Logitech International (NASDAQ:LOGI) Given New $94.00 Price Target at JPMorgan Chase & Co.

Logitech International (NASDAQ:LOGI) had its price target cut by analysts at JPMorgan Chase & Co. from $102.00 to $94.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 8.89% from the company’s previous close.

Several other research firms have also recently commented on LOGI. Wedbush dropped their target price on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Bank of America lowered Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a report on Tuesday, June 30th. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Morgan Stanley dropped their price target on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a report on Wednesday, July 8th. Finally, Wall Street Zen cut Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, September 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.14.

Logitech International Price Performance

Shares of NASDAQ LOGI traded up $4.84 during trading on Tuesday, hitting $103.17. The stock had a trading volume of 545,557 shares, compared to its average volume of 1,070,040. The firm has a fifty day moving average of $101.26 and a two-hundred day moving average of $102.12. The company has a market capitalization of $15.12 billion, a PE ratio of 18.92, a PEG ratio of 3.58 and a beta of 1.14. Logitech International has a 12 month low of $83.32 and a 12 month high of $129.66.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned $1.26 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that Logitech International will post 5.24 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the transaction, the insider owned 37,097 shares of the company’s stock, valued at $3,759,780.95. This represents a 30.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOGI. Rockefeller Capital Management L.P. lifted its position in shares of Logitech International by 15.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after acquiring an additional 114 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Logitech International by 19.1% in the first quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after purchasing an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Logitech International by 4.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,019 shares of the technology company’s stock valued at $364,000 after purchasing an additional 171 shares during the period. Frank Rimerman Advisors LLC raised its stake in shares of Logitech International by 2.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 11,717 shares of the technology company’s stock valued at $1,068,000 after purchasing an additional 317 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Logitech International by 14.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,485 shares of the technology company’s stock worth $226,000 after purchasing an additional 320 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

About Logitech International

Logitech International is a technology company that designs and develops hardware and software intended to help people connect, create, communicate and interact with digital devices. Its products are sold to consumers, businesses, educators, gamers, streamers and other professional users through retailers, online channels and business partners worldwide.

The company’s product portfolio includes computer mice and keyboards, webcams, headsets, microphones, speakers, presentation devices and accessories.