On August 6, Logitech International SA fell 5.39% in after-hours trading, trading at $104.5/share, with turnover of $1.97 million. The decline reflects ongoing market concerns over supply chain disruption and a wave of analyst target price cuts.
On the news front, a semiconductor component supplier experienced a serious incident at a manufacturing facility, resulting in a temporary closure that affects Logitech's gaming and personal workspace products. Tight semiconductor supply may make sourcing alternative components difficult, with the disruption expected to erode near-term market share. Multiple institutions recently cut their price targets: Berenberg trimmed to $141 from $148, JPMorgan lowered to $120 from $123, and Wedbush reduced to $130 from $135, while all maintained positive ratings.
Additionally, Logitech's fiscal Q2 revenue guidance of $1.19 billion to $1.22 billion fell short of the $1.23 billion consensus estimate, amplifying concerns despite a strong fiscal Q1 in which adjusted EPS of $1.85 beat estimates of $1.22 by over 50% and revenue grew 7% year-over-year to $1.23 billion. The combination of supply uncertainty and below-consensus forward guidance continues to pressure valuation.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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