Short Interest in Logitech International SA Declines By 6.1% (LOGI)
Shares of Logitech International SA (NASDAQ:LOGI) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 18,215,224 shares, a decrease of 6.1% from the July 15th total of 19,400,612 shares, AR Network reports. Based on an average trading volume of 762,656 shares, the short-interest ratio is presently 23.9 days. Approximately 12.3% of the shares of the stock are sold short.
A number of analysts have recently weighed in on LOGI shares. Analysts at Zacks reiterated an “outperform” rating on shares of Logitech International SA in a research note on Thursday, July 31st. They now have a $18.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Logitech International SA from an “underweight” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $15.00 price target on the stock, up previously from $13.50. Finally, analysts at Vontobel upgraded shares of Logitech International SA from a “hold” rating to a “buy” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.50.
Logitech International SA (NASDAQ:LOGI) opened at 14.00 on Wednesday. Logitech International SA has a 52-week low of $7.15 and a 52-week high of $16.88. The stock’s 50-day moving average is $13.61 and its 200-day moving average is $14.30. The company has a market cap of $2.282 billion and a P/E ratio of 24.41.
Logitech International SA (NASDAQ:LOGI) last announced its earnings results on Thursday, July 24th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.15. The company had revenue of $484.00 million for the quarter, compared to the consensus estimate of $476.95 million. During the same quarter last year, the company posted $0.01 earnings per share. Logitech International SA’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Logitech International SA will post $0.87 earnings per share for the current fiscal year.
Logitech International SA (NASDAQ:LOGI) 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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