JPMorgan Chase & Co. Boosts Logitech International (NASDAQ:LOGI) Price Target to $104.00

Logitech International (NASDAQ:LOGI - Get Free Report) had its price target raised by JPMorgan Chase & Co. from $80.00 to $104.00 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 price objective points to a potential upside of 8.64% from the company's current price.

A number of other research firms have also weighed in on LOGI. UBS Group raised Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and issued a $100.00 target price on shares of Logitech International in a report on Wednesday, May 21st. Citigroup lifted their target price on Logitech International from $85.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Barclays reduced their target price on Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Bank of America raised Logitech International from an "underperform" rating to a "neutral" rating and reduced their target price for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $91.29.

Logitech International Price Performance

LOGI stock traded up $0.04 on Thursday, reaching $95.73. 165,152 shares of the company traded hands, compared to its average volume of 636,378. Logitech International has a one year low of $64.73 and a one year high of $105.65. The company has a market cap of $15.14 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 19.39 and a beta of 0.96. The firm has a fifty day simple moving average of $87.55 and a 200-day simple moving average of $87.60.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $0.99 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Logitech International will post 4.21 EPS for the current year.

Hedge Funds Weigh In On Logitech International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Logitech International by 1.0% during the first quarter. Vanguard Group Inc. now owns 6,412,308 shares of the technology company's stock valued at $543,347,000 after purchasing an additional 66,175 shares in the last quarter. Barclays PLC lifted its position in Logitech International by 8.2% during the fourth quarter. Barclays PLC now owns 5,445,157 shares of the technology company's stock valued at $448,409,000 after purchasing an additional 414,236 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Logitech International by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,207,416 shares of the technology company's stock valued at $355,148,000 after purchasing an additional 59,150 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Logitech International by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,148,266 shares of the technology company's stock valued at $341,610,000 after purchasing an additional 85,278 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Logitech International by 13.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company's stock valued at $188,254,000 after acquiring an additional 266,167 shares in the last quarter. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

About Logitech International

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.

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