For all the optimism and good news in Logitech's (NASDAQ:LOGI) fiscal third quarter report and on the company's post-earnings conference call, in my opinion, the quarter actually supported my caution towards the stock a month ago. To be sure, it was an excellent quarter: sales were up in both the growth and legacy PC-related categories (the latter truly an impressive feat), and the company raised its guidance for full-year non-GAAP operating income.
But despite solid execution and good results, a review of the quarter still leads to the same question: how is LOGI supposed to break through the ~$15.50 level at which it traded last month, and trades again at Thursday's close of $15.51? The company and
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|