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

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LOGI. Quarry LP acquired a new position in shares of Logitech International during the third quarter valued at about $30,000. Mather Group LLC. bought a new stake in Logitech International in the 3rd quarter valued at about $34,000. Westside Investment Management Inc. raised its stake in Logitech International by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 326 shares of the technology company’s stock worth $36,000 after buying an additional 163 shares during the period. Richardson Financial Services Inc. boosted its holdings in Logitech International by 63.7% in the third quarter. Richardson Financial Services Inc. now owns 329 shares of the technology company’s stock worth $36,000 after acquiring an additional 128 shares in the last quarter. Finally, Westerkirk Capital Inc. acquired a new stake in Logitech International in the second quarter valued at approximately $36,000. 45.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LOGI. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. JPMorgan Chase & Co. upped their price target on shares of Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Morgan Stanley restated an “underweight” rating and issued a $89.00 price objective (down previously from $107.00) on shares of Logitech International in a research note on Tuesday, January 20th. Wedbush reiterated an “outperform” rating and issued a $135.00 price objective on shares of Logitech International in a report on Tuesday, January 20th. Finally, Citigroup cut their target price on shares of Logitech International from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.13.

Logitech International Stock Down 3.0%

NASDAQ LOGI traded down $2.64 on Friday, hitting $85.84. 1,374,302 shares of the company’s stock were exchanged, compared to its average volume of 1,522,205. Logitech International has a 52 week low of $64.73 and a 52 week high of $123.01. The stock has a 50-day moving average of $103.76 and a 200-day moving average of $105.59.

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

About Logitech International

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.