Logitech International SA (NASDAQ:LOGI) declared an annual dividend on Monday, January 1st, NASDAQ reports. Shareholders 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 yield of 0.74%. The ex-dividend date is Friday, September 18th.
Logitech International has increased its dividend by 31.0% over the last three years.
LOGI traded up $0.64 during trading on Wednesday, hitting $71.67. 2,679 shares of the company’s stock were exchanged, compared to its average volume of 457,807. The business’s 50 day moving average is $72.52 and its two-hundred day moving average is $57.56. Logitech International has a fifty-two week low of $31.37 and a fifty-two week high of $76.53. The stock has a market cap of $11.86 billion, a P/E ratio of 25.37 and a beta of 0.98.
In other Logitech International news, CEO Bracken Darrell sold 120,650 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $73.61, for a total transaction of $8,881,046.50. Company insiders own 1.10% of the company’s stock.
Logitech International announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 27th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the technology company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Several analysts have recently commented on LOGI shares. Zacks Investment Research downgraded shares of Logitech International from a “strong-buy” rating to a “hold” rating and set a $69.00 target price for the company. 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. 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 report on Tuesday, July 21st. Citigroup increased 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. Finally, BidaskClub downgraded shares of Logitech International from a “buy” rating to a “hold” rating in a report on Wednesday, August 26th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company 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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