Logitech International S.A. (NASDAQ:LOGI) to Issue Annual Dividend of $1.54

Logitech International S.A. (NASDAQ:LOGI) declared an annual dividend on Friday, June 20th, Wall Street Journal reports. Investors of record on Tuesday, September 23rd will be paid a dividend of 1.543 per share by the technology company on Wednesday, September 24th. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 23rd. This is a 12.7% increase from Logitech International’s previous annual dividend of $1.37.

Logitech International has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Logitech International to earn $4.34 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 31.8%.

Logitech International Trading Down 1.0%

Shares of LOGI opened at $83.66 on Friday. The firm has a market capitalization of $13.23 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 17.39 and a beta of 0.96. The stock’s fifty day simple moving average is $81.55 and its 200 day simple moving average is $86.60. Logitech International has a twelve month low of $64.73 and a twelve month high of $105.65.

Logitech International (NASDAQ:LOGI) last issued its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.07. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.99 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Sell-side analysts predict that Logitech International will post 4.21 earnings per share for the current year.

Analyst Ratings Changes

LOGI has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Logitech International from $96.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Bank of America upgraded Logitech International from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $73.00 in a research note on Friday, April 4th. Loop Capital decreased their price target on Logitech International from $97.00 to $78.00 and set a “hold” rating for the company in a research note on Tuesday, May 6th. Wall Street Zen downgraded Logitech International from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Citigroup decreased their price target on Logitech International from $105.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Logitech International has an average rating of “Hold” and an average target price of $84.29.

Logitech International declared that its board has approved a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Logitech International

A hedge fund recently raised its stake in Logitech International stock. AQR Capital Management LLC grew its stake in shares of Logitech International S.A. (NASDAQ:LOGI) by 61.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,175 shares of the technology company’s stock after purchasing an additional 1,585 shares during the quarter. AQR Capital Management LLC’s holdings in Logitech International were worth $352,000 as of its most recent SEC filing. Institutional investors and hedge funds own 45.76% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.