JPMorgan Chase & Co. Issues Pessimistic Forecast for Logitech International (NASDAQ:LOGI) Stock Price

Logitech International (NASDAQ:LOGI - Get Free Report) had its target price lowered by JPMorgan Chase & Co. from $96.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 10.46% from the stock's current price.

Several other analysts have also issued reports on LOGI. Bank of America upgraded Logitech International from an "underperform" rating to a "neutral" rating and dropped their target price for the stock from $90.00 to $73.00 in a report on Friday, April 4th. Citigroup lowered their target price on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Wedbush upgraded shares of Logitech International from a "neutral" rating to an "outperform" rating and raised their target price for the company from $100.00 to $125.00 in a research note on Friday, March 7th. Finally, Kepler Capital Markets upgraded Logitech International from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $90.57.

Logitech International Price Performance

Shares of LOGI traded up $1.33 during midday trading on Thursday, hitting $72.42. The stock had a trading volume of 262,883 shares, compared to its average volume of 594,611. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The company has a 50 day simple moving average of $88.05 and a two-hundred day simple moving average of $86.45. Logitech International has a twelve month low of $64.73 and a twelve month high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued 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 net margin of 14.38% and a return on equity of 30.53%. Analysts forecast that Logitech International will post 4.21 EPS for the current fiscal year.

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

Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the sale, the insider now owns 7,348 shares of the company's stock, valued at $709,816.80. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Logitech International

A number of hedge funds and other institutional investors have recently made changes to their positions in LOGI. Wealth Enhancement Advisory Services LLC raised its holdings in Logitech International by 2.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company's stock valued at $507,000 after acquiring an additional 120 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Logitech International by 2.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company's stock worth $458,000 after purchasing an additional 127 shares during the period. Freedom Investment Management Inc. raised its stake in Logitech International by 4.1% in the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company's stock valued at $284,000 after purchasing an additional 136 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in Logitech International by 1.2% during the fourth quarter. Tealwood Asset Management Inc. now owns 14,952 shares of the technology company's stock worth $1,231,000 after purchasing an additional 175 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Logitech International by 16.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company's stock valued at $123,000 after buying an additional 213 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.

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.