Logitech International (NASDAQ:LOGI) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Logitech International (NASDAQ:LOGI) had its target price trimmed by JPMorgan Chase & Co. from $102.00 to $94.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Wedbush cut their target price on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Barclays reduced their target price on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Morgan Stanley lowered their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Logitech International presently has an average rating of “Hold” and an average price target of $104.14.

Logitech International Stock Performance

LOGI stock opened at $105.16 on Tuesday. The company has a market capitalization of $15.42 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 3.67 and a beta of 1.14. Logitech International has a fifty-two week low of $83.32 and a fifty-two week high of $129.66. The stock has a fifty day moving average of $101.08 and a 200-day moving average of $102.35.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings data 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 return on equity of 37.30% and a net margin of 16.28%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm posted $1.26 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts predict that Logitech International will post 5.26 EPS for the current year.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 16,265 shares of Logitech International stock in a transaction on Friday, September 11th. The stock was sold at an average price of $101.35, for a total value of $1,648,457.75. Following the completion of the transaction, the insider directly owned 37,097 shares in the company, valued at approximately $3,759,780.95. The trade was a 30.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is owned by insiders.

Institutional Trading of Logitech International

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

Logitech International Company Profile

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.