Logitech International (NASDAQ:LOGI) Hits New 12-Month Low – What’s Next?

Logitech International S.A. (NASDAQ:LOGI)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $64.73 and last traded at $65.57, with a volume of 1570088 shares trading hands. The stock had previously closed at $68.17.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LOGI shares. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and cut their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Kepler Capital Markets raised Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Citigroup raised their price target on Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Finally, Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $125.00 in a report on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Logitech International currently has a consensus rating of “Hold” and a consensus target price of $97.71.

Logitech International Trading Down 5.2 %

The firm has a market capitalization of $11.13 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.61 and a beta of 0.97. The company has a 50 day moving average of $91.96 and a 200-day moving average of $87.20.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating 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, sell-side analysts forecast that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International announced that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business’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 completion of the transaction, the insider now directly owns 7,348 shares in the company, valued at $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Logitech International

Several hedge funds and other institutional investors have recently modified their holdings of LOGI. Charles Schwab Investment Management Inc. lifted its holdings in shares of Logitech International by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock worth $1,455,000 after acquiring an additional 1,206 shares during the last quarter. Wellington Management Group LLP boosted its position in Logitech International by 37.3% in the third quarter. Wellington Management Group LLP now owns 135,896 shares of the technology company’s stock valued at $12,173,000 after buying an additional 36,950 shares in the last quarter. MML Investors Services LLC boosted its position in Logitech International by 16.3% in the third quarter. MML Investors Services LLC now owns 2,935 shares of the technology company’s stock valued at $263,000 after buying an additional 411 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Logitech International during the third quarter worth $421,000. Finally, Barclays PLC lifted 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 valued at $451,426,000 after acquiring an additional 1,967,133 shares during the last quarter. Institutional investors own 45.76% of the company’s stock.

About Logitech International

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.