Logitech International (NASDAQ:LOGI) Sets New 1-Year Low – Time to Sell?

Logitech International S.A. (NASDAQ:LOGI)’s stock price reached a new 52-week low on Thursday . The company traded as low as $73.25 and last traded at $73.96, with a volume of 264331 shares traded. The stock had previously closed at $85.67.

Analysts Set New Price Targets

LOGI has been the subject of a number of research analyst reports. Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $125.00 in a report on Friday, March 7th. Barclays upped their price target on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Bank of America reissued an “underperform” rating and issued a $90.00 price objective (down previously from $105.00) on shares of Logitech International in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $100.14.

Logitech International Stock Down 14.2 %

The stock has a 50 day simple moving average of $95.94 and a 200 day simple moving average of $88.13. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. As a group, analysts forecast that Logitech International S.A. will post 4.21 EPS for the current year.

Logitech International declared that its board has approved a stock buyback plan on Wednesday, March 5th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 300 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares in the company, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock worth $451,426,000 after purchasing an additional 1,967,133 shares during the last quarter. Norges Bank bought a new position in shares of Logitech International in the fourth quarter valued at $156,888,000. Assenagon Asset Management S.A. boosted its stake in shares of Logitech International by 2,315.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,445,319 shares of the technology company’s stock worth $119,673,000 after acquiring an additional 1,385,493 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Logitech International by 34.2% in the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after purchasing an additional 1,240,478 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Logitech International by 700.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 748,580 shares of the technology company’s stock worth $61,978,000 after purchasing an additional 655,025 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.