Logitech International SA (NASDAQ:LOGI) announced an annual dividend on Monday, January 1st, NASDAQ reports. Investors 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 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 opened at $72.50 on Wednesday. The company has a 50-day moving average price of $72.52 and a two-hundred day moving average price of $57.56. Logitech International has a 52 week low of $31.37 and a 52 week high of $76.53. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 25.37 and a beta of 0.98.
Logitech International declared that its board has approved a share 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 buy up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO Bracken Darrell sold 52,390 shares of Logitech International stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $64.96, for a total transaction of $3,403,254.40. Following the transaction, the chief executive officer now owns 879,671 shares in the company, valued at $57,143,428.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
A number of equities analysts have issued reports on LOGI shares. JPMorgan Chase & Co. lowered Logitech International from an “overweight” rating to a “neutral” rating and set a $57.00 price target for the company. in a research note on Thursday, May 21st. They noted that the move was a valuation call. Loop Capital boosted their price target on shares of Logitech International from $58.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Zacks Investment Research lowered shares of Logitech International from a “strong-buy” rating to a “hold” rating and set a $69.00 price objective for the company. in a research report on Tuesday, July 7th. Wedbush increased their target price on shares of Logitech International from $65.00 to $73.50 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Finally, UBS Group raised Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, May 20th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Logitech International currently has a consensus rating of “Hold” and an average target price of $69.79.
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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