LOGI Looks Logical
Seeking Alpha Analyst Since 2011
With a Credit Suisse downgrade in their rear-view mirror (an April Fool’s joke in bad taste, I might add), Logitech is suffering from fear-driven selling. It’s longer-term valuation hasn’t changed; margins have almost recovered after 2009 lows, and they’re still debt free. Looking at projected growth rates, LOGI is just shy of it’s industry (14.2% vs. 15.4%), but way ahead of its nearest product-line competitor, MSFT (10.3%). Where else can you find a 30-year-old company that dominates its industry in brand-recognition and quality and has agrowth rate more in line with the riskier, smaller-cap firms in its space?
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