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Logitech's (LOGI) New Offerings to Boost Retail Strength
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Buoyed by the impressive momentum in its Retail segment businesses, computer and mobile accessories maker, Logitech International S.A. (LOGI - Free Report) rolled out a set of products over the past one week. These include Logitech MeetUp, a conference-cam offering, Logitech Slim Combo, a protective cover and detachable keyboard for Apple's new iPad Pro, and Logitech Flow, software to control multiple computers with one mouse.
Product Details
To be available from July, MeetUp comes with a 120-degree field view, offering higher visibility around the table. MeetUp is capable of working with virtually any video-conferencing software application and cloud service, including Skype for Business and Cisco collaboration applications.
It has a suggested price tag of $899 in the U.S., €1099 in Europe and £999 in the U.K. Logitech estimates that globally, there are about 30-50 million huddle rooms in need of video adoption, leaving ample scope for MeetUp’s market traction. To improve adoptability, the company has also introduced ConferenceCam Soft Remote, an application that can convert a smartphone or tablet into a remote control for MeetUp.
In addition, Apple Inc.’s (AAPL - Free Report) latest 10.5-inch and 12.9-inch iPad Pro got a new protective cover in Logitech’s Slim Combo. This latest offering comes with two micro hinges, which will allow customers to smoothly recline iPad Pro within a 50-degree range and keep it in place. Priced at $129.99 for the 10.5-inch iPad Pro and $149.99 for the 12.9-inch iPad Pro, Slim Combo comes in two colors — blue and black.
This apart, the company introduced Logitech Flow, software that will allow clients to control up to three computers with one mouse. MX Master 2S and MX Anywhere 2S, the latest additions to the next-generation MX portfolio, have also been equipped to work seamlessly with the software. To be shipped from July, MX Master 2S and MX Anywhere 2S have a cost price of $99.99 and $79.99, respectively.
Strong Growth Drivers
Growing adoption of new mobile platforms in both mature and emerging markets have been fueling the demand for Logitech’s peripherals and accessories. The company’s fourth-quarter fiscal 2017 results were driven by strong, broad-based momentum in Retail segment businesses, which grew a record 15% year over year in constant currency.
Year to date, the stock has enjoyed a strong bull run, having generated a return of 49.8%, which is almost double that of the Zacks categorized Computer-Peripheral Equipment industry’s average gain of 25%. Further, over the past couple of months, analysts have also turned bullish on the stock, as indicated by positive estimate revisions. The Zacks Consensus Estimate for fiscal 2018 earnings has inched up from $1.20 to $1.21, supported by two upward estimate revisions versus zero downward.
Going forward, we believe that the company’s focus on venturing into new businesses will act as a primary catalyst. In the past three years, it has grown successful businesses, including Bluetooth Speakers and Video Collaboration via advanced offerings. We believe that thriving cloud-based video-conferencing services, strategic product launches and restructuring actions will continue to stoke growth for the Zacks Rank #2 (Buy) company.
Cohu has a striking earnings surprise history, with an average positive surprise of 121.2% over the trailing four quarters, beating estimates all through.
Motorola has a striking earnings surprise history for the last four quarters, having beaten estimates all through for an impressive average of 16.6%.
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Logitech's (LOGI) New Offerings to Boost Retail Strength
Buoyed by the impressive momentum in its Retail segment businesses, computer and mobile accessories maker, Logitech International S.A. (LOGI - Free Report) rolled out a set of products over the past one week. These include Logitech MeetUp, a conference-cam offering, Logitech Slim Combo, a protective cover and detachable keyboard for Apple's new iPad Pro, and Logitech Flow, software to control multiple computers with one mouse.
Product Details
To be available from July, MeetUp comes with a 120-degree field view, offering higher visibility around the table. MeetUp is capable of working with virtually any video-conferencing software application and cloud service, including Skype for Business and Cisco collaboration applications.
It has a suggested price tag of $899 in the U.S., €1099 in Europe and £999 in the U.K. Logitech estimates that globally, there are about 30-50 million huddle rooms in need of video adoption, leaving ample scope for MeetUp’s market traction. To improve adoptability, the company has also introduced ConferenceCam Soft Remote, an application that can convert a smartphone or tablet into a remote control for MeetUp.
In addition, Apple Inc.’s (AAPL - Free Report) latest 10.5-inch and 12.9-inch iPad Pro got a new protective cover in Logitech’s Slim Combo. This latest offering comes with two micro hinges, which will allow customers to smoothly recline iPad Pro within a 50-degree range and keep it in place. Priced at $129.99 for the 10.5-inch iPad Pro and $149.99 for the 12.9-inch iPad Pro, Slim Combo comes in two colors — blue and black.
This apart, the company introduced Logitech Flow, software that will allow clients to control up to three computers with one mouse. MX Master 2S and MX Anywhere 2S, the latest additions to the next-generation MX portfolio, have also been equipped to work seamlessly with the software. To be shipped from July, MX Master 2S and MX Anywhere 2S have a cost price of $99.99 and $79.99, respectively.
Strong Growth Drivers
Growing adoption of new mobile platforms in both mature and emerging markets have been fueling the demand for Logitech’s peripherals and accessories. The company’s fourth-quarter fiscal 2017 results were driven by strong, broad-based momentum in Retail segment businesses, which grew a record 15% year over year in constant currency.
Year to date, the stock has enjoyed a strong bull run, having generated a return of 49.8%, which is almost double that of the Zacks categorized Computer-Peripheral Equipment industry’s average gain of 25%. Further, over the past couple of months, analysts have also turned bullish on the stock, as indicated by positive estimate revisions. The Zacks Consensus Estimate for fiscal 2018 earnings has inched up from $1.20 to $1.21, supported by two upward estimate revisions versus zero downward.
Going forward, we believe that the company’s focus on venturing into new businesses will act as a primary catalyst. In the past three years, it has grown successful businesses, including Bluetooth Speakers and Video Collaboration via advanced offerings. We believe that thriving cloud-based video-conferencing services, strategic product launches and restructuring actions will continue to stoke growth for the Zacks Rank #2 (Buy) company.
Other Stocks to Consider
Other top-ranked stocks in the broader sector include Cohu, Inc. (COHU - Free Report) and Motorola Solutions, Inc. (MSI - Free Report) . While Cohu sports a Zacks Rank #1 (Strong Buy), Motorola Solutions holds a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cohu has a striking earnings surprise history, with an average positive surprise of 121.2% over the trailing four quarters, beating estimates all through.
Motorola has a striking earnings surprise history for the last four quarters, having beaten estimates all through for an impressive average of 16.6%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>