Logitech International (NASDAQ:LOGI) Price Target Cut to $103.00

Logitech International (NASDAQ:LOGI) had its price objective reduced by equities researchers at Barclays from $105.00 to $103.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 27.22% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Loop Capital boosted their price target on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. StockNews.com lowered shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Wedbush restated a “neutral” rating and set a $88.00 price objective on shares of Logitech International in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Logitech International currently has an average rating of “Hold” and a consensus price target of $94.00.

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $80.96 on Wednesday. The company’s 50-day moving average price is $87.38 and its two-hundred day moving average price is $89.25. Logitech International has a one year low of $74.72 and a one year high of $102.59. The stock has a market capitalization of $12.80 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.47 and a beta of 0.79.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.03 billion. On average, analysts anticipate that Logitech International will post 3.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LOGI. Wellington Management Group LLP grew its position in shares of Logitech International by 354.9% during the 4th quarter. Wellington Management Group LLP now owns 43,250 shares of the technology company’s stock worth $4,099,000 after purchasing an additional 33,742 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Logitech International during the 1st quarter worth approximately $680,000. Capital Insight Partners LLC grew its position in shares of Logitech International by 8.9% during the 1st quarter. Capital Insight Partners LLC now owns 44,874 shares of the technology company’s stock worth $4,010,000 after purchasing an additional 3,685 shares in the last quarter. Claro Advisors LLC grew its position in shares of Logitech International by 6.2% during the 1st quarter. Claro Advisors LLC now owns 2,241 shares of the technology company’s stock worth $200,000 after purchasing an additional 131 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Logitech International by 0.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 37,008 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Company Profile

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.