The stock of Logitech International SA (USA) (NASDAQ:LOGI) gapped up by $0.59 today and has $35.75 target or 52.00% above today’s $23.52 share price. The 5 months technical chart setup indicates low risk for the $4.09 billion company. The gap was reported on Oct, 4 by Barchart.com. If the $35.75 price target is reached, the company will be worth $2.13B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 4.72% or $1.06 during the last trading session, hitting $23.52. About 1.14 million shares traded hands or 125.12% up from the average. Logitech International SA (USA) (NASDAQ:LOGI) has risen 48.39% since March 1, 2016 and is uptrending. It has outperformed by 36.18% 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 $27.82M for 36.75 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. The rating was downgraded by UBS on Tuesday, August 23 to “Neutral”. On Tuesday, April 5 the stock rating was initiated by Sterne Agee CRT with “Neutral”. The rating was initiated by Rosenblatt on Wednesday, August 19 with “Buy”. Morgan Stanley upgraded Logitech International SA (USA) (NASDAQ:LOGI) on Wednesday, August 10 to “Equal-Weight” rating.
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.
Deere & has 12,197 shares for 0.01% of their US portfolio. First Advsrs Limited Partnership reported 87,618 shares or 0% of all its holdings. Invesco last reported 0.03% of its portfolio in the stock. Tower Research Capital Lc (Trc) last reported 0% of its portfolio in the stock. Barclays Public Ltd Com holds 0.03% of its portfolio in Logitech International SA (USA) (NASDAQ:LOGI) for 1.45M shares. Dekabank Deutsche Girozentrale has invested 0.03% of its portfolio in Logitech International SA (USA) (NASDAQ:LOGI). Retail Bank Of America De has invested 0% of its portfolio in Logitech International SA (USA) (NASDAQ:LOGI). Lmr Prtn Llp has 0.06% invested in the company for 24,092 shares. Us Bank De has 1,662 shares for 0% of their US portfolio. Jackson Square Limited Com has 53,661 shares for 0% of their US portfolio. Hsbc Holding Public Limited Com reported 53,940 shares or 0% of all its holdings. Raymond James Associate last reported 47,135 shares in the company. United Capital Fincl Advisers Ltd Liability Co owns 121,984 shares or 0.02% of their US portfolio. Axa holds 0.01% or 130,300 shares in its portfolio. Credit Agricole S A has 2.15M shares for 0.13% of their US portfolio.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 3 insider sales for $7.06 million net activity. 22,500 shares with value of $489,375 were sold by Sullivan L Joseph on Wednesday, September 14. $4.58 million worth of shares were sold by Stolk Marcel on Friday, August 5. $1.99 million worth of Logitech International SA (USA) (NASDAQ:LOGI) was sold by Pilette Vincent.
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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