Why It’s Not Too Late to Buy Logitech Stock
Logitech International (NASDAQ: LOGI) has delivered big returns to investors, with the stock price up 422% over the last five years. Two stellar earnings reports to start the year has the stock up 56% so far in 2020.
After sales increased by 7% in fiscal 2020 on a currency-neutral basis, the shelter-in-place period over COVID-19 caused growth to accelerate to 15% in the fiscal fourth quarter. In the most recent quarter, sales growth accelerated again to 25% on a currency-neutral basis, while operating income surged 76%.
While these robust growth rates will likely moderate at some point once COVID-19 has passed, management believes the pandemic accelerated trends that were already driving growth in recent years. At a forward price-to-earnings (P/E) ratio of 30 and a dividend yield of 1%, this growth stock could be a sleeper.
Source Fool.com
