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Logitech (LOGI) Introduces New Ergonomic Keyboards for Work
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Logitech (LOGI - Free Report) recently introduced its wireless ergonomic keyboards, Wave Keys and Wave Keys for Business, as the newest additions to its ERGO Series. The keyboards have undergone testing at Logitech's Ergo Lab and received approval from the U.S. Ergonomics.
The company has designed Wave Keys with a focus on a compact layout and comfortable typing. These keyboards come equipped with cushioned palm rests and will be available in three different colors, such as Graphite, Off-White and Rose. However, the Rose variant will be initially introduced in selected markets during 2024.
The product can simultaneously connect to three devices via Bluetooth or utilize the Logi BOLT for secure and high-performance connections. With multi-OS compatibility, the keyboards can seamlessly switch between devices, including PCs and Macs, with just a single tap.
While developing this product, Logitech ensured compliance with carbon neutrality standards. The packaging material is sourced from Forest Stewardship Council-certified spots and the plastic parts are made from certified post-consumer recycled plastic obtained from old consumer electronics.
The launch of Wave Keys is part of a series of product launches in the second quarter of 2024, which also included the Logitech G PRO X TKL LIGHTSPEED Gaming Keyboard, Logitech G PRO X SUPERLIGHT 2 Gaming Mouse and the latest generation of Yeti microphones.
Shares of Logitech have outperformed the Zacks Computer – Peripheral Equipment industry in the year-to-date (YTD) period. Shares of LOGI have gained 14.6% YTD compared with the Computer – Peripheral Equipment industry’s rise of 2.8%.
Logitech Focuses on Expanding Product Portfolio
Logitech is intending to tap the high-potential market for accessories by pursuing innovation and expanding its product lines. The company has manufactured innovative offerings like the fastest performing mouse and keyboard switches, wireless mouse with longest battery and multi-device keyboards, among others.
The company is also expanding its product portfolio through acquisitions. In July 2023, it acquired Finland’s Loupedeck. The acquisition is expected to enhance Logitech’s ability to provide customizable and contextual control experiences for the company’s full portfolio of devices, including the Logitech Software Roadmap solution.
Loupedeck offers deep native integrations with industry-leading creative software for photo editing, retouching, video editing, color grading design and streaming. Its custom consoles combine analog control with digital precision to offer power and flexibility to all creators. With this buyout, Logitech will leverage Loupedeck’s strong and growing developer community that will unveil advanced innovation, empowering streamers, creators and gamers.
Logitech’s sustained focus on introducing new and innovative products might boost sales and somewhat offset the negative impact of the weakened demand for PC peripheral products. In 2020 and 2021, Logitech benefited from the elevated demand for its Video Collaboration, PC Webcams, Keyboards & Combos and Pointing Device tools, mainly driven by the heightening of work-from-home and learn-from-home trends.
However, the weakening global economy amid ongoing macroeconomic and geopolitical issues enhanced global recessionary concerns, thereby prompting enterprises to postpone their large IT spending plan. Furthermore, continued industry layoffs due to growing recessionary concerns are hampering the demand for PC peripheral products by organizations.
The aforementioned factors are hurting Logitech’s financial performance. In first-quarter fiscal 2024, the company’s revenues and non-GAAP earnings per share declined 16% and 12%, respectively, on a year-over-year basis.
Zacks Rank and Other Stocks to Consider
Currently, Logitech carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Synopsys’ fourth-quarter fiscal 2023 earnings has been revised upward by 12 cents to $3.04 per share in the past 60 days. For fiscal 2023, earnings estimates have moved upward by 27 cents to $11.09 per share in the past 60 days.
Synopsys’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.23%. Shares of SNPS have gained 55% year to date.
The Zacks Consensus Estimate for NVIDIA’s third-quarter fiscal 2024 earnings has been revised by 2 cents northward to $3.34 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 7 cents to $10.74 in the past 30 days.
NVDA's earnings beat the Zacks Consensus Estimate in preceding three quarters, while missing the same on one occasion, the average surprise being 9.8%. Shares of NVDA have rallied 220.3% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by a penny to $1.12 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 2 cents to $3.78 per share in the past 30 days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 155%. Shares of SPLK have surged 71% year to date.
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Logitech (LOGI) Introduces New Ergonomic Keyboards for Work
Logitech (LOGI - Free Report) recently introduced its wireless ergonomic keyboards, Wave Keys and Wave Keys for Business, as the newest additions to its ERGO Series. The keyboards have undergone testing at Logitech's Ergo Lab and received approval from the U.S. Ergonomics.
