Grantham Mayo Van Otterloo & Co. LLC Lowers Stake in Logitech International S.A. $LOGI

Key Points

• Grantham Mayo Van Otterloo & Co. LLC reduced its Logitech stake by 25.8% in Q3, selling 58,532 shares and leaving it with 168,741 shares worth about $18.4 million (≈0.11% of the company).
• Logitech beat Q4 estimates with EPS of $1.93 (vs. $1.78) and revenue of $1.42 billion, and the stock—market cap ~$14.6B—carries an average analyst rating of "Hold" with a $102.13 target amid mixed upgrades and downgrades.

Grantham Mayo Van Otterloo & Co. LLC lessened its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,741 shares of the technology company's stock after selling 58,532 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.11% of Logitech International worth $18,404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LOGI. AQR Capital Management LLC grew its stake in Logitech International by 61.2% in the 1st quarter. AQR Capital Management LLC now owns 4,175 shares of the technology company's stock worth $352,000 after acquiring an additional 1,585 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Logitech International by 3.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 113,261 shares of the technology company's stock worth $10,208,000 after purchasing an additional 3,545 shares during the period. ProShare Advisors LLC lifted its stake in shares of Logitech International by 36.5% during the 2nd quarter. ProShare Advisors LLC now owns 12,391 shares of the technology company's stock worth $1,112,000 after purchasing an additional 3,316 shares during the period. Vise Technologies Inc. acquired a new stake in shares of Logitech International during the second quarter worth $329,000. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Logitech International by 31.6% during the second quarter. Jupiter Asset Management Ltd. now owns 713,509 shares of the technology company's stock worth $64,037,000 after purchasing an additional 171,307 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company's stock.

Logitech International Stock Up 2.4%

LOGI stock opened at $92.18 on Monday. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 3.38 and a beta of 1.09. The business has a fifty day simple moving average of $93.03 and a 200-day simple moving average of $104.68. Logitech International S.A. has a 52 week low of $64.73 and a 52 week high of $123.01.

Logitech International (NASDAQ:LOGI - Get Free Report) last issued its earnings results on Tuesday, January 27th. The technology company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.15. Logitech International had a return on equity of 33.57% and a net margin of 14.94%.The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts expect that Logitech International S.A. will post 4.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LOGI has been the subject of several analyst reports. Morgan Stanley reiterated an "underweight" rating and issued a $89.00 target price (down from $107.00) on shares of Logitech International in a research note on Tuesday, January 20th. BNP Paribas Exane lowered Logitech International from an "outperform" rating to a "neutral" rating and set a $106.00 price target on the stock. in a research note on Thursday, January 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Logitech International in a report on Thursday, January 22nd. Citigroup dropped their price objective on shares of Logitech International from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, January 20th. Finally, Zacks Research lowered shares of Logitech International from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $102.13.

Logitech International Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company's product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.

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