Logitech International (NASDAQ:LOGI) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Logitech International (NASDAQ:LOGI) from an overweight rating to a neutral rating in a report published on Wednesday, MarketBeat.com reports. The firm currently has $85.00 price target on the technology company’s stock, down from their previous price target of $92.00.

LOGI has been the subject of several other research reports. Morgan Stanley reissued an underweight rating and issued a $75.00 price objective (down previously from $85.00) on shares of Logitech International in a report on Monday, April 15th. Barclays boosted their price target on shares of Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Wedbush reaffirmed a neutral rating and issued a $92.00 price objective on shares of Logitech International in a report on Tuesday, April 30th. Berenberg Bank initiated coverage on shares of Logitech International in a report on Thursday, March 14th. They set a buy rating and a $111.00 target price on the stock. Finally, Citigroup raised their price target on Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $91.00.

Logitech International Stock Up 0.4 %

LOGI opened at $82.09 on Wednesday. Logitech International has a twelve month low of $53.91 and a twelve month high of $96.66. The company’s 50-day moving average price is $86.37 and its two-hundred day moving average price is $86.63. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.65 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.55 by $0.34. Logitech International had a return on equity of 27.68% and a net margin of 14.24%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $956.85 million. As a group, sell-side analysts anticipate that Logitech International will post 3.67 earnings per share for the current year.

Insider Activity at Logitech International

In other Logitech International news, COO Prakash Arunkundrum sold 23,023 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $90.00, for a total value of $2,072,070.00. Following the transaction, the chief operating officer now directly owns 61,056 shares in the company, valued at approximately $5,495,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Samantha Harnett sold 650 shares of Logitech International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the completion of the sale, the insider now directly owns 11,910 shares of the company’s stock, valued at approximately $1,002,464.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prakash Arunkundrum sold 23,023 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $90.00, for a total value of $2,072,070.00. Following the completion of the transaction, the chief operating officer now directly owns 61,056 shares in the company, valued at approximately $5,495,040. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,572 shares of company stock valued at $2,207,555. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several hedge funds have recently added to or reduced their stakes in LOGI. Mediolanum International Funds Ltd bought a new stake in Logitech International in the 1st quarter worth approximately $3,569,000. Mutual of America Capital Management LLC bought a new stake in shares of Logitech International in the 1st quarter worth approximately $6,845,000. BNP Paribas Financial Markets boosted its stake in shares of Logitech International by 75.3% in the 1st quarter. BNP Paribas Financial Markets now owns 27,349 shares of the technology company’s stock valued at $2,444,000 after purchasing an additional 11,751 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of Logitech International during the 1st quarter valued at $658,000. Finally, Norden Group LLC purchased a new position in Logitech International in the 1st quarter worth $452,000. Institutional investors own 45.76% of the company’s stock.

About Logitech International

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.