$1.16 Billion in Sales Expected for Logitech International S.A. (NASDAQ:LOGI) This Quarter


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Wall Street brokerages expect that Logitech International S.A. (NASDAQ:LOGI) will report $1.16 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Logitech International’s earnings. The lowest sales estimate is $1.15 billion and the highest is $1.16 billion. Logitech International reported sales of $709.25 million during the same quarter last year, which indicates a positive year over year growth rate of 63.6%. The business is expected to announce its next earnings report after the market closes on Wednesday, April 28th.

On average, analysts expect that Logitech International will report full year sales of $4.87 billion for the current fiscal year, with estimates ranging from $4.85 billion to $4.87 billion. For the next financial year, analysts forecast that the business will report sales of $4.90 billion, with estimates ranging from $4.85 billion to $4.95 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Logitech International.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Sunday, January 17th. The technology company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $1.32. Logitech International had a return on equity of 38.26% and a net margin of 18.31%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business earned $0.69 earnings per share.

LOGI has been the topic of several research analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on Logitech International from $105.00 to $110.00 in a research note on Monday, December 21st. Citigroup raised their price objective on Logitech International from $110.00 to $130.00 in a research note on Wednesday, January 20th. Zacks Investment Research lowered Logitech International from a “strong-buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Tuesday, March 23rd. UBS Group reissued a “neutral” rating on shares of Logitech International in a research note on Monday, February 22nd. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Logitech International in a research note on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $109.89.

In other news, CEO Bracken Darrell sold 41,670 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $107.77, for a total transaction of $4,490,775.90. Following the completion of the sale, the chief executive officer now owns 807,183 shares in the company, valued at $86,990,111.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Didier Hirsch sold 2,679 shares of the business’s stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $102.50, for a total value of $274,597.50. Following the sale, the director now owns 6,880 shares of the company’s stock, valued at approximately $705,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,015 shares of company stock valued at $9,166,970. 1.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Bartlett & Co. LLC bought a new stake in Logitech International during the fourth quarter worth $36,000. Bessemer Group Inc. bought a new stake in Logitech International during the fourth quarter worth $37,000. Rational Advisors LLC bought a new stake in Logitech International during the fourth quarter worth $51,000. Captrust Financial Advisors grew its holdings in Logitech International by 16,950.0% during the fourth quarter. Captrust Financial Advisors now owns 682 shares of the technology company’s stock worth $66,000 after buying an additional 678 shares in the last quarter. Finally, JJJ Advisors Inc. grew its holdings in Logitech International by 453.7% during the fourth quarter. JJJ Advisors Inc. now owns 908 shares of the technology company’s stock worth $88,000 after buying an additional 744 shares in the last quarter. Institutional investors and hedge funds own 33.66% of the company’s stock.

NASDAQ:LOGI traded up $2.77 during trading hours on Monday, hitting $108.60. The company’s stock had a trading volume of 11,225 shares, compared to its average volume of 941,772. The stock has a fifty day simple moving average of $104.68 and a 200-day simple moving average of $94.90. The company has a market capitalization of $18.13 billion, a P/E ratio of 26.93 and a beta of 0.88. Logitech International has a twelve month low of $44.01 and a twelve month high of $120.24.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that helps people connect to digital and cloud experiences. The company offers pointing devices, such as wireless mouse and trackball; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.

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Earnings History and Estimates for Logitech International (NASDAQ:LOGI)

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