Logitech International (NASDAQ:LOGI) Hits New 52-Week Low - What's Next?

Logitech International S.A. (NASDAQ:LOGI - Get Free Report)'s share price reached 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 changing hands. The stock had previously closed at $68.17.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wedbush raised shares of Logitech International from a "neutral" rating to an "outperform" rating and raised their price target for the company from $100.00 to $125.00 in a research report on Friday, March 7th. Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and dropped their price objective for the stock from $90.00 to $73.00 in a report on Friday, April 4th. JPMorgan Chase & Co. boosted their price target on shares of Logitech International from $99.00 to $100.00 and gave the company a "neutral" rating in a research report 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. Finally, Citigroup raised their price target on Logitech International from $92.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $97.71.

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Logitech International Stock Up 4.8 %

The company has a 50-day simple moving average of $91.42 and a two-hundred day simple moving average of $87.10. The stock has a market cap of $11.88 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates 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 earnings per share for the current fiscal year.

Logitech International declared that its Board of Directors has initiated a stock repurchase 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction dated 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 of the company's stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Logitech International

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its holdings in shares of Logitech International by 4,876.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company's stock valued at $13,798,000 after buying an additional 164,185 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Logitech International by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company's stock valued at $1,455,000 after purchasing an additional 1,206 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Logitech International by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock valued at $28,913,000 after acquiring an additional 18,986 shares during the period. US Bancorp DE lifted its position in Logitech International by 5.6% during the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock valued at $687,000 after purchasing an additional 446 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in Logitech International in the third quarter worth about $12,597,000. Hedge funds and other 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.