Logitech International (NASDAQ:LOGI) Hits New 52-Week High – What’s Next?

Shares of Logitech International S.A. (NASDAQ:LOGI) reached 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. The stock had previously closed at $100.38.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley raised 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. Citigroup raised their price objective on Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Barclays raised their price target on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Logitech International presently has an average rating of “Hold” and an average target price of $97.13.

Logitech International Stock Up 2.9 %

The firm’s fifty day simple moving average is $88.43 and its 200-day simple moving average is $86.33. The firm has a market capitalization of $16.34 billion, a PE ratio of 24.25, a PEG ratio of 2.54 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last issued 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 return on equity of 30.53% and a net margin of 14.38%. As a group, analysts predict that Logitech International S.A. will post 4.18 earnings per share for the current year.

Insider Activity

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 value of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares of the company’s stock, valued at $709,816.80. The trade was a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sierra Ocean LLC bought a new position in shares of Logitech International in the 4th quarter worth approximately $27,000. Bessemer Group Inc. raised its position in Logitech International by 1,339.1% in the fourth 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 period. Exane Asset Management purchased a new position in shares of Logitech International during the 4th quarter worth $32,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Logitech International during the 4th quarter valued at $49,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Logitech International by 56.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 649 shares of the technology company’s stock worth $53,000 after purchasing an additional 233 shares in 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.