PARIS & SHANGHAI - Logitech (NASDAQ:LOGI) G, a brand of Logitech (SIX: LOGN) (NASDAQ: LOGI), today introduced its latest PRO Series gear aimed at elite esports athletes and competitive gamers. The new products, which include the PRO X SUPERLIGHT 2 DEX Gaming Mouse, the PRO 2 LIGHTSPEED Gaming Mouse, and the PRO X TKL RAPID Gaming Keyboard, are designed with professional gamers' feedback and are said to deliver top-tier performance.
The PRO X SUPERLIGHT 2 DEX, described as an "Asymmetrical Gaming Sharpshooter," is a right-handed mouse developed in collaboration with esports professionals. It's engineered with LIGHTSPEED Wireless Technology for 8kHz polling, a re-engineered HERO 2 Sensor for high tracking performance, and LIGHTFORCE Switches combining optical actuation with mechanical feedback. It also boasts sustainability credentials, being made with up to 55% post-consumer recycled ABS plastic.
The PRO 2 LIGHTSPEED mouse is an updated version of the original PRO Wireless, maintaining its ambidextrous design but with enhanced components and performance features. Meanwhile, the PRO X TKL RAPID keyboard is Logitech G's first magnetic analog offering, with adjustable actuation points and rapid trigger functionality, designed for quick and precise in-game actions without the need for software installation.
These new additions to the PRO Series are available in various colorways, with the PRO X SUPERLIGHT 2 DEX and the PRO 2 LIGHTSPEED available today at MSRPs of USD 159.99 and USD 129.99, respectively. The PRO X TKL RAPID Gaming Keyboard will be released in December with an MSRP of USD 169.99.
Logitech G's PRO Series is a collection of high-end headsets, mice, and keyboards developed through a "Design by Collaboration" program, meeting the stringent requirements of top esports professionals. The company emphasizes that the series is engineered to provide peak performance and comfort for extended gaming sessions.
The announcement is based on a press release statement from Logitech G. For more details, customers can visit the Logitech G website or engage with the brand on social media.
In other recent news, Logitech G, a brand under Logitech, has launched its new Racing Series of simulation racing gear and announced a partnership with MOMO to introduce two new premium sim racing wheels. The Racing Series offers a range of steering wheels, shifters, and handbrakes, while the partnership with MOMO aims to provide sim racers with a wide range of high-quality, authentic racing wheels. In addition to these developments, Logitech G has also released the Logitech G915 X Gaming Keyboard, a low-profile wireless gaming keyboard designed for advanced gaming experiences.
On the corporate front, Logitech International's shareholders have re-elected Wendy Becker as Chairperson, despite efforts by the company's founder, Daniel Borel, to have her replaced. Loop Capital has slightly adjusted the price target for Logitech International, increasing it to $88 from the previous $87, while maintaining a Hold recommendation on the stock. This follows Logitech's earnings report for the June quarter, which showed a rise in demand across several of the company's key product categories.
These are all recent developments and part of Logitech's broader strategy to normalize its market share across different geographies. The company's strategy moving forward will focus on Console & Mobile, Active Play, and Business-to-Business (B2B) expansion. Logitech has raised its revenue and operating income guidance for the fiscal year 2025, reflecting the company's expectations for continued growth and operational success.
InvestingPro Insights
As Logitech G unveils its latest PRO Series gear, the company's financial health and market performance provide a backdrop for understanding its capacity to innovate and meet the demands of the competitive gaming industry. According to InvestingPro data, Logitech (NASDAQ: LOGI) boasts a solid market capitalization of $13.25 billion, reflecting its significant presence in the tech sector. The company's commitment to returning value to shareholders is evident, with a notable dividend yield of 1.6% and a remarkable history of dividend growth, increasing it by 36.56% in the last twelve months as of Q1 2023.
Investors may find Logitech's current P/E ratio of 19.47 particularly attractive, especially when considering the company's adjusted P/E ratio for the last twelve months as of Q1 2023, which sits at 19.07. This metric suggests that the stock is trading at a reasonable valuation relative to its near-term earnings growth. In fact, one of the InvestingPro Tips highlights that Logitech is trading at a low P/E ratio in comparison to its expected earnings growth, which could signal a buying opportunity for value investors.
Furthermore, Logitech's financial stability is underlined by its strong liquidity position, where its liquid assets exceed short-term obligations. This robust financial footing is complemented by an InvestingPro Tip pointing out that the company holds more cash than debt on its balance sheet, positioning it well to navigate market uncertainties and invest in future growth opportunities.
For investors seeking additional insights and tips on Logitech's stock, InvestingPro offers a comprehensive list of tips, including management's aggressive share buyback strategy and the company's low price volatility. In total, InvestingPro provides 10 additional tips for Logitech, which can be accessed through the InvestingPro platform.
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