Arrowstreet Capital Limited Partnership Sells 956,466 Shares of Logitech International S.A. (NASDAQ:LOGI)

Arrowstreet Capital Limited Partnership lowered its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 41.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,363,408 shares of the technology company's stock after selling 956,466 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.86% of Logitech International worth $112,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Logitech International by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,211 shares of the technology company's stock worth $1,455,000 after buying an additional 1,206 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Logitech International by 63.4% during the 3rd quarter. Cerity Partners LLC now owns 5,125 shares of the technology company's stock valued at $460,000 after acquiring an additional 1,989 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Logitech International by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 67,199 shares of the technology company's stock valued at $6,041,000 after acquiring an additional 392 shares in the last quarter. Townsquare Capital LLC increased its stake in Logitech International by 3.0% in the third quarter. Townsquare Capital LLC now owns 7,632 shares of the technology company's stock valued at $685,000 after acquiring an additional 225 shares during the period. Finally, Public Sector Pension Investment Board raised its position in Logitech International by 23.4% in the third quarter. Public Sector Pension Investment Board now owns 80,790 shares of the technology company's stock worth $7,237,000 after purchasing an additional 15,340 shares in the last quarter. 45.76% of the stock is currently owned by institutional investors.

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Insider Activity at Logitech International

In other Logitech International news, insider Samantha Harnett sold 300 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $96.60, for a total transaction of $28,980.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LOGI shares. Deutsche Bank Aktiengesellschaft upgraded Logitech International from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley upgraded Logitech International from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $73.00 to $92.00 in a research note on Thursday, January 23rd. Wedbush upgraded shares of Logitech International from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $100.00 to $125.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their target price 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. 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 report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $100.14.

Logitech International Stock Performance

Shares of NASDAQ LOGI traded up $0.61 during trading on Tuesday, reaching $85.02. The company had a trading volume of 555,547 shares, compared to its average volume of 547,480. Logitech International S.A. has a 52 week low of $74.72 and a 52 week high of $105.65. The business's 50 day moving average price is $95.98 and its 200-day moving average price is $88.15. The stock has a market cap of $13.45 billion, a PE ratio of 19.96, a PEG ratio of 2.61 and a beta of 0.73.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The technology company reported $1.42 earnings per share (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%. Equities analysts anticipate that Logitech International S.A. will post 4.21 earnings per share for the current year.

Logitech International declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 5th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Logitech International 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.