’s stock valued at $40,681,000 after purchasing an additional 708,752 shares during the period. Icon Advisers Inc. Co. grew its position in shares of Logitech by 1,131.1% in the fourth quarter. Icon Advisers Inc. Co. now owns 280,684 shares of the technology company’s stock valued at $9,442,000 after purchasing an additional 257,884 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of Logitech by 8.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,335,429 shares of the technology company’s stock valued at $45,087,000 after purchasing an additional 100,740 shares during the period. 35.10% of the stock is owned by institutional investors and hedge funds.
Logitech 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 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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