Published On: Thu, Sep 15th, 2016

Logitech International SA (LOGI) Short Interest Update

Logitech International SA (NASDAQ:LOGI) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 14,788,541 shares, a decrease of 10.9% from the August 15th total of 16,588,474 shares. Based on an average trading volume of 467,927 shares, the short-interest ratio is currently 31.6 days. Approximately 10.0% of the shares of the stock are sold short.
A number of research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.75 price objective (up previously from $18.00) on shares of Logitech International SA in a report on Wednesday, August 3rd. JPMorgan Chase & Co. upped their target price on Logitech International SA from $13.50 to $18.00 and gave the company an “underweight” rating in a report on Friday, July 29th. Finally, Morgan Stanley raised Logitech International SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.44.
Shares of Logitech International SA (NASDAQ:LOGI) opened at 21.84 on Thursday. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 27.30 and a beta of 1.19. Logitech International SA has a 1-year low of $12.52 and a 1-year high of $22.42. The company’s 50 day moving average price is $21.10 and its 200-day moving average price is $17.16.

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Logitech International SA (NASDAQ:LOGI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.07. Logitech International SA had a return on equity of 18.58% and a net margin of 6.46%. Equities analysts expect that Logitech International SA will post $1.08 EPS for the current fiscal year.
In related news, SVP Marcel Stolk sold 225,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $20.36, for a total transaction of $4,581,000.00. Following the transaction, the senior vice president now owns 478,002 shares of the company’s stock, valued at $9,732,120.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vincent Pilette sold 100,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $19.93, for a total value of $1,993,000.00. Following the transaction, the chief financial officer now directly owns 518,492 shares in the company, valued at approximately $10,333,545.56. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Aperio Group LLC increased its stake in Logitech International SA by 5.3% in the first quarter. Aperio Group LLC now owns 66,387 shares of the company’s stock worth $1,056,000 after buying an additional 3,369 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Logitech International SA by 1,720.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 116,420 shares of the company’s stock worth $1,852,000 after buying an additional 110,026 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Logitech International SA during the first quarter worth approximately $402,000. Royce & Associates LP increased its stake in Logitech International SA by 58.1% in the first quarter. Royce & Associates LP now owns 59,589 shares of the company’s stock worth $948,000 after buying an additional 21,889 shares in the last quarter. Finally, Spark Investment Management LLC increased its stake in Logitech International SA by 91.4% in the first quarter. Spark Investment Management LLC now owns 276,000 shares of the company’s stock worth $4,391,000 after buying an additional 131,800 shares in the last quarter. 33.78% of the stock is currently owned by institutional investors.
About Logitech International SA
Logitech International SA (Logitech) is a Switzerland-based company that, together with its subsidiaries, develops and markets hardware and software products that enable or enhance digital navigation, music and video entertainment, gaming, social networking, and audio and video communication over the Internet.

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