Intrinsic value of Logitech International - LOGI

Previous Close

$46.47

  Intrinsic Value

$43.31

stock screener

  Rating & Target

hold

-7%

Previous close

$46.47

 
Intrinsic value

$43.31

 
Up/down potential

-7%

 
Rating

hold

We calculate the intrinsic value of LOGI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.10
  9.59
  9.13
  8.72
  8.35
  8.01
  7.71
  7.44
  7.20
  6.98
  6.78
  6.60
  6.44
  6.30
  6.17
  6.05
  5.95
  5.85
  5.77
  5.69
  5.62
  5.56
  5.50
  5.45
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
Revenue, $m
  2,445
  2,680
  2,925
  3,179
  3,445
  3,721
  4,008
  4,306
  4,616
  4,938
  5,272
  5,620
  5,982
  6,359
  6,751
  7,160
  7,585
  8,029
  8,492
  8,975
  9,479
  10,006
  10,557
  11,132
  11,734
  12,364
  13,023
  13,713
  14,435
  15,191
Variable operating expenses, $m
  1,542
  1,688
  1,839
  1,997
  2,161
  2,332
  2,509
  2,693
  2,885
  3,084
  3,262
  3,477
  3,701
  3,934
  4,176
  4,429
  4,692
  4,967
  5,253
  5,552
  5,864
  6,190
  6,531
  6,887
  7,259
  7,649
  8,056
  8,483
  8,930
  9,398
Fixed operating expenses, $m
  640
  654
  668
  683
  698
  713
  729
  745
  761
  778
  795
  813
  831
  849
  868
  887
  906
  926
  947
  967
  989
  1,010
  1,033
  1,055
  1,079
  1,102
  1,127
  1,151
  1,177
  1,203
Total operating expenses, $m
  2,182
  2,342
  2,507
  2,680
  2,859
  3,045
  3,238
  3,438
  3,646
  3,862
  4,057
  4,290
  4,532
  4,783
  5,044
  5,316
  5,598
  5,893
  6,200
  6,519
  6,853
  7,200
  7,564
  7,942
  8,338
  8,751
  9,183
  9,634
  10,107
  10,601
Operating income, $m
  263
  338
  417
  500
  586
  676
  770
  867
  969
  1,075
  1,215
  1,331
  1,451
  1,576
  1,707
  1,844
  1,987
  2,136
  2,292
  2,455
  2,627
  2,806
  2,993
  3,190
  3,397
  3,613
  3,840
  4,078
  4,328
  4,591
EBITDA, $m
  331
  410
  493
  579
  670
  764
  862
  964
  1,071
  1,182
  1,298
  1,418
  1,544
  1,675
  1,812
  1,955
  2,105
  2,261
  2,425
  2,595
  2,774
  2,962
  3,158
  3,364
  3,580
  3,806
  4,043
  4,292
  4,554
  4,828
Interest expense (income), $m
  0
  0
  4
  7
  11
  15
  19
  23
  28
  33
  37
  43
  48
  53
  59
  65
  71
  77
  84
  91
  98
  106
  114
  122
  130
  139
  149
  159
  169
  180
  191
Earnings before tax, $m
  263
  335
  410
  489
  571
  657
  746
  839
  937
  1,038
  1,173
  1,283
  1,398
  1,517
  1,642
  1,773
  1,909
  2,052
  2,201
  2,357
  2,521
  2,692
  2,872
  3,060
  3,257
  3,464
  3,681
  3,909
  4,149
  4,400
Tax expense, $m
  71
  90
  111
  132
  154
  177
  201
  227
  253
  280
  317
  346
  377
  410
  443
  479
  516
  554
  594
  636
  681
  727
  775
  826
  879
  935
  994
  1,056
  1,120
  1,188
Net income, $m
  192
  245
  299
  357
  417
  479
  545
  613
  684
  758
  856
  937
  1,020
  1,108
  1,199
  1,294
  1,394
  1,498
  1,607
  1,721
  1,840
  1,965
  2,096
  2,234
  2,378
  2,529
  2,687
  2,854
  3,029
  3,212

