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

Logitech International (NASDAQ:LOGI - Get Free Report) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $96.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 12.53% from the stock's current price.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley raised Logitech International from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and cut their price target for the company from $90.00 to $73.00 in a research note on Friday, April 4th. Wedbush upgraded shares of Logitech International from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $100.00 to $125.00 in a research note on Friday, March 7th. Citigroup cut their target price on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Barclays lifted their price target on shares of Logitech International from $103.00 to $108.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Logitech International presently has a consensus rating of "Hold" and a consensus price target of $90.57.

Logitech International Trading Down 0.8 %

Shares of LOGI stock traded down $0.54 during midday trading on Thursday, reaching $71.09. 386,679 shares of the stock were exchanged, compared to its average volume of 595,310. The firm has a market cap of $11.24 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The company's 50 day moving average is $88.64 and its two-hundred day moving average is $86.56. Logitech International has a 1 year low of $64.73 and a 1 year high of $105.65.

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

Logitech International announced that its board has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Logitech International

In other 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 transaction of $28,980.00. Following the transaction, the insider now owns 7,348 shares in the company, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new stake in shares of Logitech International in the 4th quarter worth approximately $26,000. Sierra Ocean LLC purchased a new position in shares of Logitech International in the 4th quarter valued at $27,000. Bessemer Group Inc. raised its position in shares of 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 acquiring an additional 308 shares in the last quarter. Exane Asset Management purchased a new stake in shares of Logitech International during the 4th quarter worth $32,000. Finally, Tower Research Capital LLC TRC grew its stake in Logitech International by 975.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock valued at $40,000 after purchasing an additional 439 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 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.