Logitech International S.A.NASDAQ
If You'll Short On Valuation, Short Logitech
Can Logitech Really Grow?
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Thu, Sep. 15, 7:01 PM
- Logitech (LOGI +0.8%) has acquired the Saitek line of flight and space simulation controllers from Mad Catz (MCZ -4%).
- Logitech paid $13M in cash. It'll add the controller line to its Logitech G gaming portfolio, including its racing-game steering wheels.
- “We’re pleased with this tuck-in acquisition of the Saitek product portfolio," says Logitech's Ujesh Desai.
- After hours: LOGI -1%; MCZ +28.8%.
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Wed, Apr. 27, 11:37 PM
- Logitech (NASDAQ:LOGI): FQ4 EPS of $0.14 beats by $0.04.
- Revenue of $430.84M (-2.6% Y/Y) misses by $2.46M.
Tue, Apr. 26, 5:35 PM
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Tue, Apr. 12, 5:55 PM
- Logitech (NASDAQ:LOGI) is buying Jaybird, a Utah-based provider of Bluetooth headphones and fitness bands meant for "sports and active lifestyles," for $50M in cash up-front plus up to $45M worth of earn-out payments over the next two years.
- The deal is expected to close in the coming weeks, and isn't expected to materially affect Logitech's FY17 (ends March '17) guidance. Jaybird's products will be added to a Logitech product line that includes the company's Ultimate Ears (UE) Bluetooth headphones and speakers.
- Logitech CEO Bracken Darrell: "As one team, we can address the fast-growing wireless audio wearables market with all the advantages of Jaybird’s strong brand and sports expertise, and our combined audio engineering and design capabilities." Jaybird CEO Judd Armstrong: "Jaybird will benefit from Logitech’s global distribution network and deep engineering prowess."
Tue, Feb. 2, 9:37 AM
- Morgan Stanley has downgraded Logitech (NASDAQ:LOGI) to Underweight. The call comes less than two weeks after the peripherals/accessories maker jumped in the wake of mixed FQ3 results and an FY16 guidance hike.
- Separately, CEO Bracken Darrell states in an interview Logitech is looking to enter the virtual reality peripherals market - Logitech plans to make controllers that work with VR headsets much the same way mice/keyboards work with PCs.
- The comments come with Facebook set to begin shipping its first commercial Oculus Rift model in March; its Oculus Touch handheld motion controllers are due later this year. Meanwhile, the FT recently reported Apple has created a large VR/AR team and built headset prototypes.
Wed, Jan. 20, 9:39 PM
- Logitech (NASDAQ:LOGI): FQ3 EPS of $0.41 beats by $0.07.
- Revenue of $621.08M (+2.8% Y/Y) misses by $13.48M.
- The company raises non-gaap operating income guidance to approx. $170M, retail sales to grow 7%-9% in constant currency for FY16.
Tue, Jan. 19, 5:35 PM
Oct. 22, 2015, 3:20 PM
- With an FQ2 beat in tow, Logitech (NASDAQ:LOGI) is reiterating FY16 (ends March '16) guidance for 7% constant currency retail sales growth and $150M in op. income in spite of weak PC and tablet markets.
- Mobile speaker sales were again a strong point in FQ2, rising 66% Y/Y to $80.6M. Gaming (+42% to $67.6M) and videoconferencing (+45% to $20.1M) were also standouts. PC/wearable audio was weak (-19% to $46.3M), as was tablets & other accessories (-34% to $18.5M) and home control (remotes, -33% to $12.6M).
- Gross margin fell 420 bps Y/Y to 34.6%. However, job cuts led operating expenses drop 1% to $145.2M. $40M was spent on buybacks.
- FQ2 results, PR
Oct. 21, 2015, 10:58 PM
- Logitech (NASDAQ:LOGI): FQ2 EPS of $0.22 beats by $0.03.
- Revenue of $539.86M (+1.8% Y/Y) beats by $17.28M.
Oct. 20, 2015, 5:35 PM| Oct. 20, 2015, 5:35 PM | 7 Comments