Logitech International's (LOGI) Q3 results showcased its core strengths and profitable growth and it remains focused on core business strategies, such as expanding business-to-business transactions, boosting China market share, and leading in personal workspace solutions, Wedbush said in a research report Wednesday.
Despite the attention on depressed personal computer shipments in 2026 and possibly beyond, Logitech chief executive officer Hanneke Faber shifted the focus to the company's much larger opportunity to grow attach rates on the existing base of around 1.5 billion to 2 billion PCs, the report said.
The company's "impressive" product updates, efficient inventory management, and a reinvigorated Chinese market keeps the investment firm optimistic, according to the note.
Logitech now has $12 per share in cash and no debt, which means it can accelerate growth through small tuck-in mergers and acquisitions, carry out share repurchases, and grow its dividend, Wedbush added.
The investment firm maintained an outperform rating on the stock with a $135 price target.
Shares of Logitech were down more than 8% in recent trading Wednesday.
Price: 86.29, Change: -7.45, Percent Change: -7.95
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