Logitech International (NASDAQ:LOGI) Shares Gap Down – Should You Sell?

Logitech International S.A. (NASDAQ:LOGI) gapped down prior to trading on Wednesday. The stock had previously closed at $111.82, but opened at $99.89. Logitech International shares last traded at $99.9850, with a volume of 582,605 shares trading hands.

Logitech International News Roundup

Here are the key news stories impacting Logitech International this week:

• Positive Sentiment: Logitech reported fiscal second-quarter earnings of $1.51 per share, ahead of the $1.34 consensus estimate, while revenue increased 2.8% year over year to $1.22 billion, slightly exceeding expectations. Logitech Announces Q2 Fiscal Year 2027 Results
• Positive Sentiment: Growth in gaming and conferencing products supported the quarter, helping Logitech deliver a year-over-year increase in earnings despite only modest overall revenue growth. Logitech beats profit forecast as sales of gaming, conferencing products rise
• Neutral Sentiment: Management issued a third-quarter outlook following the results. Investors are likely to compare the forecast with the company’s longer-term growth and margin expectations. Logitech International Fiscal Q2 Non-GAAP Earnings, Revenue Rise; Issues Q3 Outlook
• Neutral Sentiment: A group of 10 analysts had a consensus price target of approximately $104.14, suggesting limited upside from the stock’s recent trading range. Ten analysts set a USD 104.14 consensus for Logitech stock
• Negative Sentiment: Shares fell sharply after the report, with Logitech losing roughly $2 billion in market value. Analysts cited profit-taking and concerns that margins may be under pressure, overshadowing the better-than-expected profit and revenue figures. Logitech sheds $2 billion market cap as margin concerns overshadow profit beat

Analyst Upgrades and Downgrades

LOGI has been the subject of a number of research reports. Barclays cut their target price on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Wedbush dropped their price objective on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Morgan Stanley cut their price objective on Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings lowered Logitech International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, 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 note on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $104.14.

Logitech International Trading Down 10.2%

The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 18.22 and a beta of 1.14. The business has a 50 day simple moving average of $102.01 and a two-hundred day simple moving average of $99.71.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, October 27th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.34 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm posted $1.45 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts anticipate that Logitech International S.A. will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 16,265 shares of the business’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by insiders.

Institutional Trading of Logitech International

Several institutional investors have recently modified their holdings of LOGI. Strengthening Families & Communities LLC acquired a new position in Logitech International during the third quarter worth about $44,000. MassMutual Private Wealth & Trust FSB acquired a new stake in Logitech International during the third quarter valued at approximately $64,000. Fifth Third Bancorp boosted its holdings in Logitech International by 19.1% during the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after buying an additional 145 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Logitech International by 15.3% in the fourth 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. Finally, Integrated Wealth Concepts LLC acquired a new position in Logitech International in the second quarter worth approximately $115,000. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International designs and manufactures hardware and software that connect people to digital devices and support communication, collaboration, content creation and gaming. Its products are sold under the Logitech brand and are used by consumers, businesses, educators, gamers and other professional users worldwide.

The company’s portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, video-conferencing systems, presentation tools and gaming peripherals.