Logitech International S.A. (NASDAQ:LOGI) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC reduced its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 30.8% during the 4th quarter, HoldingsChannel reports. The firm owned 483,709 shares of the technology company’s stock after selling 215,719 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Logitech International were worth $40,046,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Barclays PLC grew its holdings in Logitech International by 64.2% in the 3rd quarter. Barclays PLC now owns 5,030,921 shares of the technology company’s stock valued at $451,426,000 after buying an additional 1,967,133 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Logitech International by 34.2% during the 4th quarter. Vontobel Holding Ltd. now owns 4,872,324 shares of the technology company’s stock valued at $402,802,000 after acquiring an additional 1,240,478 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Logitech International by 6.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,598,068 shares of the technology company’s stock valued at $215,127,000 after purchasing an additional 146,338 shares during the period. Pictet Asset Management Holding SA increased its position in Logitech International by 13.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,273,518 shares of the technology company’s stock worth $188,254,000 after purchasing an additional 266,167 shares during the last quarter. Finally, Norges Bank purchased a new position in Logitech International during the fourth quarter worth about $156,888,000. 45.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Logitech International

In related news, insider Samantha Harnett sold 300 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the sale, the insider now directly owns 7,348 shares in the company, valued at approximately $709,816.80. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

Logitech International Stock Performance

NASDAQ LOGI opened at $69.30 on Friday. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.61 and a beta of 0.97. The firm has a 50 day simple moving average of $95.10 and a 200-day simple moving average of $87.90. Logitech International S.A. has a one year low of $67.20 and a one year high of $105.65.

Logitech International (NASDAQ:LOGI) last issued its quarterly earnings results on Tuesday, January 28th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.35 by $0.07. Logitech International had a net margin of 14.38% and a return on equity of 30.53%. Equities analysts predict that Logitech International S.A. will post 4.21 EPS for the current fiscal year.

Logitech International declared that its board has approved 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 often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

LOGI has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Logitech International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $73.00 to $92.00 in a report on Thursday, January 23rd. Wedbush upgraded Logitech International from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $100.00 to $125.00 in a research report on Friday, March 7th. Barclays raised their price objective on Logitech International from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised shares of Logitech International from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Citigroup lifted their price target on shares of Logitech International from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.71.

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.