Logitech International S.A. (LOGI) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS
Logitech International S.A. (NASDAQ:LOGI) posted its earnings results on Monday. The technology company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04, RTT News reports. The company had revenue of $529.95 million during the quarter, compared to analysts’ expectations of $521.24 million. Logitech International had a net margin of 8.68% and a return on equity of 25.21%.
Shares of Logitech International (NASDAQ:LOGI) traded up 1.710% during trading on Wednesday, hitting $37.175. 1,087,091 shares of the company’s stock were exchanged. The company has a 50-day moving average of $37.41 and a 200-day moving average of $32.59. Logitech International has a 12-month low of $16.79 and a 12-month high of $40.82. The company has a market cap of $6.08 billion, a P/E ratio of 29.980 and a beta of 0.57.
LOGI has been the subject of several research analyst reports. Loop Capital initiated coverage on shares of Logitech International in a research note on Monday. They set a “buy” rating and a $48.00 target price for the company. Citigroup Inc. initiated coverage on shares of Logitech International in a research note on Thursday, July 6th. They set a “buy” rating and a $44.00 target price for the company. Finally, Aegis initiated coverage on shares of Logitech International in a research note on Tuesday, June 13th. They set a “buy” rating and a $48.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Logitech International presently has a consensus rating of “Buy” and an average target price of $33.98.
In other news, SVP Marcel Stolk sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $34.16, for a total transaction of $3,416,000.00. Following the completion of the sale, the senior vice president now owns 131,372 shares of the company’s stock, valued at $4,487,667.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 295,363 shares of company stock valued at $9,840,515 in the last ninety days. Insiders own 1.90% of the company’s stock.
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Logitech International 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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