JPMorgan Chase & Co. Cuts Logitech International (NASDAQ:LOGI) Price Target to $102.00

Logitech International (NASDAQ:LOGI) had its price target cut by JPMorgan Chase & Co. from $120.00 to $102.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other analysts have also recently weighed in on the stock. Wedbush cut their price target on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Sunday, April 26th. Citigroup lifted their target price on shares of Logitech International from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Barclays reduced their price target on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Logitech International currently has a consensus rating of “Hold” and a consensus target price of $105.29.

Logitech International Stock Performance

NASDAQ LOGI opened at $96.03 on Thursday. Logitech International has a fifty-two week low of $83.32 and a fifty-two week high of $129.66. The stock has a 50 day simple moving average of $102.29 and a two-hundred day simple moving average of $99.54. The stock has a market cap of $14.08 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 3.53 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.59. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. Sell-side analysts predict that Logitech International will post 5.15 earnings per share for the current year.

Logitech International Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be paid a $1.36 dividend. This represents a yield of 126.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Hedge Funds Weigh In On Logitech International

Institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its holdings in shares of Logitech International by 15.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock valued at $86,000 after buying an additional 114 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of Logitech International by 0.7% in the 3rd quarter. Pathstone Holdings LLC now owns 16,521 shares of the technology company’s stock worth $1,812,000 after acquiring an additional 120 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Logitech International by 1.3% in the 2nd quarter. Guggenheim Capital LLC now owns 10,182 shares of the technology company’s stock worth $918,000 after acquiring an additional 126 shares in the last quarter. Corient Private Wealth LLC lifted its position in Logitech International by 1.2% during the 2nd quarter. Corient Private Wealth LLC now owns 10,775 shares of the technology company’s stock valued at $971,000 after acquiring an additional 126 shares during the period. Finally, Fifth Third Bancorp lifted its position in Logitech International by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock valued at $82,000 after acquiring an additional 145 shares during the period. Institutional investors own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.