Logitech International SA (USA) (LOGI) was Upgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Underweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Aug 10, 2016.
On the company’s financial health, Logitech International SA (USA) reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.13. The company had revenue of $479.86 million for the quarter, compared to analysts expectations of $436.36 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 EPS.
Logitech International SA (USA) opened for trading at $20.68 and hit $20.88 on the upside on Monday, eventually ending the session at $20.85, with a gain of 1.96% or 0.4 points. The heightened volatility saw the trading volume jump to 7,48,653 shares. Company has a market cap of $3,372 M.
In a different news, on Aug 9, 2016, Marcel Stolk (SVP, CCP Business Group) sold 225,000 shares at $20.36 per share price. According to the SEC, on Jul 29, 2016, Vincent Pilette (Chief Financial Officer) sold 100,000 shares at $19.93 per share price. On Aug 18, 2015, Bracken Darrell (CEO) purchased 3,700 shares at $13.40 per share price, according to the Form-4 filing with the securities and exchange commission.
Logitech International SA (Logitech) is a Switzerland-based company that together with its subsidiaries develops and markets hardware and software products that enable or enhance digital navigation music and video entertainment gaming social networking and audio and video communication over the Internet. Logitech has two operating segments: peripherals and video conferencing. The peripherals segment encompasses the design manufacturing and marketing of peripherals for personal computers (PCs) tablets and other digital platforms. The video conferencing segment systems with integrated monitors video bridges and other infrastructure software and hardware to support video deployments as well as provides services to support these products. Logitech sells its peripheral products to a network of distributors retailers and original equipment manufacturers (OEMs) and sells its video conferencing products and services to distributors resellers and OEMs among others.