Logitech International (NASDAQ:LOGI) Sets New 52-Week Low – Should You Sell?

Shares of Logitech International S.A. (NASDAQ:LOGI) hit a new 52-week low on Thursday . The stock traded as low as $73.25 and last traded at $73.96, with a volume of 264331 shares. The stock had previously closed at $85.67.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LOGI. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Barclays boosted their target price on shares of Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and dropped their price target for the company from $90.00 to $73.00 in a research note on Friday. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their target price on Logitech International from $99.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Logitech International has an average rating of “Hold” and an average target price of $97.71.

Logitech International Stock Down 3.0 %

The firm’s 50-day simple moving average is $95.10 and its 200 day simple moving average is $87.90. The stock has a market capitalization of $10.96 billion, a P/E ratio of 16.27, a PEG ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI) last released its 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, equities analysts anticipate that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its Board of Directors has authorized a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction 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 approximately $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 hedge funds have recently bought and sold shares of LOGI. Banque Transatlantique SA acquired a new stake in shares of Logitech International during the fourth quarter worth approximately $26,000. Sierra Ocean LLC purchased a new stake in Logitech International in the 4th quarter worth approximately $27,000. Bessemer Group Inc. boosted its stake in shares of Logitech International by 1,339.1% during the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock valued at $27,000 after buying an additional 308 shares during the period. Exane Asset Management purchased a new position in shares of Logitech International during the 4th quarter valued at $32,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Logitech International by 975.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company’s stock worth $40,000 after acquiring an additional 439 shares during the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

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.