59.31 0.00 (0.00%)
After hours: 4:43PM EDT
|Bid||59.28 x 2200|
|Ask||59.34 x 1200|
|Day's Range||58.91 - 59.72|
|52 Week Range||31.37 - 59.90|
|Beta (5Y Monthly)||0.82|
|PE Ratio (TTM)||22.30|
|Forward Dividend & Yield||0.74 (1.25%)|
|Ex-Dividend Date||Sep 18, 2019|
|1y Target Est||52.60|
Logitech (LOGI) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
Shares in Logitech International (LOGI) rose 3.5% in pre-market trading after the company announced a new, three-year share buyback program for up to $250 million of its common stock. The company’s board of directors also approved a proposal raise its fiscal 2020 dividend payout by 10%.The stock advanced 3.5% to $56.75 in Thursday’s pre-market trading in the U.S.The new buyback program, which is still subject to the approval of the company’s Swiss Takeover Board, replaces its prior buyback program that expired in April.Logitech is among the tech companies doing well during the coronavirus pandemic as the need for its computer products rose. It reported a 14% sales increase in the first three months of the year fueled by the accelerating demand for cloud-based video collaboration, as more workers set up home offices, teachers adopted video for distance learning, and doctors implemented telemedicine.Logitech’s board of directors also announced that Prakash Arunkundrum, head of global operations, will join as a new member of Logitech’s Group Management Team and will be an Executive Officer.Shares in Logitech have been on a steep gaining streak since mid-March, skyrocketing 62% to $54.85 as of Wednesday’s close.The stock rally prompted J.P. Morgan analyst Paul J Chung last week to cut Logitech’s rating to Hold from Buy, while maintaining a $57 price target. Chung said that valuation and the stock hitting the price target as well as sitting at all-time highs backed up his downgrade.However, the analyst still sees Logitech continuing to benefit from the work-from-home demand momentum well into fiscal 2021.The rest of Wall Street analysts are cautiously optimistic on the stock’s outlook. The Moderate Buy consensus brings together 3 Buy and 4 Hold ratings. The $58.73 average price target implies 7.1% upside potential in the shares in the next 12 months. (See Logitech stock analysis on TipRanks).Related News: Apple Snaps Up AI Startup Inductiv, As Analysts Boost PTs On Store Reopenings KKR Invests $1.5 Billion in Reliance’s Jio Platforms In Biggest Deal In Asia Microsoft Buys Metaswitch For Cloud-Based Telecoms Move, 5G Expansion More recent articles from Smarter Analyst: * Coty Names Chairman Peter Harf As CEO To Steer Strategic Turnaround; Shares Pop 18% * Abiomed’s Heart Pump Gets FDA Emergency Use Status For Covid-19 Patients * Eli Lilly’s Taltz Injection Gets FDA Nod For Inflammatory Spine Arthritis Treatment * Zynga Snaps Up Peak For $1.8B In Its Largest Deal To Date; Shares Up 7%
Building on the success of previous Logitech G Challenge eRacing competitions, Logitech G, a brand of Logitech, (SIX: LOGN) (NASDAQ: LOGI) and leading innovator of gaming technologies and gear, alongside McLaren, the racing and technology brand and creator of luxury, high performance sports cars and supercars, today announced the 3rd Annual Logitech McLaren G Challenge 2020.
Logitech International (SIX: LOGN) (Nasdaq: LOGI) announced a number of items, approved by its board of directors, including a new share buyback.
Logitech G, a brand of Logitech (SIX: LOGN) (NASDAQ: LOGI) and leading innovator of gaming technologies and gear, announced today the Logitech G915 TKL Tenkeyless LIGHTSPEED Wireless RGB Mechanical Gaming Keyboard, offering the same core technologies and experience of the award-winning G915, in a smaller tenkeyless form factor.
Logitech International S.A. (LOGI) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
Logitech International saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 91 to 96.
For his second "Executive Decision" segment of Mad Money Tuesday evening, Jim Cramer spoke with Bracken Darrell, president and CEO of Logitech International S.A. , a stock that's up sharply as consumers outfit their home offices with new computer peripherals. Darrell said that Logitech has been on the cutting edge of four high-growth categories including video conferencing, gaming, creativity and remote work -- all of which have been accelerating since the pandemic began. When asked about remote work, Darrell said everyone can benefit from upgrading their webcam to include better audio, video and ergonomics.
The stay-at-home culture is here to stay for a longer time than expected. Demand of computer hardware and network software will only grow, helping these four stocks to gain.
Logitech International S.A. shares climbed 4% in trading Tuesday after the peripherals maker reported fiscal fourth-quarter revenue and net income that outperformed Wall Street estimates. Logitech reported net income of $213.9 million, or $1.26 a share, compared with net income of $42.1 million, or 25 cents a share, in the year-ago quarter. Revenue rose 14% to $709.2 million from $624.3 million a year ago. "We benefited from strong secular trends that got even stronger during the crisis -- video everywhere, gaming, the ability for creators to take advantage of streaming," Logitech Chief Executive Bracken Darrell told MarketWatch in a phone interview after the results were announced. "Blue microphones grew significantly." Analysts surveyed by FactSet had expected net income of 35 cents a share on sales of $638 million. Logitech shares are up 41% in the last year. The broader S&P 500 index is up 3.4% in the last year.
Logitech, a maker of peripherals for personal computers and other devices, beat analyst targets for the March quarter thanks to the work-from-home boom spurred by the coronavirus pandemic.