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,606
  1,760
  1,920
  2,088
  2,262
  2,443
  2,631
  2,827
  3,031
  3,242
  3,462
  3,690
  3,928
  4,175
  4,433
  4,701
  4,980
  5,272
  5,576
  5,893
  6,224
  6,570
  6,932
  7,310
  7,705
  8,118
  8,551
  9,004
  9,478
  9,975
Adjusted assets (=assets-cash), $m
  1,606
  1,760
  1,920
  2,088
  2,262
  2,443
  2,631
  2,827
  3,031
  3,242
  3,462
  3,690
  3,928
  4,175
  4,433
  4,701
  4,980
  5,272
  5,576
  5,893
  6,224
  6,570
  6,932
  7,310
  7,705
  8,118
  8,551
  9,004
  9,478
  9,975
Revenue / Adjusted assets
  1.522
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
  1.523
Average production assets, $m
  381
  418
  456
  496
  537
  580
  625
  672
  720
  770
  822
  877
  933
  992
  1,053
  1,117
  1,183
  1,253
  1,325
  1,400
  1,479
  1,561
  1,647
  1,737
  1,831
  1,929
  2,032
  2,139
  2,252
  2,370
Working capital, $m
  -24
  -27
  -29
  -32
  -34
  -37
  -40
  -43
  -46
  -49
  -53
  -56
  -60
  -64
  -68
  -72
  -76
  -80
  -85
  -90
  -95
  -100
  -106
  -111
  -117
  -124
  -130
  -137
  -144
  -152
Total debt, $m
  65
  133
  204
  278
  355
  435
  518
  604
  694
  787
  884
  985
  1,090
  1,199
  1,312
  1,430
  1,554
  1,682
  1,816
  1,956
  2,102
  2,255
  2,414
  2,581
  2,755
  2,937
  3,128
  3,328
  3,537
  3,756
Total liabilities, $m
  708
  776
  847
  921
  997
  1,077
  1,160
  1,247
  1,337
  1,430
  1,527
  1,627
  1,732
  1,841
  1,955
  2,073
  2,196
  2,325
  2,459
  2,599
  2,745
  2,897
  3,057
  3,223
  3,398
  3,580
  3,771
  3,971
  4,180
  4,399
Total equity, $m
  898
  984
  1,073
  1,167
  1,264
  1,366
  1,471
  1,580
  1,694
  1,812
  1,935
  2,063
  2,196
  2,334
  2,478
  2,628
  2,784
  2,947
  3,117
  3,294
  3,479
  3,673
  3,875
  4,086
  4,307
  4,538
  4,780
  5,033
  5,298
  5,576
Total liabilities and equity, $m
  1,606
  1,760
  1,920
  2,088
  2,261
  2,443
  2,631
  2,827
  3,031
  3,242
  3,462
  3,690
  3,928
  4,175
  4,433
  4,701
  4,980
  5,272
  5,576
  5,893
  6,224
  6,570
  6,932
  7,309
  7,705
  8,118
  8,551
  9,004
  9,478
  9,975
Debt-to-equity ratio
  0.070
  0.140
  0.190
  0.240
  0.280
  0.320
  0.350
  0.380
  0.410
  0.430
  0.460
  0.480
  0.500
  0.510
  0.530
  0.540
  0.560
  0.570
  0.580
  0.590
  0.600
  0.610
  0.620
  0.630
  0.640
  0.650
  0.650
  0.660
  0.670
  0.670
Adjusted equity ratio
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  192
  245
  299
  357
  417
  479
  545
  613
  684
  758
  856
  937
  1,020
  1,108
  1,199
  1,294
  1,394
  1,498
  1,607
  1,721
  1,840
  1,965
  2,096
  2,234
  2,378
  2,529
  2,687
  2,854
  3,029
  3,212
Depreciation, amort., depletion, $m
  68
  72
  75
  79
  83
  88
  92
  97
  102
  107
  82
  88
  93
  99
  105
  112
  118
  125
  132
  140
  148
  156
  165
  174
  183
  193
  203
  214
  225
  237
Funds from operations, $m
  260
  316
  375
  436
  500
  567
  637
  710
  785
  864
  938
  1,024
  1,114
  1,207
  1,304
  1,406
  1,512
  1,623
  1,739
  1,861
  1,988
  2,121
  2,261
  2,407
  2,561
  2,722
  2,891
  3,068
  3,254
  3,449
Change in working capital, $m
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
Cash from operations, $m
  262
  318
  377
  439
  503
  570
  640
  713
  788
  867
  942
  1,028
  1,117
  1,211
  1,308
  1,410
  1,516
  1,628
  1,744
  1,866
  1,993
  2,127
  2,267
  2,413
  2,567
  2,728
  2,897
  3,075
  3,261
  3,457
Maintenance CAPEX, $m
  -35
  -38
  -42
  -46
