Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of computer-peripherals maker Logitech International (Nasdaq: LOGI) sank 10% on Thursday after cutting its full-year sales and earnings outlook.

So what: Today's announcement represents Logitech's third successive profit warning, giving investors plenty of reason to question management's forecast-meeting ability. In fact, the stock is hitting a new 52-week low on the news and is down about 60% year to date.

Now what: Today's plunge might be worth buying into. "I am very, very sorry for this, but I believe [this warning] will be the last," Interim CEO Guerrino De Luca said. "The situation will improve going forward." While Apple's (Nasdaq: AAPL) iPad continues to threaten Logitech's core business, De Luca's "promise" that the bad news is over, coupled with a now single-digit forward P/E, suggests that the stock might finally be ready to turn.

Interested in more info on Logitech? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. The Motley Fool owns shares of Apple. Motley Fool newsletter services have recommended buying shares of and creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days.

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