Logitech International (NASDAQ:LOGI) Price Target Cut to $93.00

Logitech International (NASDAQ:LOGI - Get Free Report) had its target price cut by research analysts at JPMorgan Chase & Co. from $98.00 to $93.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 15.61% from the stock's current price.

Several other research firms have also recently weighed in on LOGI. StockNews.com cut Logitech International from a "strong-buy" rating to a "buy" rating in a research report on Monday, July 22nd. Loop Capital increased their price objective on Logitech International from $87.00 to $88.00 and gave the company a "hold" rating in a research report on Wednesday, August 14th. Wedbush reissued a "neutral" rating and issued a $88.00 price objective on shares of Logitech International in a research report on Wednesday. Finally, Barclays reduced their price objective on Logitech International from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $94.00.

Logitech International Trading Down 4.2 %

Logitech International stock traded down $3.55 during trading hours on Wednesday, reaching $80.44. 1,637,813 shares of the company were exchanged, compared to its average volume of 492,020. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.47 and a beta of 0.79. The stock has a 50-day moving average of $87.70 and a 200 day moving average of $89.37. Logitech International has a 12 month low of $74.00 and a 12 month high of $102.59.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.20. The firm had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. As a group, research analysts forecast that Logitech International will post 3.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Logitech International during the second quarter valued at $35,000. Employees Retirement System of Texas bought a new position in shares of Logitech International during the second quarter valued at $63,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Logitech International by 139.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company's stock valued at $82,000 after acquiring an additional 495 shares during the period. Blue Trust Inc. lifted its holdings in shares of Logitech International by 2,036.8% during the second quarter. Blue Trust Inc. now owns 1,453 shares of the technology company's stock valued at $130,000 after acquiring an additional 1,385 shares during the period. Finally, Syquant Capital Sas bought a new position in shares of Logitech International during the second quarter valued at $184,000. 45.76% of the stock is 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.