  -50
  -54
  -58
  -63
  -67
  -72
  -77
  -82
  -88
  -93
  -99
  -105
  -112
  -118
  -125
  -132
  -140
  -148
  -156
  -165
  -174
  -183
  -193
  -203
  -214
  -225
New CAPEX, $m
  -35
  -37
  -38
  -40
  -41
  -43
  -45
  -47
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -64
  -66
  -69
  -72
  -75
  -79
  -82
  -86
  -90
  -94
  -98
  -103
  -108
  -113
  -118
Cash from investing activities, $m
  -70
  -75
  -80
  -86
  -91
  -97
  -103
  -110
  -115
  -122
  -129
  -136
  -144
  -152
  -160
  -169
  -178
  -187
  -197
  -207
  -219
  -230
  -242
  -255
  -268
  -281
  -296
  -311
  -327
  -343
Free cash flow, $m
  193
  244
  297
  353
  412
  473
  537
  604
  673
  745
  813
  891
  973
  1,059
  1,148
  1,241
  1,338
  1,440
  1,547
  1,658
  1,774
  1,897
  2,025
  2,159
  2,299
  2,447
  2,602
  2,764
  2,934
  3,113
Issuance/(repayment) of debt, $m
  65
  68
  71
  74
  77
  80
  83
  86
  90
  93
  97
  101
  105
  109
  114
  118
  123
  128
  134
  140
  146
  153
  159
  167
  174
  182
  191
  200
  209
  219
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  65
  68
  71
  74
  77
  80
  83
  86
  90
  93
  97
  101
  105
  109
  114
  118
  123
  128
  134
  140
  146
  153
  159
  167
  174
  182
  191
  200
  209
  219
Total cash flow (excl. dividends), $m
  259
  312
  368
  427
  489
  553
  620
  690
  763
  838
  910
  992
  1,078
  1,168
  1,261
  1,359
  1,462
  1,569
  1,681
  1,798
  1,921
  2,049
  2,184
  2,325
  2,474
  2,629
  2,792
  2,964
  3,144
  3,332
Retained Cash Flow (-), $m
  -82
  -86
  -90
  -94
  -97
  -101
  -105
  -109
  -114
  -118
  -123
  -128
  -133
  -138
  -144
  -150
  -156
  -163
  -170
  -177
  -185
  -193
  -202
  -211
  -221
  -231
  -242
  -253
  -265
  -278
Prev. year cash balance distribution, $m
  40
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  27
  29
  32
  35
  38
  41
  45
  48
  52
  55
  59
  63
  67
  72
  76
  81
  86
  91
  96
  102
  108
  114
  120
  127
  134
  141
  148
  156
  165
  173
Cash available for distribution, $m
  217
  225
  278
  334
  391
  452
  515
  581
  649
  720
  787
  864
  945
  1,029
  1,117
  1,209
  1,305
  1,406
  1,511
  1,620
  1,735
  1,856
  1,982
  2,114
  2,253
  2,398
  2,550
  2,710
  2,878
  3,055
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  208
  206
  242
  275
  303
  328
  348
  363
  373
  378
  374
  369
  359
  346
  328
  307
  284
  259
  233
  206
  179
  154
  130
  108
  88
  70
  55
  42
  31
  23
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Logitech International S.A. is a holding company. The Company designs, manufactures and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms. The Company operates through peripheral segment. The Company offers its products to a network of domestic and international customers, including direct sales to retailers, e-tailers, and indirect sales through distributors. The Company's retail network across the world includes consumer electronics distributors, retailers, mass merchandisers, specialty electronics stores, computer and telecommunications stores, value-added resellers and online merchants. Its music solutions are focused primarily on mobile speakers, including its UE BOOM family of mobile wireless speakers, its Jaybird wireless audio wearables for sports and active lifestyles, and its custom in-ear headphones. It offers a range of gaming gear for gamers, including mice, keyboards, headsets, gamepads and steering wheels.

