Logitech International (NASDAQ:LOGI) Price Target Lowered to $120.00 at JPMorgan Chase & Co.

Logitech International (NASDAQ:LOGI) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $123.00 to $120.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 17.57% from the stock’s previous close.

Other analysts have also issued research reports about the company. Wedbush lowered their target price on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays cut their target price on Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Morgan Stanley decreased their target price on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Finally, Citigroup raised their target price on shares of Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $107.86.

Logitech International Price Performance

NASDAQ LOGI traded up $0.49 during trading on Friday, reaching $102.06. 811,564 shares of the company’s stock traded hands, compared to its average volume of 1,190,396. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 4.31 and a beta of 1.17. The company’s 50 day simple moving average is $106.26 and its two-hundred day simple moving average is $98.51. Logitech International has a 12-month low of $83.32 and a 12-month high of $129.66.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.90%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Research analysts expect that Logitech International will post 5.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Logitech International

A number of institutional investors have recently modified their holdings of LOGI. Quarry LP purchased a new stake in Logitech International in the 3rd quarter worth approximately $30,000. CIBC Private Wealth Group LLC lifted its stake in shares of Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after purchasing an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after buying an additional 165 shares in the last quarter. Richardson Financial Services Inc. boosted its holdings in Logitech International by 101.5% during the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after buying an additional 334 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Logitech International by 911.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock valued at $68,000 after buying an additional 611 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.