Could Logitech International S.A. (LOGI) Increase Even More? The Stock Formed Descending Triangle Pattern

December 8, 2017 - By Nellie Frank

Investors sentiment decreased to 1.33 in 2017 Q2. Its down 0.10, from 1.43 in 2017Q1. It worsened, 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.
Renaissance Techs Limited Company invested in 0.13% or 2.74 million shares. Sei Invs accumulated 18 shares or 0% of the stock. Ahl Prns Ltd Liability Partnership reported 0.08% in Logitech International S.A. (NASDAQ:LOGI). Canada Pension Plan Investment Board accumulated 371,558 shares or 0.03% of the stock. Northwestern Mutual Wealth Mgmt Company reported 16 shares. Hsbc Public Limited Co holds 0.02% or 300,334 shares. Private Advisor Ltd Llc has invested 0.02% in Logitech International S.A. (NASDAQ:LOGI). Moreover, Macquarie Gru Limited has 0.01% invested in Logitech International S.A. (NASDAQ:LOGI). Kimelman & Baird Ltd Liability Corp has 0.03% invested in Logitech International S.A. (NASDAQ:LOGI) for 6,000 shares. Moreover, Jackson Square Prns Ltd Limited Liability Company has 0.63% invested in Logitech International S.A. (NASDAQ:LOGI) for 3.34 million shares. France-based Credit Agricole S A has invested 0.2% in Logitech International S.A. (NASDAQ:LOGI). Meag Munich Ergo Kapitalanlagegesellschaft Mbh reported 372,699 shares or 0.59% of all its holdings. Raymond James And Assocs accumulated 54,863 shares or 0% of the stock. Blackrock accumulated 8,146 shares or 0% of the stock. Aperio Gp Ltd Llc stated it has 0.01% of its portfolio in Logitech International S.A. (NASDAQ:LOGI).

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 EPS, 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 EPS 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. The firm has “Buy” rating by Rosenblatt given on Wednesday, August 19. The rating was initiated by Sterne Agee CRT on Tuesday, April 5 with “Neutral”. The firm has “Neutral” rating given on Thursday, October 27 by JP Morgan. The stock of Logitech International S.A. (NASDAQ:LOGI) earned “Neutral” rating by UBS on Tuesday, August 23. The firm has “Equal-Weight” rating given on Wednesday, August 10 by Morgan Stanley.

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

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