FINANCIAL RATIOS  of  Logitech International (LOGI)

Valuation Ratios
P/E Ratio 36.6
Price to Sales 3.4
Price to Book 8.8
Price to Tangible Book
Price to Cash Flow 27
Price to Free Cash Flow 30.5
Growth Rates
Sales Growth Rate 10.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -43.9%
Cap. Spend. - 3 Yr. Gr. Rate -7.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 14.6%
Ret/ On Assets - 3 Yr. Avg. 8%
Return On Total Capital 25.5%
Ret/ On T. Cap. - 3 Yr. Avg. 14.1%
Return On Equity 25.5%
Return On Equity - 3 Yr. Avg. 14.1%
Asset Turnover 1.6
Profitability Ratios
Gross Margin 36.9%
Gross Margin - 3 Yr. Avg. 35.3%
EBITDA Margin 11.9%
EBITDA Margin - 3 Yr. Avg. 10.4%
Operating Margin 9.5%
Oper. Margin - 3 Yr. Avg. 7.8%
Pre-Tax Margin 9.7%
Pre-Tax Margin - 3 Yr. Avg. 7.9%
Net Profit Margin 9.3%
Net Profit Margin - 3 Yr. Avg. 5.2%
Effective Tax Rate 4.2%
Eff/ Tax Rate - 3 Yr. Avg. 3.2%
Payout Ratio 45.1%

LOGI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LOGI stock intrinsic value calculation we used $2221 million for the last fiscal year's total revenue generated by Logitech International. The default revenue input number comes from 2017 income statement of Logitech International. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LOGI stock valuation model: a) initial revenue growth rate of 10.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for LOGI is calculated based on our internal credit rating of Logitech International, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Logitech International.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LOGI stock the variable cost ratio is equal to 63.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $626 million in the base year in the intrinsic value calculation for LOGI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Logitech International.

Corporate tax rate of 27% is the nominal tax rate for Logitech International. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LOGI stock is equal to 1.2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LOGI are equal to 15.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Logitech International operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LOGI is equal to -1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $856 million for Logitech International - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 162 million for Logitech International is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Logitech International at the current share price and the inputted number of shares is $7.5 billion.

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COMPANY NEWS

▶ Logitech CEO Says Esports at Beginning of Secular Growth Trend   [Aug-14-18 08:22PM  Bloomberg Video]
▶ Logitech Files Quarterly Report on Form 10-Q   [Aug-02-18 05:00PM  Business Wire]
▶ [$$] Riverside to Sell Blue Microphones to Logitech for $117 Million   [Jul-31-18 06:46PM  The Wall Street Journal]
▶ Logitech: Fiscal 1Q Earnings Snapshot   [05:02AM  Associated Press]
▶ 5 Top Liquid Stocks for a Winning Portfolio   [Jun-18-18 11:48AM  InvestorPlace]
▶ Logitech Files Annual Report on Form 10-K   [May-21-18 05:00PM  Business Wire]
▶ Why Logitech International SA. (VTX:LOGN) Could Be A Buy   [May-15-18 07:26AM  Simply Wall St.]
▶ Logitech CEO Bracken Darrell   [May-10-18 05:26PM  Yahoo Finance Video]
▶ Esports, Video Conferencing Trends Fuel Logitech Gains   [May-03-18 05:43PM  Investor's Business Daily]
▶ Logitech: Fiscal 4Q Earnings Snapshot   [05:04AM  Associated Press]
▶ Logitech Grows to Highest Ever Fiscal Year Sales, Up 16%   [May-02-18 09:00PM  Business Wire]
▶ Marissa Mayer is launching a new tech incubator in Palo Altos luckiest office building   [Apr-19-18 10:23AM  American City Business Journals]
▶ Logitech G Launches New PRO Gaming Headset   [Mar-28-18 03:01AM  Business Wire]
▶ Logitech Breaks Company Record With 16 iF DESIGN AWARDS   [Mar-09-18 03:01AM  Business Wire]
▶ Trade of the Day: Logitech International SA (USA) (LOGI)   [Feb-16-18 09:28AM  InvestorPlace]
▶ JPMorgan: Logitech Is Trading Near Its Fair Value   [Feb-06-18 10:52AM  Benzinga]
▶ Logitech Files Quarterly Report on Form 10-Q   [Jan-25-18 06:08PM  Business Wire]
▶ Why Logitech International SA Stock Popped 11% Today   [Jan-23-18 06:38PM  Motley Fool]
▶ Logitech posts 3Q profit   [05:03AM  Associated Press]
▶ Logitech Delivers Record Sales, Up 22%   [Jan-22-18 09:00PM  Business Wire]
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