Logitech International (NASDAQ: LOGI) shares were trading higher Tuesday after the company reported positive fourth-quarter results after the close Monday that were "accelerated" by the stay-at-home shift during the coronavirus pandemic. The company reported fourth-quarter GAAP earnings of $2.66 cents per share, a 75% increase over earnings of $1.52 cents per share in the same period last year.Logitech said its full-year sales were the highest ever at $2.98 billion, up 7%, and yearly GAAP operating income grew 5% to $276 million, compared to $263 million in 2019. The company said cash flow from operations in fiscal 2020 was a record $425 million, compared to $305 million a year ago.Logitech Reaffirms 2021 Guidance Logitech confirmed a fiscal year 2021 outlook for mid single-digit sales growth in constant currency and $380-$400 million in non-GAAP operating income. View more earnings on LOGI"Video conferencing, working remotely, creating and streaming content, and gaming are long-term secular trends driving our business. The pandemic hasn't changed these trends: it has accelerated them," CEO Bracken Darrell said in a statement. Logitech shares were trading up 4.15% at $53.22 in Tuesday's premarket session. The stock has a 52-week high of $51.63 and a 52-week low of $31.37.Related Links:Zoom Video Falls Despite Q4 Earnings Beat, Strong GuidanceElon Musk's SpaceX Bans Employee Use Of Zoom: ReportSee more from Benzinga * Tesla Restarts Production, Musk Tweets 'If Anyone Is Arrested, I Ask That It Only Be Me' * Why AbbVie's Stock Is Trading Higher Today * Why Salesforce's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares in Logitech International (LOGI) surged 5.8% after the tech company reported a 14% increase in quarterly sales as stay-at-home orders tied to the coronavirus pandemic boosted demand for its computer products.The stock appreciated 5.8% to $54.07 in pre-market U.S. trading.Total sales grew 14% to $709 million in the quarter ended March, driven by double-digit growth of its video collaboration, gaming, and creativity & productivity products. Net operating income advanced 23% to $79 million during the same comparative period. For the full 2020 fiscal year, net income increased 10% to $387 million year-on-year, exceeding the company’s latest outlook of $365 million to $375 million.“Logitech’s products have never been more relevant,” said Logitech President and CEO Bracken Darrell. “Video conferencing, working remotely, creating and streaming content, and gaming are long-term secular trends driving our business. The pandemic hasn’t changed these trends: it has accelerated them.”Logitech said that the demand for cloud-based video collaboration accelerated through the quarter, as more workers set up home offices, teachers adopted video for distance learning, and doctors implemented telemedicine.“We believe this trend toward video everywhere will continue to be embraced across all room types, including home offices, and we will continue to invest in both our go-to-market capabilities and our product portfolio,” the company said.Looking ahead, the company maintained its fiscal year 2021 outlook for mid single-digit sales growth in constant currency and for an increase in operating profit of $380 million-$400 million.As of the end of March 2020, Logitech had cash and cash equivalents of $716 million, its highest cash balance ever, it said.Shares in Logitech have been on a gaining streak in the past two months, surging 51% to $51.10 as of Monday in U.S. trading.Michael Pachter, analyst at Wedbush raised the stock’s price target to $57 from $48, while sticking to a Buy rating.“Global quarantines have driven accelerated growth in various categories, with the long - term benefit of expanding Logitech’s recurring user base,” said Pachter. “Logitech’s consistent earnings growth with investor -friendly capital allocation should support shares of LOGI near the high-end of its historical range, given the boost from quarantines and as the overhang from supply chain disruption dissipates in FQ1:21.”The rest of Wall Street analysts are divided on the stock with 3 Buys, 2 Holds and 1 Sell, that add up to a Moderate Buy consensus rating. The $46.99 average price target is less optimistic than Wedbush, as it implies 8% downside potential in the shares in the next 12 months. (See Logitech stock analysis on TipRanks).Related News: Microsoft to Splash $1.5 Billion on Italy’s Cloud Business Transformation Twitter Ramps Up Fight Against Misleading Covid-19 Information ON Semiconductor Quarterly Earnings Miss Amid Virus Pandemic, Sees Orders Coming Back More recent articles from Smarter Analyst: * Clorox Bumps Up Dividend By 5%; Shares Rise In Pre-Market * Urban Outfitters Reports Slow Quarter, Predicts More Dramatic Sales Decline in Upcoming Quarter * Facebook Canada Faces C$9 Million Fine Over ‘False’ Privacy Claims * Revance Acquires HintMD In All-Stock Deal, Analyst Praises Bold Step Forward
Demand for video collaboration products boomed during the three months to the end of March as schools and offices shut down to prevent the spread of the virus, with locked-down staff relying on video conferencing equipment, software and webcams. Families also connected via video conferencing as lockdown restrictions prevented them from seeing loved ones during the pandemic. "As people shelter and self-isolate from each other physically, you need some way to get an emotional connection, and video is the way to do that," Chief Executive Bracken Darrell told Reuters.
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full year of Fiscal Year 2020, ended March 31, 2020.
Zacks.com featured highlights include: Logitech International, MACOM Technology Solutions, Murphy USA, Vertex Pharmaceuticals and The Clorox Company
As required by Swiss regulation, Logitech International (SIX:LOGN) (Nasdaq:LOGI) today announced that, as of April 30, 2020, the Company’s three-year share buyback program, initiated in May 2017, expired. During the three years of the 2017 share buyback program, the Company repurchased 2,902,071 of its shares. Details of Logitech's share repurchase history can be found on the Company's website at http://ir.logitech.com.