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

Logitech International (NASDAQ:LOGI) had its price target dropped by research analysts at Loop Capital from $97.00 to $78.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Loop Capital’s target price suggests a potential downside of 0.06% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Barclays decreased their target price on Logitech International from $108.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Kepler Capital Markets raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Wedbush reiterated an “outperform” rating and set a $110.00 target price (down from $125.00) on shares of Logitech International in a research report on Thursday, April 24th. Finally, Morgan Stanley raised shares of Logitech International from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $73.00 to $92.00 in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Logitech International has a consensus rating of “Hold” and an average target price of $85.71.

Logitech International Price Performance

Shares of NASDAQ LOGI opened at $78.05 on Tuesday. Logitech International has a 1 year low of $64.73 and a 1 year high of $105.65. The company’s 50-day moving average is $82.54 and its 200 day moving average is $85.76. The stock has a market capitalization of $12.34 billion, a P/E ratio of 18.32, a P/E/G ratio of 2.61 and a beta of 0.99.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. Research analysts anticipate that Logitech International will post 4.21 earnings per share for the current year.

Logitech International declared that its board has approved a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Logitech International

Several institutional investors and hedge funds have recently modified their holdings of LOGI. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Logitech International by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,161 shares of the technology company’s stock worth $507,000 after purchasing an additional 120 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Logitech International by 2.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,556 shares of the technology company’s stock valued at $458,000 after buying an additional 127 shares during the period. Freedom Investment Management Inc. raised its position in Logitech International by 4.1% during the fourth quarter. Freedom Investment Management Inc. now owns 3,444 shares of the technology company’s stock valued at $284,000 after acquiring an additional 136 shares in the last quarter. Tealwood Asset Management Inc. grew its stake in shares of Logitech International by 1.2% during the 4th 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 grew its position in shares of Logitech International by 16.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,494 shares of the technology company’s stock valued at $123,000 after acquiring an additional 213 shares during the period. Institutional investors own 45.76% of the company’s stock.

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.