Logitech International (NASDAQ:LOGI) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Logitech International (NASDAQ:LOGI) from an overweight rating to a neutral rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has $85.00 price target on the technology company’s stock, down from their prior price target of $92.00.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Logitech International from a strong-buy rating to a buy rating in a research note on Thursday, March 14th. Morgan Stanley restated an underweight rating and issued a $75.00 price target (down from $85.00) on shares of Logitech International in a research report on Monday, April 15th. Citigroup boosted their price objective on shares of Logitech International from $98.00 to $100.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft restated a sell rating on shares of Logitech International in a report on Tuesday, April 16th. Finally, Barclays upped their price target on shares of Logitech International from $96.00 to $104.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $91.00.

Logitech International Trading Up 0.4 %

Shares of Logitech International stock opened at $82.09 on Wednesday. The stock has a 50 day moving average of $86.52 and a 200 day moving average of $86.46. Logitech International has a 12 month low of $53.91 and a 12 month high of $96.66. The firm has a market cap of $12.98 billion, a PE ratio of 21.21, a PEG ratio of 2.56 and a beta of 0.78.

Logitech International (NASDAQ:LOGI) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.34. Logitech International had a return on equity of 27.68% and a net margin of 14.24%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $956.85 million. As a group, equities research analysts forecast that Logitech International will post 3.67 earnings per share for the current fiscal year.

Insider Activity at Logitech International

In other news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $84.17, for a total transaction of $54,710.50. Following the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at $1,002,464.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Logitech International news, insider Samantha Harnett sold 650 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $84.17, for a total transaction of $54,710.50. Following the transaction, the insider now directly owns 11,910 shares in the company, valued at approximately $1,002,464.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Prakash Arunkundrum sold 699 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $90.00, for a total value of $62,910.00. Following the completion of the sale, the chief operating officer now owns 67,848 shares of the company’s stock, valued at $6,106,320. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock worth $2,207,555 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOGI. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Logitech International in the 4th quarter worth approximately $33,000. Global Retirement Partners LLC boosted its stake in shares of Logitech International by 764.4% during the first quarter. Global Retirement Partners LLC now owns 389 shares of the technology company’s stock valued at $35,000 after purchasing an additional 344 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Logitech International by 65.6% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 168 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Logitech International by 529.4% during the fourth quarter. National Bank of Canada FI now owns 428 shares of the technology company’s stock valued at $40,000 after purchasing an additional 360 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Logitech International during the first quarter valued at approximately $42,000. 45.76% of the stock is currently owned by institutional investors.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.