Could Logitech International S.A. (LOGI) Change Direction After This Descending Triangle Pattern

December 8, 2017 - By Vivian Park

Investors sentiment decreased to 1.33 in Q2 2017. Its down 0.10, from 1.43 in 2017Q1. It is negative, as 11 investors sold Logitech International S.A. shares while 34 reduced holdings. 22 funds opened positions while 38 raised stakes. 58.97 million shares or 4.67% more from 56.34 million shares in 2017Q1 were reported.
Invesco holds 0.06% in Logitech International S.A. (NASDAQ:LOGI) or 5.42M shares. Art Lc holds 7,394 shares or 0.01% of its portfolio. Lenox Wealth Mgmt owns 12,811 shares. The New York-based Citigroup has invested 0.02% in Logitech International S.A. (NASDAQ:LOGI). Schroder Grp stated it has 4.70M shares. Eqis Cap, a California-based fund reported 44,563 shares. Commerzbank Aktiengesellschaft Fi holds 0.11% or 184,019 shares in its portfolio. Tower Rech Cap Limited Liability Company (Trc) holds 532 shares. Dorsey Wright And Assoc invested 0.4% of its portfolio in Logitech International S.A. (NASDAQ:LOGI). 144,991 are owned by Liberty Mutual Asset Management Incorporated. Prtnrs Limited Liability Company reported 172,137 shares stake. Group Incorporated One Trading Limited Partnership has 0% invested in Logitech International S.A. (NASDAQ:LOGI). Cap Fin Advisers Limited Liability Company reported 0.03% in Logitech International S.A. (NASDAQ:LOGI). First Advisors Lp owns 65,186 shares. Spark Ltd has 0.68% invested in Logitech International S.A. (NASDAQ:LOGI).

The stock of Logitech International S.A. (LOGI) formed a descending triangle with $34.24 target or 4.00 % above today’s $32.92 share price. The 7 months triangle pattern indicates low risk for the $5.52B company. If the $34.24 price target is reached, the company will be worth $220.72 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.21% or $0.07 during the last trading session, reaching $32.92. About 585,439 shares traded or 50.07% up from the average. Logitech International S.A. (NASDAQ:LOGI) has risen 143.25% since December 8, 2016 and is uptrending. It has outperformed by 126.55% the S&P500.

Analysts await Logitech International S.A. (NASDAQ:LOGI) to report earnings on January, 23. They expect $0.49 earnings per share, down 16.95 % or $0.10 from last year’s $0.59 per share. LOGI’s profit will be $82.13 million for 16.80 P/E if the $0.49 EPS becomes a reality. After $0.34 actual earnings per share reported by Logitech International S.A. for the previous quarter, Wall Street now forecasts 44.12 % EPS growth.

Logitech International S.A. (NASDAQ:LOGI) Ratings Coverage

Among 7 analysts covering Logitech Intl SA (NASDAQ:LOGI), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Logitech Intl SA had 7 analyst reports since August 19, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Tuesday, April 5 by Sterne Agee CRT. The firm has “Neutral” rating by JP Morgan given on Thursday, October 27. UBS downgraded the stock to “Neutral” rating in Tuesday, August 23 report. The firm earned “Equal-Weight” rating on Wednesday, August 10 by Morgan Stanley. Rosenblatt initiated the shares of LOGI in report on Wednesday, August 19 with “Buy” rating.

More important recent Logitech International S.A. (NASDAQ:LOGI) news were published by: Benzinga.com which released: “Logitech Is Ready To Show It Is Bigger Than Just Computer Mouses” on March 06, 2017, also Investorplace.com published article titled: “Logitech International SA (LOGI) to Boost Console Market Foothold With Astro …”, Fool.com published: “Why Is Logitech International SA (USA) Soaring Today?” on January 22, 2015. More interesting news about Logitech International S.A. (NASDAQ:LOGI) was released by: Investorplace.com and their article: “Logitech International SA (USA) (LOGI) Shares Plunge Despite Better-Than …” with publication date: July 25, 2017.

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