On July 29, Logitech International SA declined 7.28% in after-hours trading, trading at $104.0/share, with turnover of $2.0152 million. The sell-off followed the company's release of fiscal year 2027 first-quarter results after the close.
The earnings report landed amid a cautious analyst backdrop. Morgan Stanley had warned that declining PC demand would weigh on Logitech's accessories and gaming businesses, projecting more than 5% downside risk to revenue for fiscal 2027 and 2028, citing rising computer prices, weaker consumer spending, and growing channel inventory. Bank of America had previously downgraded the stock to underperform with a target price of $86, noting that significant price increases across PCs, tablets, smartphones, and gaming systems could materially suppress demand over the next 12 to 18 months. While Wedbush had expected decent Q1 results driven by new products and China growth, with revenue estimated at $1.21 billion and adjusted EPS of $1.39, investor reaction suggests the broader demand concerns outweighed near-term results.
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