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Logitech International S.A. (LOGI)

  • Mon, Sep. 14, 9:38 AM
    • Logitech (NASDAQ:LOGI) raises annual dividend by 91% from CHF0.267/share to CHF0.51/share.
    • The dividend is payable on Sept. 22 to shareholders on record of Sept. 21, shares goes ex on Sept. 17.
    | Mon, Sep. 14, 9:38 AM | 1 Comment
  • Thu, Jul. 23, 9:38 AM
    • In spite of weak PC/tablet markets and a strong Swiss franc, Logitech (NASDAQ:LOGI) is maintaining FY16 (ends March '16) op. income guidance of $150M. Guidance for 7% constant currency retail sales growth is also reiterated; the revenue growth consensus (in actual dollars) is -2.3%.
    • Product line performance: Mobile speakers and video collaboration (videoconferencing) were once more strong points: Sales respectively rose 41% and 39% Y/Y to $40.5M and $21.2M. Tablet & other accessories were soft, falling 41% to $18.8M. Gaming -7% to $43.7M; pointing devices +3% to $117M; keyboards/combos roughly flat at $105.8M; PC/wearables audio -6% to $45.7M, PC webcams +6% to $21.7M; home control (remotes) -17% to $10.3M.
    • Financials: Gross margin (non-GAAP) fell 120 bps Y/Y to 36.7%. Operating expenses were nearly flat at $141.4M. Logitech ended FQ1 with $492.3M in cash (equal to roughly 1/5 of its market cap), and no debt.
    • FQ1 results, PR
    | Thu, Jul. 23, 9:38 AM | Comment!
  • Wed, Jul. 22, 10:54 PM
    • Logitech (NASDAQ:LOGI): Q1 EPS of $0.16 beats by $0.05.
    • Revenue of $470.32M (-2.5% Y/Y) beats by $2.47M.
    • Press Release
    | Wed, Jul. 22, 10:54 PM | Comment!
  • Tue, Jul. 21, 5:35 PM
  • Wed, Jul. 8, 1:28 PM
    • As part of a "brand reinvention" said to reflect its evolution from a PC peripherals maker to a more diversified consumer electronics accessory provider, Logitech (LOGI -2.9%) is changing its name and adopting a simpler logo.
    • CEO Bracken Darrell: "This is not just a one-year move, but a move for what we’re going to look like in the next decade ... We think having something called ‘tech’ is going to look 1980s pretty soon if it doesn't already." Logi-branded products will arrive soon. For the time being, the Logitech name will still be used for mice and some other PC peripherals.
    | Wed, Jul. 8, 1:28 PM | 3 Comments
  • Thu, Jun. 25, 5:38 PM
    • Logitech (NASDAQ:LOGI) co-founder Daniel Borel won't stand for re-election as a board member at the company's Sep. 9 annual meeting. Monika Ribar and Matthew Bousquette, who have respectively been directors since 2004 and 2005, will also be stepping down. (PR)
    • Logitech has nominated 3 replacements: Sue Gove, the former CEO of Golfsmith International; Lung Yeh, the managing director of VC firm Enspire Capital; and former VMware/Nuova Systems founder Edouard Bugnion.
    | Thu, Jun. 25, 5:38 PM | 2 Comments
  • Thu, May 14, 12:40 PM
    • Logitech (LOGI +2.5%) expects to take a $100M-$123M non-cash goodwill write-down on its $405M 2009 acquisition of videoconferencing hardware/software maker Lifesize.
    • The charge comes as Logitech restructures Lifesize to "sharpen its focus" on new cloud-based conferencing products. New hardware and services were launched in January. The launches helped video collaboration sales rising 140.3% Y/Y in calendar Q1 to $16.2M.
    | Thu, May 14, 12:40 PM | Comment!
  • Thu, Apr. 23, 2:11 PM
    • Logitech (NASDAQ:LOGI) is close to a 52-week high of $15.52 after beating FQ4 EPS estimates (while posting in-line revenue) in spite of the PC industry's woes. The peripherals giant has reiterated the FY16 (ends March '16) guidance it provided a month ago.
    • Forex had a 3% impact on Y/Y sales growth. Mobile speaker sales (fueled by the UE Boom speaker line) were once more a strong point, rising 98.2% to $38.4M. Also: Video collaboration sales (new products were launched in January) rose 140.3% to $16.2M, and tablet & other accessories (inc. tablet keyboards) rose 17.1% to $26M.
    • PC products were soft: Pointing devices -12.6% to $104.7M, keyboards & combos -2.5% to $100.9M; PC/wearables audio -14.2% to $51M, PC webcams -25.2% to $19.2M. Also, home control products (e.g. remotes) fell 11.8% to $11.8M.
    • Lifting EPS: Gross margin rose 50 bps Y/Y to 33.7%. Also, non-GAAP operating expenses only rose 2% Y/Y to $143.2M. Logitech ended Q1 with $537M in cash, and no debt.
    • Q1 results, PR, prepared remarks (.pdf), slides (.pdf)
    | Thu, Apr. 23, 2:11 PM | Comment!
  • Wed, Apr. 22, 11:49 PM
    • Logitech (NASDAQ:LOGI): FQ4 EPS of $0.10 beats by $0.02.
    • Revenue of $467.23M (-3.7% Y/Y) in-line.
    • Press Release
    | Wed, Apr. 22, 11:49 PM | Comment!
