The Zacks Analyst Blog Highlights: Logitech International, Apple, Yahoo!, Lam Research and AVG Technologies

Zacks


For Immediate Release

Chicago, IL – June 28, 2013 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Logitech International (LOGI-Free Report), Apple (AAPL-Free Report), Yahoo! Inc. (YHOO-Free Report), Lam Research Corporation (LRCX-Free Report) and AVG Technologies N.V. (AVG-Free Report).

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Thursday’s Analyst Blog:

Logitech Upgraded to Outperform

We recently upgraded Logitech International (LOGI-Free Report) -- which designs, manufactures and markets innovative peripherals for the digital world -- from Neutral to Outperform based on its improved prospects. Also, the company became Zacks Rank #1 stock on June 25, 2013, followed by improved performance factors.

Why the Upgrade?

The growing adoption of new mobile platforms, such as tablets and smartphones in both mature and emerging markets, is paving the way for increased demand of Logitech’s peripherals and accessories. In order to capitalize on this burgeoning business proposition, the company launched a slew of innovative products. This includes a new Apple (AAPL-Free Report) keyboard that has a strong growth momentum.

Also, with its universal remote app for iPhone and Android, Logitech will no longer sell this business as it had been planning earlier, since it expects better near-term trends. Logitech intends to tap the high potential market for accessories by further expanding its product lines. In the last reported quarter, tablet accessories was the best-performing retail product category with sales increasing a robust 119.2% year over year.

The company also intends to divest its non-strategic assets. This will make the business more focused towards core product line. Logitech is in the process of exiting roughly one-third of its product categories, including Remotes and Video Security, which it expects to completely divest by the end of fiscal 2014. As it focuses on resources away from PC peripherals towards the growing mobility categories of tablets accessories, it is expected that the company will return to its year-over-year growth in revenue by the end of 2015.

The company announced to initiate a recurring regular dividend, to be issued and paid on an annual basis. This proves that the company is now reaping the benefits of healthy performances. Also, positive trends are expected both in the short-term and over the longer term as well.

With the current revised cost structure and new product line, the company expects to experience growth in the coming years. In fiscal 2015, the company estimates sales of $2.1 billion, an operating income of $90 million and gross margin of 34.5%. In fiscal 2016, performance is expected to be even better with sales of $2.25 billion, an operating income of $150 million and gross margin of approximately 35%.

Other Stocks to Consider

Logitech has a Zacks Rank #1(Strong Buy). Other notable companies like, Yahoo! Inc. (YHOO-Free Report), Lam Research Corporation (LRCX-Free Report) and AVG Technologies N.V. (AVG-Free Report) operating in the same sector also have Zacks Rank #1(Strong Buy) each.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

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