JPMorgan Chase & Co. Lowers Logitech International (NASDAQ:LOGI) to Neutral

JPMorgan Chase & Co. lowered shares of Logitech International (NASDAQ:LOGI) from an overweight rating to a neutral rating in a report released on Wednesday morning, MarketBeat reports. They currently have $85.00 target price on the technology company’s stock, down from their prior target price of $92.00.

A number of other equities research analysts have also recently commented on LOGI. Citigroup lifted their target price on Logitech International from $98.00 to $100.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Barclays raised their price objective on shares of Logitech International from $96.00 to $104.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft restated a sell rating on shares of Logitech International in a research report on Tuesday, April 16th. Berenberg Bank initiated coverage on Logitech International in a research report on Thursday, March 14th. They issued a buy rating and a $111.00 price objective on the stock. Finally, Wedbush restated a neutral rating and set a $92.00 target price on shares of Logitech International in a research report on Tuesday. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $91.00.

Logitech International Stock Performance

Shares of LOGI opened at $82.09 on Wednesday. The stock has a 50 day moving average price of $86.52 and a two-hundred day moving average price of $86.46. The firm has a market capitalization of $12.98 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.56 and a beta of 0.78. Logitech International has a 52 week low of $53.91 and a 52 week high of $96.66.

Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, April 29th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.34. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. Logitech International had a return on equity of 27.68% and a net margin of 14.24%. On average, equities analysts forecast that Logitech International will post 3.67 earnings per share for the current year.

Insider Activity

In related news, CFO Charles D. Boynton bought 1,225 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $81.27 per share, with a total value of $99,555.75. Following the purchase, the chief financial officer now owns 1,225 shares in the company, valued at approximately $99,555.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Charles D. Boynton bought 1,225 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $81.27 per share, with a total value of $99,555.75. Following the purchase, the chief financial officer now owns 1,225 shares in the company, valued at approximately $99,555.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prakash Arunkundrum sold 23,023 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 61,056 shares of the company’s stock, valued at approximately $5,495,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,572 shares of company stock valued at $2,207,555. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mediolanum International Funds Ltd purchased a new stake in Logitech International in the 1st quarter worth approximately $3,569,000. Mutual of America Capital Management LLC purchased a new stake in Logitech International in the 1st quarter worth approximately $6,845,000. BNP Paribas Financial Markets lifted its holdings in Logitech International by 75.3% in the 1st quarter. BNP Paribas Financial Markets now owns 27,349 shares of the technology company’s stock worth $2,444,000 after buying an additional 11,751 shares during the period. Diversify Advisory Services LLC purchased a new stake in Logitech International in the 1st quarter worth approximately $658,000. Finally, Norden Group LLC purchased a new position in shares of Logitech International in the 1st quarter valued at approximately $452,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

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.