The stock of Logitech International SA (USA) (NASDAQ:LOGI) hit a new 52-week high and has $31.80 target or 37.00% above today’s $23.21 share price. The 7 months bullish chart indicates low risk for the $4.03B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $31.80 price target is reached, the company will be worth $1.49 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 130,032 shares traded hands. Logitech International SA (USA) (NASDAQ:LOGI) has risen 46.51% since February 29, 2016 and is uptrending. It has outperformed by 34.29% the S&P500.
Analysts await Logitech International SA (USA) (NASDAQ:LOGI) to report earnings on October, 19. They expect $0.16 earnings per share, down 11.11% or $0.02 from last year’s $0.18 per share. LOGI’s profit will be $27.78M for 36.27 P/E if the $0.16 EPS becomes a reality. After $0.15 actual earnings per share reported by Logitech International SA (USA) for the previous quarter, Wall Street now forecasts 6.67% EPS growth.
Logitech International SA (USA) (NASDAQ:LOGI) Ratings Coverage
Out of 4 analysts covering Logitech Intl SA (NASDAQ:LOGI), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Logitech Intl SA has been the topic of 4 analyst reports since August 19, 2015 according to StockzIntelligence Inc. UBS downgraded the shares of LOGI in a report on Tuesday, August 23 to “Neutral” rating. The company was initiated on Wednesday, August 19 by Rosenblatt. Sterne Agee CRT initiated the stock with “Neutral” rating in Tuesday, April 5 report. The stock of Logitech International SA (USA) (NASDAQ:LOGI) has “Equal-Weight” rating given on Wednesday, August 10 by Morgan Stanley.
According to Zacks Investment Research, “Logitech designs, manufactures and markets innovative peripherals that provide people with easy access to the digital world. The Company’s product family includes Internet video cameras, mice and trackballs, keyboards, audio and telephony products, interactive gaming devices and 3D controllers.”
Insitutional Activity: The institutional sentiment decreased to 0.74 in Q2 2016. Its down 0.85, from 1.59 in 2016Q1. The ratio fall, as 21 funds sold all Logitech International SA (USA) shares owned while 29 reduced positions. 15 funds bought stakes while 22 increased positions. They now own 52.73 million shares or 8.22% less from 57.46 million shares in 2016Q1.
Dimensional Fund Limited Partnership accumulated 0% or 285,029 shares. Cipher Capital L P holds 0.01% of its portfolio in Logitech International SA (USA) (NASDAQ:LOGI) for 10,523 shares. The Ontario – Canada-based Royal Commercial Bank Of Canada has invested 0% in Logitech International SA (USA) (NASDAQ:LOGI). World Asset Mgmt last reported 10,776 shares in the company. The Pennsylvania-based Pnc Financial Gru has invested 0% in Logitech International SA (USA) (NASDAQ:LOGI). Invesco holds 5.49M shares or 0.03% of its portfolio. Canada Pension Plan Board, a Ontario – Canada-based fund reported 547,853 shares. Alliancebernstein Lp last reported 47,108 shares in the company. Nationwide Fund Advisors reported 39,079 shares or 0% of all its holdings. Susquehanna Int Ltd Liability Partnership last reported 0% of its portfolio in the stock. Axa holds 0.01% of its portfolio in Logitech International SA (USA) (NASDAQ:LOGI) for 130,300 shares. The Germany-based Lingohr And Partner Asset Mngmt Gmbh has invested 5.08% in Logitech International SA (USA) (NASDAQ:LOGI). Us Fincl Bank De has 0% invested in the company for 1,662 shares. United Financial Advisers Limited Liability Co, a California-based fund reported 121,984 shares. Moreover, Citigroup has 0% invested in Logitech International SA (USA) (NASDAQ:LOGI) for 166,491 shares.
Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 3 sales for $7.06 million net activity. On Friday, July 29 Pilette Vincent sold $1.99 million worth of the stock or 100,000 shares. 225,000 Logitech International SA (USA) (NASDAQ:LOGI) shares with value of $4.58 million were sold by Stolk Marcel. On Wednesday, September 14 the insider Sullivan L Joseph sold $489,375.
More notable recent Logitech International SA (USA) (NASDAQ:LOGI) news were published by: Fool.com which released: “Why Is Logitech International SA (USA) Soaring Today?” on January 22, 2015, also Schaeffersresearch.com with their article: “Analyst Downgrades: Zoe’s Kitchen Inc, Logitech International SA, and Pan …” published on August 23, 2016, Bidnessetc.com published: “Logitech International SA (USA) Launches Gaming Headphones With Advanced Audio …” on August 31, 2015. More interesting news about Logitech International SA (USA) (NASDAQ:LOGI) were released by: Digitaljournal.com and their article: “Investigation for Investors over Potential Wrongdoing at Logitech …” published on September 13, 2016 as well as Bidnessetc.com‘s news article titled: “Logitech International SA Announces 3 Drop-Proof Logi BLOK iPad Cases” with publication date: July 16, 2015.
LOGI Company Profile
Logitech International S.A., incorporated on May 2, 1988, is a holding company. The Firm designs, makes and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Firm operates through peripheral segment. The Firm offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors. The Company’s retail network across the world includes consumer electronics distributors, retailers, mass merchandisers, specialty electronics stores, computer and telecommunications stores, value-added resellers and online merchants.
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