Short Interest in Logitech International S.A. (NASDAQ:LOGI) Rises By 39.1%

Logitech International S.A. (NASDAQ:LOGI) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 8,236,040 shares, an increase of 39.1% from the December 15th total of 5,921,423 shares. Currently, 5.2% of the company’s shares are sold short. Based on an average trading volume of 734,586 shares, the days-to-cover ratio is presently 11.2 days. Based on an average trading volume of 734,586 shares, the days-to-cover ratio is presently 11.2 days. Currently, 5.2% of the company’s shares are sold short.

Logitech International Stock Performance

LOGI traded down $1.12 on Monday, reaching $95.48. The company’s stock had a trading volume of 1,579,179 shares, compared to its average volume of 811,669. Logitech International has a fifty-two week low of $64.73 and a fifty-two week high of $123.01. The stock has a 50 day moving average of $108.47 and a two-hundred day moving average of $105.82.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, October 28th. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.23. Logitech International had a net margin of 14.11% and a return on equity of 32.22%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts predict that Logitech International will post 4.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LOGI. BNP Paribas Exane cut Logitech International from an “outperform” rating to a “neutral” rating and set a $106.00 target price for the company. in a research note on Thursday, January 8th. JPMorgan Chase & Co. lifted their price objective on Logitech International from $104.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen lowered shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Logitech International in a report on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target on shares of Logitech International from $108.00 to $107.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Five equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.89.

Insider Buying and Selling

In other news, Director Neela Montgomery sold 5,833 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $120.61, for a total transaction of $703,518.13. Following the completion of the transaction, the director directly owned 12,781 shares in the company, valued at approximately $1,541,516.41. This represents a 31.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Logitech International

Several hedge funds have recently made changes to their positions in LOGI. Banque Pictet & Cie SA increased its position in shares of Logitech International by 10.2% during the fourth quarter. Banque Pictet & Cie SA now owns 12,330 shares of the technology company’s stock worth $1,269,000 after purchasing an additional 1,144 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in Logitech International by 8.7% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 260,162 shares of the technology company’s stock worth $26,777,000 after buying an additional 20,866 shares during the last quarter. J. Safra Sarasin Holding AG grew its stake in Logitech International by 1.3% during the 4th quarter. J. Safra Sarasin Holding AG now owns 542,396 shares of the technology company’s stock worth $55,826,000 after buying an additional 6,849 shares during the last quarter. NatWest Group plc increased its position in Logitech International by 173.8% during the fourth quarter. NatWest Group plc now owns 62,463 shares of the technology company’s stock worth $6,260,000 after buying an additional 39,650 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Logitech International by 1,784.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 689,908 shares of the technology company’s stock valued at $71,004,000 after buying an additional 653,296 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.