Logitech International S.A. (NASDAQ:LOGI) Sees Large Drop in Short Interest

Logitech International S.A. (NASDAQ:LOGI) was the recipient of a large drop in short interest in 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 trading volume of 608,200 shares, the days-to-cover ratio is presently 7.0 days. Currently, 3.3% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages recently commented on LOGI. Bank of America lowered shares of Logitech International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $114.00 to $92.00 in a research note on Monday, December 16th. Barclays lifted their price target on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wedbush reiterated a “neutral” rating and set a $88.00 price target on shares of Logitech International in a research note on Wednesday, January 22nd. 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, Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $97.13.

Insider Buying and Selling

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

Institutional Trading of Logitech International

A number of institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Logitech International by 4,876.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock valued at $13,798,000 after purchasing an additional 164,185 shares in the last quarter. SpiderRock Advisors LLC purchased a new stake in shares of Logitech International in the third quarter valued at about $1,431,000. Assetmark Inc. lifted its holdings in shares of Logitech International by 6,766.2% in the third quarter. Assetmark Inc. now owns 49,231 shares of the technology company’s stock valued at $4,418,000 after purchasing an additional 48,514 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Logitech International in the third quarter valued at about $1,299,000. Finally, Strengthening Families & Communities LLC lifted its holdings in shares of Logitech International by 9.2% in the third quarter. Strengthening Families & Communities LLC now owns 4,498 shares of the technology company’s stock valued at $404,000 after purchasing an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Trading Up 1.7 %

Shares of Logitech International stock traded up $1.76 on Friday, reaching $105.06. 868,872 shares of the stock were exchanged, compared to its average volume of 961,655. Logitech International has a 1-year low of $74.72 and a 1-year high of $105.65. The business has a fifty day moving average price of $89.21 and a two-hundred day moving average price of $86.52. The firm has a market capitalization of $16.62 billion, a PE ratio of 24.66, a PEG ratio of 2.54 and a beta of 0.78.

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%. Research analysts expect that Logitech International will post 4.18 EPS for the current year.

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.