Logitech International (NASDAQ:LOGI) Shares Break Above Two Hundred Day Moving Average – Time to Sell?

Logitech International S.A. (NASDAQ:LOGI)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $101.77 and traded as high as $103.63. Logitech International shares last traded at $101.38, with a volume of 417,522 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on LOGI shares. Wall Street Zen downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Barclays cut their price objective on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on Logitech International from $120.00 to $102.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research report on Tuesday, June 30th. Finally, Morgan Stanley reduced their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $105.29.

Logitech International Trading Down 0.2%

The company has a market cap of $14.98 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 3.70 and a beta of 1.14. The stock has a 50-day simple moving average of $101.49 and a 200-day simple moving average of $101.85.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts expect that Logitech International S.A. will post 5.24 EPS for the current fiscal year.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the transaction, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by insiders.

Institutional Trading of Logitech International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its stake in shares of Logitech International by 15.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after buying an additional 114 shares during the last quarter. Fifth Third Bancorp raised its holdings in Logitech International by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after acquiring an additional 145 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Logitech International by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,019 shares of the technology company’s stock worth $364,000 after acquiring an additional 171 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in Logitech International by 2.8% during the first quarter. Frank Rimerman Advisors LLC now owns 11,717 shares of the technology company’s stock worth $1,068,000 after acquiring an additional 317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Logitech International by 14.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the technology company’s stock worth $226,000 after acquiring an additional 320 shares during the period. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Logitech International Company Profile

Logitech International is a technology company that designs and develops hardware and software intended to help people connect, create, communicate and interact with digital devices. Its products are sold to consumers, businesses, educators, gamers, streamers and other professional users through retailers, online channels and business partners worldwide.

The company’s product portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, presentation devices and accessories.