Logitech (LOGI), GameChanger Tie Up For Enhanced Video Streaming

Logitech’s LOGI Mevo recently partnered with the New York-based youth sporting app GameChanger by DICK'S Sporting Goods for in-app integration. Per the deal, GameChanger users will now be able to stream high-quality, 1080p HD resolution video from a wireless Mevo Start camera with just a tap.

A member of Logitech for Creators, Mevo, has designed Start camera for longform events and can stream or record for over six hours. It is a wireless camera with app-controlled live editing, which serves over 100,000 customers generating more than 80,000 new Mevo live streams per month.

The Mevo Start camera features a high-quality HD sensor that provides excellent image quality for streaming and recording, and low-light sensitivity. It features an Ambarella H22 processor, which integrates powerful on-device video and audio processing.

With the integration of Mevo Start into GameChanger’s portfolio, the app users will be able to stream their video from anywhere using Wi-Fi, phone's hotspot and over Ethernet (plugging Ethernet adapter). They can also connect to a power source through USB-C for long streaming purposes. The camera will enable coaches and parents to easily share broadcast-quality video both from the field and court.

Logitech is benefiting from elevated demand for its products in the Gaming, Creativity & Productivity, and Video Collaboration units. Its continued focus on bolstering cloud-based video conferencing services is aiding it to robustly expand the clientele base.

Logitech International S.A. Price and Consensus

Logitech International S.A. price-consensus-chart | Logitech International S.A. Quote

The growing adoption of new mobile platforms in both mature and emerging markets is fueling the demand for the company’s peripherals and accessories. Logitech’s expanding partner base that includes Google, Microsoft and Zoom Video is key to its top-line performance. Acquisitions like Streamlabs — a leading tool provider for professional streamers, and ASTRO Gaming — a popular console gaming headset maker are major positives.

During the fiscal second quarter of 2022, Logitech’s revenues increased 4% to $1.31 billion. The Zacks Consensus Estimate for the company’s third-quarter fiscal 2022 revenues is pegged at $1.51 billion, suggesting a 9.47% year-over-year decline.

Zacks Rank & Stocks to Consider

Logitech currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the broader technology sector are Arrow Electronics ARW, which sports a Zacks Rank #1 (Strong Buy), while Advanced Micro Devices AMD and Qualcomm QCOM, both carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Arrow’s Zacks Consensus Estimate for fourth-quarter fiscal 2021 earnings has been raised to $4.42 per share from $3.85 in the past 60 days. For fiscal 2021, earnings estimates have moved north by 8.1% to $14.6 per share over the past 60 days.

Arrow beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average surprise being 18.6%. Shares of ARW have appreciated 28.2% year-to-date (“YTD”).

The Zacks Consensus Estimate for Advanced Micro Devices’ fourth-quarter 2021 earnings has been revised upward by 7 cents to 75 cents per share over the past 60 days. For 2021, earnings estimates have moved north by 0.38% to $2.65 per share in the last seven days.

Advanced Micro Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14%. Shares of AMD have rallied 59.7% in the YTD period.

The consensus mark for Qualcomm’s first-quarter fiscal 2022 earnings has been raised to $3.01 per share from $3 in the past 30 days. For fiscal 2022, earnings estimates have been revised upward by 1.5% to $10.49 per share in the past 30 days.

Qualcomm’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 11.2%. Shares of QCOM have gained 24.2% YTD.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.