Short Interest in Logitech International SA Rises By 11.8% (LOGI)
Shares of Logitech International SA (NASDAQ:LOGI) saw a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 20,368,639 shares, a growth of 11.8% from the July 31st total of 18,215,224 shares, AnalystRatingsNetwork.com reports. Approximately 13.7% of the shares of the stock are sold short. Based on an average trading volume of 660,906 shares, the short-interest ratio is presently 30.8 days.
LOGI has been the subject of a number of recent research reports. 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Logitech International SA currently has a consensus rating of “Hold” and a consensus target price of $16.50.
Shares of Logitech International SA (NASDAQ:LOGI) opened at 13.76 on Monday. Logitech International SA has a 1-year low of $7.70 and a 1-year high of $16.88. The stock has a 50-day moving average of $13.96 and a 200-day moving average of $14.16. The company has a market cap of $2.243 billion and a price-to-earnings ratio of 23.79.
Logitech International SA (NASDAQ:LOGI) last released its earnings data on Thursday, July 24th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. 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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