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

Logitech International S.A. (NASDAQ:LOGI) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 8,236,040 shares, a growth of 39.1% from the December 15th total of 5,921,423 shares. Currently, 5.2% of the shares of the company are short sold. Based on an average daily trading volume, of 734,586 shares, the short-interest ratio is presently 11.2 days. Based on an average daily trading volume, of 734,586 shares, the short-interest ratio is presently 11.2 days. Currently, 5.2% of the shares of the company are short sold.

Insider Activity

In other news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $120.61, for a total value of $703,518.13. Following the transaction, the director directly owned 12,781 shares of the company’s stock, valued at $1,541,516.41. This represents a 31.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Logitech International

Several hedge funds have recently added to or reduced their stakes in LOGI. Arrowstreet Capital Limited Partnership lifted its stake in Logitech International by 305.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,084,820 shares of the technology company’s stock valued at $227,859,000 after purchasing an additional 1,570,876 shares during the last quarter. Credit Agricole S A purchased a new stake in shares of Logitech International during the 3rd quarter valued at approximately $104,402,000. Assenagon Asset Management S.A. boosted its holdings in Logitech International by 91.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,701,985 shares of the technology company’s stock worth $152,757,000 after buying an additional 815,280 shares during the period. Marshall Wace LLP grew its stake in Logitech International by 585.5% in the 3rd quarter. Marshall Wace LLP now owns 550,833 shares of the technology company’s stock valued at $60,330,000 after buying an additional 470,476 shares in the last quarter. Finally, Norges Bank bought a new stake in Logitech International during the 2nd quarter valued at $42,240,000. Institutional investors own 45.76% of the company’s stock.

Analysts Set New Price Targets

LOGI has been the subject of several recent analyst reports. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. JPMorgan Chase & Co. increased their target price on shares of Logitech International from $104.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Barclays restated an “equal weight” rating and issued a $98.00 price target (down from $134.00) on shares of Logitech International in a research note on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Logitech International in a research report on Wednesday, October 8th. Finally, BNP Paribas Exane lowered shares of Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price on the stock. in a research report on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.89.

Logitech International Price Performance

Shares of NASDAQ LOGI traded down $1.12 during trading on Friday, hitting $95.48. 1,579,179 shares of the company traded hands, compared to its average volume of 811,669. The business’s fifty day moving average is $108.47 and its 200 day moving average is $105.63. Logitech International has a fifty-two week low of $64.73 and a fifty-two week high of $123.01.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.23. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. Equities research analysts anticipate that Logitech International will post 4.21 earnings per share for the current fiscal year.

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.