Logitech International SA (NASDAQ:LOGI) declared 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 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.
Shares of NASDAQ LOGI traded up $0.64 during mid-day trading on Wednesday, hitting $71.67. The stock had a trading volume of 2,679 shares, compared to its average volume of 457,807. Logitech International has a 1 year low of $31.37 and a 1 year high of $76.53. The business has a 50 day moving average price of $72.52 and a two-hundred day moving average price of $57.56. The firm has a market cap of $11.86 billion, a P/E ratio of 25.37 and a beta of 0.98.
Logitech International announced that its board has authorized a stock repurchase plan on Wednesday, May 27th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Several analysts recently weighed in on LOGI shares. Zacks Investment Research cut shares of 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. Wedbush boosted their target price on shares of Logitech International from $65.00 to $73.50 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Loop Capital boosted their target price on shares of Logitech International from $58.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. UBS Group upgraded shares of Logitech International from a “sell” rating to a “neutral” rating in a report on Wednesday, May 20th. Finally, Citigroup boosted their target price on shares of Logitech International from $73.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $69.79.
In related news, CEO Bracken Darrell sold 52,390 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $64.96, for a total value of $3,403,254.40. Following the transaction, the chief executive officer now owns 879,671 shares in the company, valued at approximately $57,143,428.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
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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