JPMorgan Chase & Co. Has Lowered Expectations for Logitech International (NASDAQ:LOGI) Stock Price

Logitech International (NASDAQ:LOGI) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $120.00 to $102.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.31% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Bank of America downgraded Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research report on Tuesday, June 30th. Wall Street Zen lowered Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Wedbush cut their price target on Logitech International from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, Barclays reduced their price objective on shares of Logitech International from $105.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Logitech International currently has an average rating of “Hold” and a consensus target price of $105.29.

Logitech International Price Performance

NASDAQ LOGI traded down $4.52 on Thursday, hitting $95.95. 685,261 shares of the stock were exchanged, compared to its average volume of 1,156,509. The business’s fifty day moving average is $102.88 and its 200 day moving average is $99.50. Logitech International has a 52 week low of $83.32 and a 52 week high of $129.66. The company has a market capitalization of $14.07 billion, a PE ratio of 17.61, a P/E/G ratio of 3.61 and a beta of 1.17.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that Logitech International will post 5.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Logitech International by 61.2% in the first quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company’s stock valued at $352,000 after acquiring an additional 1,585 shares during the period. Rhumbline Advisers increased its position in Logitech International by 3.3% during the second quarter. Rhumbline Advisers now owns 4,732 shares of the technology company’s stock worth $426,000 after acquiring an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Logitech International by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after acquiring an additional 165 shares during the period. EverSource Wealth Advisors LLC raised its stake in Logitech International by 13.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,779 shares of the technology company’s stock worth $160,000 after purchasing an additional 206 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in 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 purchasing an additional 126 shares in the last quarter. 45.76% of the stock is owned by institutional investors and hedge funds.

About Logitech International

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.