Citigroup Lowers Logitech International (NASDAQ:LOGI) Price Target to $75.00

Logitech International (NASDAQ:LOGI) had its target price decreased by Citigroup from $105.00 to $75.00 in a research report report published on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Logitech International from $99.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Morgan Stanley raised Logitech International from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Wedbush raised Logitech International from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $125.00 in a research note on Friday, March 7th. Barclays upped their price objective on Logitech International from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Logitech International presently has a consensus rating of “Hold” and a consensus price target of $93.43.

Logitech International Stock Performance

Logitech International stock opened at $73.47 on Monday. The stock has a fifty day moving average of $90.88 and a 200-day moving average of $86.99. The stock has a market capitalization of $11.62 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Logitech International has a 52 week low of $64.73 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.35 by $0.07. Logitech International had a return on equity of 30.53% and a net margin of 14.38%. On average, research analysts forecast that Logitech International will post 4.21 earnings per share for the current year.

Logitech International declared that its board has initiated a stock repurchase program on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Logitech International

In other news, insider Samantha Harnett sold 300 shares of Logitech International stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $96.60, for a total value of $28,980.00. Following the completion of the transaction, the insider now directly owns 7,348 shares of the company’s stock, valued at approximately $709,816.80. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Logitech International

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its stake in Logitech International by 4,876.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 167,552 shares of the technology company’s stock valued at $13,798,000 after buying an additional 164,185 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Logitech International by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company’s stock valued at $1,455,000 after acquiring an additional 1,206 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Logitech International by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 351,097 shares of the technology company’s stock worth $28,913,000 after acquiring an additional 18,986 shares in the last quarter. US Bancorp DE grew its holdings in Logitech International by 5.6% in the fourth quarter. US Bancorp DE now owns 8,344 shares of the technology company’s stock worth $687,000 after purchasing an additional 446 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Logitech International in the third quarter valued at $12,597,000. Institutional investors 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.