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

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

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

Logitech International Price Performance

Shares of NASDAQ:LOGI opened at $80.96 on Wednesday. Logitech International has a one year low of $74.72 and a one year high of $102.59. The company has a 50 day moving average of $87.38 and a 200-day moving average of $89.25. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 20.92, a P/E/G ratio of 2.47 and a beta of 0.79.

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

Institutional Investors Weigh In On Logitech International

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Logitech International by 86.4% in the 1st quarter. Russell Investments Group Ltd. now owns 552,038 shares of the technology company’s stock valued at $49,349,000 after acquiring an additional 255,828 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Logitech International by 76.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,841 shares of the technology company’s stock valued at $4,373,000 after acquiring an additional 21,106 shares in the last quarter. Hsbc Holdings PLC lifted its position in Logitech International by 380.7% in the 2nd quarter. Hsbc Holdings PLC now owns 122,926 shares of the technology company’s stock valued at $11,883,000 after acquiring an additional 97,353 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Logitech International by 166.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,279,414 shares of the technology company’s stock valued at $123,759,000 after acquiring an additional 798,759 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in Logitech International by 2,085.3% in the 2nd quarter. Toronto Dominion Bank now owns 63,439 shares of the technology company’s stock valued at $6,146,000 after acquiring an additional 60,536 shares in the last quarter. 45.76% of the stock is owned by institutional investors.

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.