Short Interest in Logitech International S.A. (NASDAQ:LOGI) Declines By 27.3%

Logitech International S.A. (NASDAQ:LOGI) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 4,270,000 shares, a decrease of 27.3% from the January 15th total of 5,870,000 shares. Based on an average trading volume of 608,200 shares, the short-interest ratio is currently 7.0 days. Currently, 3.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOGI. Citigroup increased their price objective on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. StockNews.com upgraded Logitech International from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Bank of America cut Logitech International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $114.00 to $92.00 in a research report on Monday, December 16th. Finally, Loop Capital decreased their price target on Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $97.13.

Logitech International Trading Up 1.5 %

Logitech International stock traded up $1.57 during trading on Friday, hitting $104.87. 388,520 shares of the company were exchanged, compared to its average volume of 834,972. Logitech International has a 52 week low of $74.72 and a 52 week high of $105.65. The business’s 50 day moving average is $88.81 and its 200 day moving average is $86.45. The company has a market capitalization of $16.59 billion, a P/E ratio of 24.66, a PEG ratio of 2.54 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Equities analysts expect that Logitech International will post 4.18 EPS for the current year.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares in the company, valued at $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LOGI. Barclays PLC lifted its stake in shares of Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after purchasing an additional 1,967,133 shares during the period. Norges Bank bought a new position in Logitech International during the 4th quarter valued at approximately $156,888,000. Assenagon Asset Management S.A. increased its position in Logitech International by 2,315.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock valued at $119,673,000 after buying an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. increased its position in Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after buying an additional 1,240,478 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Logitech International by 700.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock valued at $61,978,000 after buying an additional 655,025 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.