The company has designed Wave Keys with a focus on a compact layout and comfortable typing. These keyboards come equipped with cushioned palm rests and will be available in three different colors, such as Graphite, Off-White and Rose. However, the Rose variant will be initially introduced in selected markets during 2024.
The product can simultaneously connect to three devices via Bluetooth or utilize the Logi BOLT for secure and high-performance connections. With multi-OS compatibility, the keyboards can seamlessly switch between devices, including PCs and Macs, with just a single tap.
Logitech International S.A. Price and Consensus
Logitech International S.A. price-consensus-chart | Logitech International S.A. Quote
While developing this product, Logitech ensured compliance with carbon neutrality standards. The packaging material is sourced from Forest Stewardship Council-certified spots and the plastic parts are made from certified post-consumer recycled plastic obtained from old consumer electronics.
The launch of Wave Keys is part of a series of product launches in the second quarter of 2024, which also included the Logitech G PRO X TKL LIGHTSPEED Gaming Keyboard, Logitech G PRO X SUPERLIGHT 2 Gaming Mouse and the latest generation of Yeti microphones.
Shares of Logitech have outperformed the Zacks Computer – Peripheral Equipment industry in the year-to-date (YTD) period. Shares of LOGI have gained 14.6% YTD compared with the Computer – Peripheral Equipment industry’s rise of 2.8%.
Logitech Focuses on Expanding Product Portfolio
Logitech is intending to tap the high-potential market for accessories by pursuing innovation and expanding its product lines. The company has manufactured innovative offerings like the fastest performing mouse and keyboard switches, wireless mouse with longest battery and multi-device keyboards, among others.
The company is also expanding its product portfolio through acquisitions. In July 2023, it acquired Finland’s Loupedeck. The acquisition is expected to enhance Logitech’s ability to provide customizable and contextual control experiences for the company’s full portfolio of devices, including the Logitech Software Roadmap solution.
Loupedeck offers deep native integrations with industry-leading creative software for photo editing, retouching, video editing, color grading design and streaming. Its custom consoles combine analog control with digital precision to offer power and flexibility to all creators. With this buyout, Logitech will leverage Loupedeck’s strong and growing developer community that will unveil advanced innovation, empowering streamers, creators and gamers.
Logitech’s sustained focus on introducing new and innovative products might boost sales and somewhat offset the negative impact of the weakened demand for PC peripheral products. In 2020 and 2021, Logitech benefited from the elevated demand for its Video Collaboration, PC Webcams, Keyboards & Combos and Pointing Device tools, mainly driven by the heightening of work-from-home and learn-from-home trends.
However, the weakening global economy amid ongoing macroeconomic and geopolitical issues enhanced global recessionary concerns, thereby prompting enterprises to postpone their large IT spending plan. Furthermore, continued industry layoffs due to growing recessionary concerns are hampering the demand for PC peripheral products by organizations.
The aforementioned factors are hurting Logitech’s financial performance. In first-quarter fiscal 2024, the company’s revenues and non-GAAP earnings per share declined 16% and 12%, respectively, on a year-over-year basis.
Zacks Rank and Other Stocks to Consider
Currently, Logitech carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader technology sector are Synopsys (SNPS - Free Report) , NVIDIA (NVDA - Free Report) and Splunk , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Synopsys’ fourth-quarter fiscal 2023 earnings has been revised upward by 12 cents to $3.04 per share in the past 60 days. For fiscal 2023, earnings estimates have moved upward by 27 cents to $11.09 per share in the past 60 days.
Synopsys’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.23%. Shares of SNPS have gained 55% year to date.
The Zacks Consensus Estimate for NVIDIA’s third-quarter fiscal 2024 earnings has been revised by 2 cents northward to $3.34 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 7 cents to $10.74 in the past 30 days.
NVDA's earnings beat the Zacks Consensus Estimate in preceding three quarters, while missing the same on one occasion, the average surprise being 9.8%. Shares of NVDA have rallied 220.3% year to date.
The Zacks Consensus Estimate for SPLK's third-quarter fiscal 2024 earnings has been revised upward by a penny to $1.12 per share in the past 30 days. For fiscal 2024, earnings estimates have increased by 2 cents to $3.78 per share in the past 30 days.
Splunk’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 155%. Shares of SPLK have surged 71% year to date.