Logitech International (NASDAQ:LOGI) Given New $120.00 Price Target at JPMorgan Chase & Co.

Logitech International (NASDAQ:LOGI) had its target price cut by JPMorgan Chase & Co. from $123.00 to $120.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other analysts have also commented on LOGI. Morgan Stanley reduced their price target on shares of Logitech International from $89.00 to $88.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Barclays lowered their price objective 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. Wedbush dropped their target price on shares of Logitech International from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday. Bank of America downgraded shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 target price for the company. in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Logitech International currently has a consensus rating of “Hold” and a consensus price target of $107.86.

Logitech International Price Performance

Logitech International stock opened at $102.48 on Friday. Logitech International has a one year low of $83.32 and a one year high of $129.66. The stock has a market capitalization of $15.02 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 3.73 and a beta of 1.17. The business’s fifty day moving average is $106.05 and its 200 day moving average is $98.54.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.26 by $0.59. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Logitech International had a return on equity of 37.30% and a net margin of 16.28%.Logitech International’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. As a group, sell-side analysts expect that Logitech International will post 5.21 EPS for the current fiscal year.

Logitech International Cuts Dividend

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

Hedge Funds Weigh In On Logitech International

Several institutional investors have recently made changes to their positions in LOGI. Quarry LP bought a new stake in Logitech International during the third quarter valued at approximately $30,000. CIBC Private Wealth Group LLC increased its holdings in Logitech International by 61.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after buying an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Logitech International by 40.1% in 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. Richardson Financial Services Inc. raised its position in Logitech International by 101.5% in the fourth quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after acquiring an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Logitech International by 911.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after acquiring an additional 611 shares during the last quarter. 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.