Logitech International (NASDAQ:LOGI) Sets New 52-Week High - Here's What Happened

Logitech International S.A. (NASDAQ:LOGI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $102.61 and last traded at $102.69, with a volume of 393163 shares changing hands. The stock had previously closed at $100.38.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley raised Logitech International from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. StockNews.com raised Logitech International from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Bank of America downgraded Logitech International from a "buy" rating to a "neutral" rating and lowered their price target for the company from $114.00 to $92.00 in a report on Monday, December 16th. Finally, UBS Group raised Logitech International from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Logitech International currently has a consensus rating of "Hold" and a consensus price target of $97.13.

Logitech International Price Performance

The business has a 50-day simple moving average of $89.61 and a 200 day simple moving average of $86.65. The firm has a market cap of $16.62 billion, a PE ratio of 24.66, a PEG ratio of 2.54 and a beta of 0.78.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. On average, equities analysts forecast that Logitech International S.A. will post 4.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 300 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total transaction of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

Institutional Trading of Logitech International

Several institutional investors have recently made changes to their positions in the business. Barclays PLC grew its position in shares of Logitech International by 8.2% during the fourth quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock worth $448,409,000 after purchasing an additional 414,236 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Logitech International by 34.2% during the fourth quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company's stock worth $402,802,000 after purchasing an additional 1,240,478 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Logitech International by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company's stock worth $341,610,000 after purchasing an additional 85,278 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Logitech International by 6.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company's stock valued at $215,127,000 after buying an additional 146,338 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Logitech International by 3.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,451,730 shares of the technology company's stock valued at $219,611,000 after buying an additional 89,788 shares in the last quarter. Hedge funds and other 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.