Logitech International SA (NASDAQ:LOGI) announced a — dividend on Friday, September 6th, Wall Street Journal reports. Shareholders of record on Thursday, September 19th will be paid a dividend of 0.7446 per share by the technology company on Friday, September 20th. This represents a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 18th.
Logitech International has raised its dividend by an average of 24.9% per year over the last three years. Logitech International has a payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Logitech International to earn $2.02 per share next year, which means the company should continue to be able to cover its $0.67 annual dividend with an expected future payout ratio of 33.2%.
Logitech International stock traded up $0.31 during mid-day trading on Friday, hitting $41.64. 57,034 shares of the company traded hands, compared to its average volume of 133,891. Logitech International has a one year low of $29.06 and a one year high of $47.73. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.35 and a beta of 1.30. The stock has a fifty day moving average price of $39.96 and a 200-day moving average price of $39.03.
Several equities analysts recently issued reports on LOGI shares. ValuEngine raised Logitech International from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Maxim Group reissued a “hold” rating and set a $36.00 target price on shares of Logitech International in a research note on Wednesday, July 24th. Citigroup set a $46.00 target price on Logitech International and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. DA Davidson set a $58.00 target price on Logitech International and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Wedbush reissued a “buy” rating and set a $45.00 target price on shares of Logitech International in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Logitech International currently has a consensus rating of “Buy” and an average price target of $45.17.
Logitech International Company Profile
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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