Short Interest in Logitech International SA (NASDAQ:LOGI) Grows By 14.6%

Logitech International SA (NASDAQ:LOGI) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 2,200,000 shares, an increase of 14.6% from the December 31st total of 1,920,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 147,200 shares, the days-to-cover ratio is presently 14.9 days.

Shares of NASDAQ LOGI traded up $0.05 during midday trading on Tuesday, reaching $46.85. 263,676 shares of the company traded hands, compared to its average volume of 227,832. The firm has a market cap of $7.82 billion, a PE ratio of 28.57 and a beta of 1.25. The stock’s 50-day simple moving average is $46.72 and its 200-day simple moving average is $42.37. Logitech International has a 12 month low of $34.79 and a 12 month high of $48.83.

In related news, Director Didier Hirsch sold 13,844 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $48.34, for a total value of $669,218.96. Following the completion of the transaction, the director now directly owns 23,953 shares of the company’s stock, valued at $1,157,888.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bracken Darrell sold 26,426 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $40.77, for a total value of $1,077,388.02. Following the completion of the transaction, the chief executive officer now directly owns 749,723 shares of the company’s stock, valued at $30,566,206.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,059 shares of company stock valued at $8,159,518. 1.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in shares of Logitech International by 27.8% in the third quarter. State Street Corp now owns 8,777 shares of the technology company’s stock valued at $358,000 after buying an additional 1,910 shares in the last quarter. Millennium Management LLC increased its position in Logitech International by 205.4% in the third quarter. Millennium Management LLC now owns 82,157 shares of the technology company’s stock worth $3,347,000 after purchasing an additional 55,257 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Logitech International by 1,259.8% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 150,925 shares of the technology company’s stock worth $6,149,000 after purchasing an additional 139,826 shares during the period. Bellecapital International Ltd. acquired a new stake in Logitech International in the third quarter worth about $1,087,000. Finally, Mackenzie Financial Corp increased its position in Logitech International by 105.4% in the second quarter. Mackenzie Financial Corp now owns 261,873 shares of the technology company’s stock worth $10,412,000 after purchasing an additional 134,354 shares during the period. 34.09% of the stock is owned by institutional investors.

A number of research analysts have issued reports on the company. DA Davidson reissued a “buy” rating and set a $64.00 price objective on shares of Logitech International in a report on Wednesday, January 22nd. Zacks Investment Research cut Logitech International from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a report on Monday, October 28th. UBS Group cut Logitech International from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Wednesday, December 18th. Wedbush reissued a “hold” rating and set a $48.00 price objective on shares of Logitech International in a report on Tuesday, January 21st. Finally, BidaskClub cut Logitech International from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $48.88.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.

See Also: Quantitative Easing

Receive News & Ratings for Logitech International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Logitech International and related companies with MarketBeat.com's FREE daily email newsletter.