Logitech International (NASDAQ:LOGI) Price Target Cut to $75.00 by Analysts at Citigroup

Logitech International (NASDAQ:LOGI - Get Free Report) had its price target dropped by equities researchers at Citigroup from $105.00 to $75.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. Citigroup's target price points to a potential upside of 4.70% from the company's current price.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of Logitech International from $99.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Kepler Capital Markets upgraded shares of Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. Finally, Wedbush raised Logitech International from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $100.00 to $125.00 in a report on Friday, March 7th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $90.57.

Logitech International Price Performance

LOGI traded up $1.50 on Monday, hitting $71.63. The company had a trading volume of 524,868 shares, compared to its average volume of 595,212. Logitech International has a 52-week low of $64.73 and a 52-week high of $105.65. The stock has a fifty day simple moving average of $88.64 and a 200-day simple moving average of $86.55. The firm has a market capitalization of $11.33 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.61 and a beta of 0.97.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. Equities research analysts expect that Logitech International will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its Board of Directors has approved a share buyback plan on Wednesday, March 5th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the transaction, the insider now directly owns 7,348 shares of the company's stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Banque Transatlantique SA bought a new stake in Logitech International during the 4th quarter worth approximately $26,000. Sierra Ocean LLC bought a new stake in shares of Logitech International during the 4th quarter valued at $27,000. Bessemer Group Inc. boosted its holdings in Logitech International by 1,339.1% in the 4th quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after buying an additional 308 shares during the period. Exane Asset Management purchased a new stake in Logitech International in the 4th quarter worth $32,000. Finally, Tower Research Capital LLC TRC raised its holdings in Logitech International by 975.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock valued at $40,000 after acquiring an additional 439 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Company Profile

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.