$520.96 Million in Sales Expected for Logitech International SA (LOGI) This Quarter
Analysts forecast that Logitech International SA (NASDAQ:LOGI) will announce sales of $520.96 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Logitech International SA’s earnings, with the highest sales estimate coming in at $527.43 million and the lowest estimate coming in at $514.49 million. Logitech International SA posted sales of $479.86 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The firm is expected to issue its next earnings report on Wednesday, July 26th.
On average, analysts expect that Logitech International SA will report full year sales of $520.96 million for the current financial year, with estimates ranging from $2.38 billion to $2.43 billion. For the next financial year, analysts expect that the firm will report sales of $2.56 billion per share, with estimates ranging from $2.54 billion to $2.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Logitech International SA.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Logitech International SA from a “sell” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a report on Monday, January 30th. Brean Capital restated a “buy” rating and issued a $40.00 price objective on shares of Logitech International SA in a report on Thursday, January 26th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $27.44.
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In other Logitech International SA news, SVP Marcel Stolk sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $34.16, for a total value of $3,416,000.00. Following the completion of the transaction, the senior vice president now directly owns 131,372 shares in the company, valued at $4,487,667.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neil D. Hunt sold 5,000 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $29.61, for a total transaction of $148,050.00. Following the completion of the transaction, the director now owns 59,510 shares of the company’s stock, valued at $1,762,091.10. The disclosure for this sale can be found here. Insiders sold 350,363 shares of company stock valued at $11,480,315 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of Logitech International SA by 5.0% in the third quarter. Wells Fargo & Company MN now owns 5,682 shares of the technology company’s stock worth $128,000 after buying an additional 272 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Logitech International SA during the first quarter worth approximately $219,000. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in shares of Logitech International SA during the first quarter worth approximately $239,000. Koch Industries Inc. purchased a new position in shares of Logitech International SA during the first quarter worth approximately $282,000. Finally, James Investment Research Inc. increased its position in shares of Logitech International SA by 539.5% in the first quarter. James Investment Research Inc. now owns 9,106 shares of the technology company’s stock worth $290,000 after buying an additional 7,682 shares in the last quarter. Institutional investors and hedge funds own 36.96% of the company’s stock.
Shares of Logitech International SA (NASDAQ:LOGI) traded up 1.07% on Friday, reaching $34.90. 235,969 shares of the company’s stock traded hands. Logitech International SA has a 12-month low of $14.36 and a 12-month high of $34.99. The firm has a market cap of $5.67 billion, a P/E ratio of 30.09 and a beta of 0.47. The stock has a 50-day moving average of $32.27 and a 200 day moving average of $27.98.
Logitech International SA Company Profile
Logitech International SA is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors.
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