Logitech International S.A. (NASDAQ:LOGI) Sees Significant Growth in Short Interest

Logitech International S.A. (NASDAQ:LOGI) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 11,366,007 shares, an increase of 38.0% from the December 31st total of 8,236,040 shares. Based on an average daily volume of 1,144,381 shares, the days-to-cover ratio is presently 9.9 days. Based on an average daily volume of 1,144,381 shares, the days-to-cover ratio is presently 9.9 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LOGI shares. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Morgan Stanley reissued an “underweight” rating and set a $89.00 price objective (down from $107.00) on shares of Logitech International in a report on Tuesday, January 20th. Wedbush reaffirmed an “outperform” rating and set a $135.00 target price on shares of Logitech International in a research report on Tuesday, January 20th. JPMorgan Chase & Co. upped their price target on Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, BNP Paribas Exane downgraded shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 price objective on the stock. in a report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Logitech International presently has an average rating of “Hold” and a consensus price target of $102.13.

Logitech International Trading Down 3.0%

Shares of NASDAQ LOGI traded down $2.64 during mid-day trading on Friday, reaching $85.84. 1,374,302 shares of the company’s stock were exchanged, compared to its average volume of 1,522,205. The firm has a 50-day moving average price of $103.76 and a two-hundred day moving average price of $105.59. Logitech International has a 52 week low of $64.73 and a 52 week high of $123.01.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, January 27th. The technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $1.59 earnings per share. Logitech International’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that Logitech International will post 4.21 EPS for the current year.

Institutional Investors Weigh In On Logitech International

Several institutional investors have recently added to or reduced their stakes in the business. Virtus Advisers LLC acquired a new stake in Logitech International during the 2nd quarter worth about $246,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Logitech International by 46.5% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 105,685 shares of the technology company’s stock valued at $11,520,000 after purchasing an additional 33,564 shares during the period. Vise Technologies Inc. purchased a new position in shares of Logitech International in the second quarter worth about $329,000. Assetmark Inc. lifted its holdings in shares of Logitech International by 6.9% during the second quarter. Assetmark Inc. now owns 56,375 shares of the technology company’s stock worth $5,081,000 after purchasing an additional 3,640 shares during the period. Finally, BLI Banque de Luxembourg Investments boosted its position in Logitech International by 19.7% in the second quarter. BLI Banque de Luxembourg Investments now owns 75,525 shares of the technology company’s stock valued at $6,752,000 after buying an additional 12,446 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.