Logitech International (NASDAQ:LOGI) Declares Stock Repurchase Program

Logitech International (NASDAQ:LOGI) declared that its board has approved a share repurchase program on Wednesday, March 5th, RTT News reports. The company plans to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LOGI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered Logitech International from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $96.88.

Logitech International Stock Up 2.0 %

LOGI stock opened at $97.69 on Thursday. The business has a 50 day moving average price of $93.75 and a two-hundred day moving average price of $87.83. The company has a market cap of $15.45 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 2.61 and a beta of 0.78. Logitech International has a twelve month low of $74.72 and a twelve month high of $105.65.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that Logitech International will post 4.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now directly owns 7,348 shares of the company’s stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Logitech International Company Profile

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.