Logitech International SA (NASDAQ:LOGI) announced an annual dividend on Monday, January 1st, NASDAQ reports. Stockholders of record on Monday, January 1st will be given a dividend of 0.522 per share by the technology company on Monday, January 1st. This represents a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, September 18th.
Logitech International has increased its dividend payment by 31.0% over the last three years.
NASDAQ:LOGI traded up $0.32 during mid-day trading on Wednesday, reaching $71.35. The stock had a trading volume of 4,269 shares, compared to its average volume of 457,807. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 25.37 and a beta of 0.98. Logitech International has a 1-year low of $31.37 and a 1-year high of $76.53. The stock’s 50 day simple moving average is $72.52 and its two-hundred day simple moving average is $57.56.
Logitech International (NASDAQ:LOGI) last released its earnings results on Monday, July 20th. The technology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.36. Logitech International had a return on equity of 25.91% and a net margin of 15.25%. The company had revenue of $791.89 million for the quarter, compared to the consensus estimate of $706.14 million. As a group, analysts predict that Logitech International will post 2.25 EPS for the current fiscal year.
In related news, CEO Bracken Darrell sold 120,650 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $73.61, for a total value of $8,881,046.50. Corporate insiders own 1.10% of the company’s stock.
A number of analysts have weighed in on LOGI shares. Citigroup increased their target price on shares of Logitech International from $73.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. cut shares of Logitech International from an “overweight” rating to a “neutral” rating and set a $57.00 target price on the stock. in a report on Thursday, May 21st. They noted that the move was a valuation call. UBS Group upgraded Logitech International from a “sell” rating to a “neutral” rating in a research note on Wednesday, May 20th. Loop Capital increased their price target on Logitech International from $58.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Zacks Investment Research downgraded Logitech International from a “strong-buy” rating to a “hold” rating and set a $69.00 price target on the stock. in a report on Tuesday, July 7th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.79.
Logitech International declared that its board has approved a share repurchase program on Wednesday, May 27th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
About Logitech International
Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that allow people to connect through music, gaming, video, computing, and other digital platforms worldwide. The company offers portable wireless Bluetooth and Wi-Fi speakers, PC speakers, PC headsets, in-ear headphones, and wireless audio wearables; gaming mice, keyboards, headsets, mousepads, and steering wheels and flight sticks; and audio and video, and other products that connect small and medium sized user groups.
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