Logitech International (NASDAQ:LOGI) Shares Gap Down to $86.84

Logitech International S.A. (NASDAQ:LOGI) gapped down prior to trading on Monday . The stock had previously closed at $86.84, but opened at $83.79. Logitech International shares last traded at $81.37, with a volume of 366,655 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LOGI shares. Wedbush reiterated a “neutral” rating and issued a $92.00 price objective on shares of Logitech International in a report on Monday, March 18th. StockNews.com cut Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Barclays boosted their target price on Logitech International from $96.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Citigroup boosted their target price on Logitech International from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $75.00 target price (down from $85.00) on shares of Logitech International in a research note on Monday. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus target price of $92.43.

Logitech International Price Performance

The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.67 and a beta of 0.74. The firm has a 50-day moving average price of $88.24 and a two-hundred day moving average price of $85.98.

Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, January 22nd. The technology company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.43. Logitech International had a return on equity of 23.84% and a net margin of 11.44%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. On average, equities analysts predict that Logitech International S.A. will post 3.44 EPS for the current year.

Insider Buying and Selling

In related news, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the sale, the chief operating officer now owns 67,848 shares in the company, valued at $6,106,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $90.00, for a total transaction of $62,910.00. Following the sale, the chief operating officer now owns 67,848 shares in the company, valued at $6,106,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Harnett sold 650 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total value of $54,710.50. Following the completion of the sale, the insider now owns 11,910 shares in the company, valued at approximately $1,002,464.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,572 shares of company stock worth $2,207,555. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Large investors have recently made changes to their positions in the company. Vontobel Holding Ltd. increased its stake in shares of Logitech International by 2.3% during the fourth quarter. Vontobel Holding Ltd. now owns 5,285,659 shares of the technology company’s stock worth $501,223,000 after purchasing an additional 121,060 shares during the period. Allworth Financial LP increased its stake in shares of Logitech International by 249.1% during the third quarter. Allworth Financial LP now owns 754 shares of the technology company’s stock worth $52,000 after purchasing an additional 538 shares during the period. Qtron Investments LLC bought a new position in shares of Logitech International during the third quarter worth approximately $585,000. Tudor Investment Corp Et Al increased its stake in shares of Logitech International by 73.3% during the third quarter. Tudor Investment Corp Et Al now owns 58,914 shares of the technology company’s stock worth $4,062,000 after purchasing an additional 24,923 shares during the period. Finally, FMR LLC increased its stake in shares of Logitech International by 10.7% during the third quarter. FMR LLC now owns 49,033 shares of the technology company’s stock worth $3,390,000 after purchasing an additional 4,721 shares during the period. Institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.