Grantham Mayo Van Otterloo & Co. LLC Trims Holdings in Logitech International S.A. (NASDAQ:LOGI)

Grantham Mayo Van Otterloo & Co. LLC cut its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 30.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 483,709 shares of the technology company's stock after selling 215,719 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.31% of Logitech International worth $40,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd acquired a new position in Logitech International in the 4th quarter worth about $49,000. Prudential PLC grew its holdings in Logitech International by 3.2% during the 4th quarter. Prudential PLC now owns 34,991 shares of the technology company's stock worth $2,893,000 after acquiring an additional 1,070 shares during the period. Landscape Capital Management L.L.C. lifted its stake in Logitech International by 40.9% in the fourth quarter. Landscape Capital Management L.L.C. now owns 37,256 shares of the technology company's stock valued at $3,068,000 after buying an additional 10,817 shares during the period. Trexquant Investment LP bought a new position in shares of Logitech International during the 4th quarter worth approximately $5,001,000. Finally, Geode Capital Management LLC grew its holdings in Logitech International by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 130,019 shares of the technology company's stock worth $10,707,000 after purchasing an additional 1,140 shares during the period. 45.76% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

LOGI has been the topic of a number of research analyst reports. Morgan Stanley raised shares of 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 report on Thursday, January 23rd. Citigroup increased their price target on Logitech International from $92.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Kepler Capital Markets upgraded Logitech International from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. StockNews.com downgraded shares of Logitech International from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Logitech International from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Logitech International has a consensus rating of "Hold" and a consensus price target of $97.71.

Logitech International Stock Down 6.0 %

LOGI stock traded down $4.44 during trading on Thursday, reaching $69.76. The stock had a trading volume of 900,285 shares, compared to its average volume of 585,784. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 2.61 and a beta of 0.97. Logitech International S.A. has a one year low of $64.73 and a one year high of $105.65. The company's 50 day moving average is $92.48 and its two-hundred day moving average is $87.31.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its earnings results on Tuesday, January 28th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts predict that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Logitech International announced that its board has initiated a stock repurchase 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Logitech International news, insider Samantha Harnett sold 300 shares of the firm's stock in a transaction on 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 sale, the insider now directly owns 7,348 shares of the company's stock, valued at $709,816.80. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company's stock.

About Logitech International

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.