Logitech International SA (NASDAQ:LOGI) Announces $0.52 Annual Dividend

Logitech International SA (NASDAQ:LOGI) announced an annual dividend on Monday, January 1st, NASDAQ reports. Stockholders of record on Monday, January 1st will be paid 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 is Friday, September 18th.

Logitech International has increased its dividend payment by 31.0% over the last three years.

Shares of LOGI traded up $1.09 during mid-day trading on Wednesday, hitting $72.12. 1,775 shares of the stock were exchanged, compared to its average volume of 457,807. The company has a market cap of $11.86 billion, a PE ratio of 25.37 and a beta of 0.98. Logitech International has a 52-week low of $31.37 and a 52-week high of $76.53. The firm has a 50-day moving average of $72.52 and a two-hundred day moving average of $57.56.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, July 20th. The technology company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $706.14 million. On average, analysts predict that Logitech International will post 2.25 EPS for the current fiscal year.

LOGI has been the topic of several recent research reports. Wedbush increased their price target on Logitech International from $65.00 to $73.50 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Zacks Investment Research lowered 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. JPMorgan Chase & Co. lowered Logitech International from an “overweight” rating to a “neutral” rating and set a $57.00 price target on the stock. in a report on Thursday, May 21st. They noted that the move was a valuation call. DA Davidson increased their price target on Logitech International from $70.00 to $83.00 in a report on Wednesday, July 22nd. Finally, Citigroup upped their price objective on Logitech International from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Logitech International currently has an average rating of “Hold” and a consensus target price of $69.79.

In other Logitech International news, CEO Bracken Darrell sold 120,650 shares of the company’s stock in a transaction 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.

Logitech International announced that its board has authorized a stock buyback plan on Wednesday, May 27th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.

Further Reading: Blue-Chip Stocks

Dividend History for Logitech International (NASDAQ:LOGI)

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