Logitech International S.A. (LOGI) Draws Bullish Attention After Forming Bullish Descending Triangle

December 8, 2017 - By Migdalia James

Investors sentiment decreased to 1.33 in 2017 Q2. Its down 0.10, from 1.43 in 2017Q1. It fall, as 11 investors sold Logitech International S.A. shares while 34 reduced holdings. 22 funds opened positions while 38 raised stakes. 58.97 million shares or 4.67% more from 56.34 million shares in 2017Q1 were reported.
Tower Capital Limited Com (Trc) reported 0% of its portfolio in Logitech International S.A. (NASDAQ:LOGI). Goldman Sachs Group Incorporated, a New York-based fund reported 1.59 million shares. The Connecticut-based Northcoast Asset Mngmt Limited Liability Com has invested 0.16% in Logitech International S.A. (NASDAQ:LOGI). Sei Invests Co invested in 18 shares or 0% of the stock. Stifel Fincl invested in 0% or 32,826 shares. One Trading L P holds 0% or 12,194 shares. Art Advsr Llc holds 0.01% in Logitech International S.A. (NASDAQ:LOGI) or 7,394 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 2.32 million shares. 16 are held by Northwestern Mutual Wealth Mgmt. Barclays Public Ltd reported 1.44 million shares stake. Lmr Prtnrs Llp reported 35,908 shares stake. Bancorp Of America De accumulated 493,400 shares. Castleark Ltd Liability Company reported 186,737 shares. Raymond James And Associates accumulated 54,863 shares. Wells Fargo Mn holds 11,533 shares.

The stock of Logitech International S.A. (LOGI) formed a descending triangle with $34.24 target or 4.00 % above today’s $32.92 share price. The 7 months triangle pattern indicates low risk for the $5.52B company. If the $34.24 price target is reached, the company will be worth $220.72 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.21% or $0.07 during the last trading session, reaching $32.92. About 585,439 shares traded or 50.07% up from the average. Logitech International S.A. (NASDAQ:LOGI) has risen 143.25% since December 8, 2016 and is uptrending. It has outperformed by 126.55% the S&P500.

Analysts await Logitech International S.A. (NASDAQ:LOGI) to report earnings on January, 23. They expect $0.49 earnings per share, down 16.95 % or $0.10 from last year’s $0.59 per share. LOGI’s profit will be $82.13 million for 16.80 P/E if the $0.49 EPS becomes a reality. After $0.34 actual earnings per share reported by Logitech International S.A. for the previous quarter, Wall Street now forecasts 44.12 % EPS growth.

Logitech International S.A. (NASDAQ:LOGI) Ratings Coverage

Among 7 analysts covering Logitech Intl SA (NASDAQ:LOGI), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Logitech Intl SA had 7 analyst reports since August 19, 2015 according to SRatingsIntel. As per Tuesday, August 23, the company rating was downgraded by UBS. The firm has “Neutral” rating given on Thursday, October 27 by JP Morgan. The firm has “Neutral” rating by Sterne Agee CRT given on Tuesday, April 5. The stock of Logitech International S.A. (NASDAQ:LOGI) has “Equal-Weight” rating given on Wednesday, August 10 by Morgan Stanley. The rating was initiated by Rosenblatt on Wednesday, August 19 with “Buy”.

More important recent Logitech International S.A. (NASDAQ:LOGI) news were published by: Investorplace.com which released: “Logitech International SA (LOGI) to Boost Console Market Foothold With Astro …” on August 15, 2017, also Fool.com published article titled: “Why Is Logitech International SA (USA) Soaring Today?”, Investorplace.com published: “Logitech International SA (USA) (LOGI) Shares Plunge Despite Better-Than …” on July 25, 2017. More interesting news about Logitech International S.A. (NASDAQ:LOGI) was released by: Benzinga.com and their article: “Logitech Is Ready To Show It Is Bigger Than Just Computer Mouses” with publication date: March 06, 2017.

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