Equities research analysts predict that Logitech (NASDAQ:LOGI) will post $563.68 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Logitech’s earnings, with estimates ranging from $559.33 million to $568.03 million. Logitech reported sales of $496.17 million during the same quarter last year, which indicates a positive year over year growth rate of 13.6%. The company is expected to announce its next earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Logitech will report full year sales of $563.68 million for the current year, with estimates ranging from $2.53 billion to $2.54 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.77 billion per share, with estimates ranging from $2.77 billion to $2.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Logitech.
Logitech (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, January 22nd. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. Logitech had a return on equity of 23.38% and a net margin of 8.10%. The company had revenue of $812.02 million for the quarter, compared to the consensus estimate of $753.47 million.
Several analysts have weighed in on LOGI shares. ValuEngine raised Logitech from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. BidaskClub raised Logitech from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Zacks Investment Research raised Logitech from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. JPMorgan Chase lifted their price objective on Logitech from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Citigroup lifted their price objective on Logitech from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Logitech has an average rating of “Buy” and a consensus target price of $45.33.
In other news, CFO Vincent Pilette sold 81,302 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $42.35, for a total value of $3,443,139.70. Following the sale, the chief financial officer now directly owns 339,259 shares of the company’s stock, valued at approximately $14,367,618.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Bracken Darrell sold 96,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $43.20, for a total value of $4,147,200.00. Following the completion of the sale, the chief executive officer now directly owns 783,427 shares in the company, valued at $33,844,046.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 292,673 shares of company stock worth $12,376,204. Insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Jackson Square Partners LLC boosted its position in shares of Logitech by 0.9% in the 4th quarter. Jackson Square Partners LLC now owns 3,339,757 shares of the technology company’s stock worth $112,754,000 after purchasing an additional 28,368 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Logitech by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,335,429 shares of the technology company’s stock worth $45,087,000 after purchasing an additional 100,740 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Logitech by 142.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,204,941 shares of the technology company’s stock worth $40,681,000 after purchasing an additional 708,752 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Logitech in the 4th quarter worth approximately $38,929,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Logitech by 750.1% in the 4th quarter. Bank of New York Mellon Corp now owns 902,531 shares of the technology company’s stock worth $30,471,000 after purchasing an additional 796,361 shares in the last quarter. 35.10% of the stock is currently owned by hedge funds and other institutional investors.
Logitech stock opened at $35.88 on Friday. The company has a market cap of $5,945.94, a price-to-earnings ratio of 30.93, a PEG ratio of 4.44 and a beta of 0.90. Logitech has a fifty-two week low of $30.64 and a fifty-two week high of $43.54.
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Logitech Company Profile
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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