Logitech International (NASDAQ:LOGI) Reaches New 1-Year High – What’s Next?

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America downgraded Logitech International from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $114.00 to $92.00 in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research 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. Kepler Capital Markets upgraded shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Finally, Loop Capital cut 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. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Logitech International has a consensus rating of “Hold” and an average price target of $97.13.

Logitech International Stock Up 1.7 %

The firm has a 50 day moving average price of $89.21 and a 200 day moving average price of $86.57. The stock has a market capitalization of $16.62 billion, a PE ratio of 24.66, a P/E/G ratio of 2.54 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last released 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 analysts forecast that Logitech International S.A. will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

Several large investors have recently made changes to their positions in LOGI. Sierra Ocean LLC purchased a new stake in Logitech International during the fourth quarter worth about $27,000. Bessemer Group Inc. increased its holdings in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company’s stock worth $27,000 after acquiring an additional 308 shares during the last quarter. Exane Asset Management purchased a new stake in shares of Logitech International during the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC grew its position 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 valued at $40,000 after purchasing an additional 439 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Logitech International in the 4th quarter worth about $49,000. 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.