  • Tue, Apr. 21, 5:35 PM
  • Tue, Mar. 24, 3:18 PM
    • Today's notable tech gainers include chip packaging/testing firm ChipMOS (IMOS +3.7%), and headphone maker Skullcandy (SKUL +3.9%), mobile banking tech provider Mitek (MITK +6.5%), search toolbar/mobile ad platform provider Perion (PERI +8.8%), Chinese social network/game provider Renren (RENN +4.8%), peripherals giant Logitech (LOGI +4%), security IP licensing firm Finjan (FNJN +13.7%).
    • Notable decliners include e-commerce services firm ChannelAdvisor (ECOM -5.6%), program guide/content protection IP firm Rovi (ROVI -4.3%), telecom equipment vendor Calix (CALX -3.5%), and Fibre Channel/Ehternet switch vendor Brocade (BRCD -3.4%).
    • Likely helping Finjan: An H.C. Wainwright note stating the company has committed $5M to a Jerusalem Venture Partners (JVP) cybersecurity fund; Alibaba announced yesterday it's investing in JVP. Logitech announced a $100 wireless mouse today. Skullcandy is once more within striking distance of a 52-week high of $11.83.
    • Previously covered: Twitter, solar stocks, Sonus/AudioCodes/BroadSoft, Neonode, Arista, Taser, Ciena, Zagg, Gogo, Digital Ally
    | Tue, Mar. 24, 3:18 PM | 3 Comments
  • Thu, Mar. 12, 10:36 AM
    • JPMorgan has downgraded Logitech (LOGI -2.6%) to Underweight a day after the company provided light 2016 guidance (partly blamed on forex) at its 2015 analyst day. The firm's target has been cut by $2 to $13.
    • Shares are now down 7% over the last two days. They're $1.30 above a 52-week low of $11.20.
    | Thu, Mar. 12, 10:36 AM | Comment!
  • Wed, Mar. 11, 11:13 AM
    • Logitech (LOGI -2.4%) uses its 2015 analyst day to reiterate guidance for 2015 revenue of $2.11B (in-line with consensus) and op. income of $185M. The company has also guided for 2016 revenue of $2.15B (slightly below a $2.16B consensus) and op. income of $150M.
    • The PC/mobile/living room peripherals maker notes a strong dollar "will have a significant impact on our financial results moving forward," and that it's taking steps to deal with the issue, including "pricing adjustments and the further reduction of our global cost structure."
    • Logitech promises to return $500M to shareholders over the next 3 years - $250M via dividends, and $250M through an existing buyback program. The board plans to request shareholder approval for $85M worth of 2015 dividend payments at this year's annual meeting.
    • Logitech's analyst day slides
    | Wed, Mar. 11, 11:13 AM | Comment!
  • Fri, Mar. 6, 2:54 PM
    • With the Nasdaq down 1.1%, major tech decliners are outpacing major gainers by a sound margin.
    • Notable gainers include gaming headset maker Turtle Beach (HEAR +6.8%), Chinese data center owner 21Vianet (VNET +3.6%), wireless charging tech developer Energous (WATT +2.7%), Chinese online retailer LightInTheBox (LITB +5.6%), and solar microinverter maker Enphase (ENPH +5.9%).
    • Notable decliners include ultracapacitor maker Maxwell (MXWL -6.6%), healthcare IT giant Cerner (CERN -3.8%), enterprise storage hardware vendor Quantum (QTM -6%), cloud SMB marketing software vendor Constant Contact (CTCT -4.6%), 3D measurement/imaging system maker FARO Technologies (FARO -5.4%), PC/mobile peripherals giant Logitech (LOGI -4.6%), and cloud security/compliance software vendor Qualys (QLYS -4.2%).
    • Energous is up 12% over the last two trading days; its Q4 report arrives on Monday afternoon. Maxwell was up sharply yesterday on an insider buy.  Cerner closed yesterday near an all-time high of $73.24.
    • Previously covered: YY, Finisar/JDS Uniphase, Violin Memory, Crossroads, Skullcandy, Neustar, Synacor, CyberArk, Autohome/Bitauto, Wave Systems
    | Fri, Mar. 6, 2:54 PM | Comment!
  • Thu, Jan. 22, 12:44 PM
    • A strong dollar has led Logitech (NASDAQ:LOGI) to cut its FY15 (ends March '15) revenue guidance to $2.11B (below a $2.13B consensus) from $2.16B. However, op. income guidance has still been hiked by $15M to $185M.
    • Gross margin rose 240 bps Y/Y in seasonally huge FQ3 to 36.5%, aiding Logitech's EPS beat. GAAP opex rose a modest 3% to $166.6M.
    • Segment performance: PC gaming revenue +21% Y/Y to $70.2M. Tablets/other accessories -18% to $55.1M. Mobile speakers +86% to $62.3M (driven by UE Boom speaker sales). Pointing devices nearly flat at $141.8M. PC keyboards/desktops +5% to $114.1M. Audio (PC & wearables) -15% to $58.7M. Video +22% to $46.7M. Remotes -4% to $25.2M.
    • On a sell-through basis, Americas sales were up 11% in constant currency,, Asia-Pac sales up 7%, and EMEA sales down 2% (down 9% in dollars).
    • FQ3 results, PR, earnings slides (.pdf)
    | Thu, Jan. 22, 12:44 PM | Comment!
  • Thu, Jan. 22, 9:15 AM
    | Thu, Jan. 22, 9:15 AM | 1 Comment
LOGI vs. ETF Alternatives
Company Description
Logitech International SA together with its consolidated subsidiaries develops and markets hardware and software products that enables digital navigation, music and video entertainment, gaming and social networking.
Sector: Technology
Country: Switzerland