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

Logitech International (NASDAQ:LOGI) had its price target decreased by JPMorgan Chase & Co. from $96.00 to $80.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on the company. Kepler Capital Markets upgraded Logitech International from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $100.00 to $125.00 in a research note on Friday, March 7th. Bank of America raised Logitech International from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $90.00 to $73.00 in a research report on Friday, April 4th. StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Barclays raised their price objective on shares of Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.57.

Logitech International Trading Up 2.1 %

NASDAQ LOGI opened at $71.63 on Thursday. The business has a fifty day simple moving average of $89.20 and a 200 day simple moving average of $86.65. Logitech International has a 12 month low of $64.73 and a 12 month high of $105.65. The firm has a market capitalization of $11.33 billion, a P/E ratio of 16.81, a PEG ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating 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, sell-side analysts predict that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International declared that its board has authorized a stock repurchase program on Wednesday, March 5th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the transaction, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Logitech International

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

About Logitech International

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.