Loop Capital Lowers Logitech International (NASDAQ:LOGI) Price Target to $78.00

Logitech International (NASDAQ:LOGI - Free Report) had its target price reduced by Loop Capital from $97.00 to $78.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a hold rating on the technology company's stock.

A number of other research firms have also recently issued reports on LOGI. JPMorgan Chase & Co. cut their price objective on Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Barclays dropped their price objective on Logitech International from $108.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. StockNews.com downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $73.00 to $92.00 in a research report on Thursday, January 23rd. Finally, Citigroup cut their target price on shares of Logitech International from $105.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $85.71.

Logitech International Trading Down 0.7 %

LOGI stock traded down $0.56 during trading on Tuesday, hitting $80.62. The company had a trading volume of 888,121 shares, compared to its average volume of 616,796. The company has a market cap of $12.75 billion, a P/E ratio of 18.92, a P/E/G ratio of 2.61 and a beta of 0.99. The company has a fifty day moving average price of $80.99 and a two-hundred day moving average price of $85.58. Logitech International has a fifty-two week low of $64.73 and a fifty-two week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS. On average, analysts expect that Logitech International will post 4.21 earnings per share for the current year.

Logitech International announced that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the technology company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Institutional Trading of Logitech International

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its stake in Logitech International by 4,876.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company's stock valued at $13,798,000 after acquiring an additional 164,185 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Logitech International by 5.7% in the fourth quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company's stock worth $28,913,000 after purchasing an additional 18,986 shares in the last quarter. US Bancorp DE raised its position in shares of Logitech International by 5.6% in the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company's stock valued at $687,000 after purchasing an additional 446 shares during the period. Barclays PLC raised its holdings in Logitech International by 64.2% during the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company's stock valued at $451,426,000 after acquiring an additional 1,967,133 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Logitech International during the fourth quarter worth $246,000. 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.