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

Logitech International S.A. (NASDAQ:LOGI - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $73.25 and last traded at $73.96, with a volume of 264331 shares changing hands. The stock had previously closed at $85.67.

Wall Street Analysts Forecast Growth

LOGI has been the subject of several recent analyst reports. Kepler Capital Markets raised Logitech International from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Citigroup raised their price objective on Logitech International from $92.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Barclays raised their price target on shares of Logitech International from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, Morgan Stanley upgraded shares of Logitech International from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $73.00 to $92.00 in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $97.71.

Logitech International Price Performance

The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.61 and a beta of 0.97. The stock's 50 day simple moving average is $94.62 and its 200-day simple moving average is $87.79.

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Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (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, equities research analysts anticipate 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 approved a share 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 buy up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Institutional Trading of Logitech International

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in Logitech International by 20.5% in the 1st quarter. Parallel Advisors LLC now owns 1,425 shares of the technology company's stock worth $121,000 after acquiring an additional 242 shares during the period. GAMMA Investing LLC increased its stake in shares of Logitech International by 8,341.0% in the first quarter. GAMMA Investing LLC now owns 12,155 shares of the technology company's stock worth $1,026,000 after purchasing an additional 12,011 shares during the period. Versant Capital Management Inc lifted its position in shares of Logitech International by 4,955.2% during the 1st quarter. Versant Capital Management Inc now owns 2,932 shares of the technology company's stock worth $247,000 after purchasing an additional 2,874 shares during the last quarter. Wellington Management Group LLP boosted its stake in Logitech International by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 150,393 shares of the technology company's stock valued at $12,453,000 after purchasing an additional 14,497 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Logitech International by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company's stock valued at $507,000 after purchasing an additional 120 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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.