JPMorgan Chase & Co. Cuts Logitech International (NASDAQ:LOGI) Price Target to $80.00

Logitech International (NASDAQ:LOGI) had its price objective reduced by JPMorgan Chase & Co. from $96.00 to $80.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Logitech International from an “underperform” rating to a “neutral” rating and reduced their target price for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Barclays lifted their price objective on 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 Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Logitech International presently has an average rating of “Hold” and a consensus target price of $90.57.

Logitech International Stock Up 2.1 %

LOGI opened at $71.63 on Thursday. The stock’s 50 day moving average price is $88.64 and its two-hundred day moving average price is $86.55. The firm has a market capitalization of $11.33 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International has a 12-month low of $64.73 and a 12-month high of $105.65.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping 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, analysts anticipate that Logitech International will post 4.21 earnings per share for the current year.

Logitech International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Samantha Harnett sold 300 shares of the company’s 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 of the company’s stock, valued at $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LOGI. Wealth Enhancement Advisory Services LLC boosted its stake in Logitech International by 2.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company’s stock valued at $507,000 after acquiring an additional 120 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Logitech International by 2.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock worth $458,000 after buying an additional 127 shares during the period. Freedom Investment Management Inc. raised its position in shares of Logitech International by 4.1% in the 4th quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company’s stock valued at $284,000 after acquiring an additional 136 shares during the period. Tealwood Asset Management Inc. boosted its stake in Logitech International by 1.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company’s stock worth $1,231,000 after acquiring an additional 175 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Logitech International by 16.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company’s stock valued at $123,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 45.76% of the company’s stock.

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.