Logitech International (NASDAQ:LOGI) Reaches New 12-Month High – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on LOGI. Wedbush restated a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research note on Wednesday, January 22nd. Loop Capital decreased their price objective on shares of Logitech International from $88.00 to $81.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Citigroup upped their target price on shares of Logitech International from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Bank of America lowered Logitech International from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $114.00 to $92.00 in a research note on Monday, December 16th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $97.13.

Logitech International Stock Performance

The firm has a market cap of $16.34 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.54 and a beta of 0.78. The firm’s fifty day simple moving average is $88.43 and its 200 day simple moving average is $86.33.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating 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 research analysts predict that Logitech International S.A. will post 4.18 earnings per share for the current year.

Insider Activity

In other news, insider Samantha Harnett sold 300 shares of the company’s 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 sale, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of Logitech International by 2.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after purchasing an additional 127 shares during the period. Rosenberg Matthew Hamilton lifted its position in Logitech International by 5.8% in the third quarter. Rosenberg Matthew Hamilton now owns 2,339 shares of the technology company’s stock worth $210,000 after buying an additional 128 shares during the last quarter. Investment Management Corp of Ontario increased its position in Logitech International by 0.4% during the third quarter. Investment Management Corp of Ontario now owns 40,439 shares of the technology company’s stock valued at $3,629,000 after acquiring an additional 170 shares during the last quarter. Tealwood Asset Management Inc. increased its position in Logitech International by 1.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock valued at $1,231,000 after acquiring an additional 175 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Logitech International by 2.5% in the third quarter. US Bancorp DE now owns 7,898 shares of the technology company’s stock valued at $709,000 after acquiring an additional 196 shares during the period. 45.76% of the stock is owned by institutional investors.

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.