Logitech International (NASDAQ:LOGI) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Logitech International (NASDAQ:LOGI) from an overweight rating to a neutral rating in a report released on Wednesday, MarketBeat.com reports. They currently have $85.00 price target on the technology company’s stock, down from their previous price target of $92.00.

Several other equities research analysts have also commented on LOGI. Wedbush restated a neutral rating and issued a $92.00 price objective on shares of Logitech International in a research note on Tuesday, April 30th. Morgan Stanley reaffirmed an underweight rating and issued a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft reiterated a sell rating on shares of Logitech International in a research note on Tuesday, April 16th. Barclays raised their target price on shares of Logitech International from $96.00 to $104.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. Finally, Berenberg Bank started coverage on shares of Logitech International in a research report on Thursday, March 14th. They issued a buy rating and a $111.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $91.00.

Logitech International Stock Performance

Shares of NASDAQ:LOGI opened at $82.09 on Wednesday. The stock’s 50-day simple moving average is $86.37 and its two-hundred day simple moving average is $86.63. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.65 and a beta of 0.78. Logitech International has a 52-week low of $53.91 and a 52-week high of $96.66.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a net margin of 14.24% and a return on equity of 27.68%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. As a group, equities analysts forecast that Logitech International will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the sale, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,070.00. Following the completion of the transaction, the chief operating officer now owns 61,056 shares in the company, valued at approximately $5,495,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles D. Boynton acquired 1,225 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $81.27 per share, for a total transaction of $99,555.75. Following the completion of the acquisition, the chief financial officer now directly owns 1,225 shares in the company, valued at $99,555.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 24,572 shares of company stock valued at $2,207,555. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Logitech International

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Logitech International in the fourth quarter worth about $214,130,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Logitech International by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,822,286 shares of the technology company’s stock valued at $267,457,000 after purchasing an additional 760,263 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Logitech International by 1,932.5% in the first quarter. Assenagon Asset Management S.A. now owns 480,655 shares of the technology company’s stock worth $43,098,000 after buying an additional 457,006 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Logitech International by 317.8% during the third quarter. Acadian Asset Management LLC now owns 546,851 shares of the technology company’s stock worth $37,817,000 after buying an additional 415,950 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Logitech International by 20.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,837,505 shares of the technology company’s stock valued at $174,162,000 after acquiring an additional 306,948 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.