Logitech International S.A. (NASDAQ:LOGI) Raises Dividend to $1.54 Per Share

Logitech International S.A. (NASDAQ:LOGI - Get Free Report) announced an annual dividend on Friday, June 20th, Wall Street Journal reports. Investors of record on Tuesday, September 23rd will be given a dividend of 1.543 per share by the technology company on Wednesday, September 24th. This represents a 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 dividend payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.0%

Shares of LOGI traded down $0.85 during midday trading on Friday, hitting $83.66. The company had a trading volume of 629,132 shares, compared to its average volume of 635,905. The company's 50 day moving average price is $81.55 and its 200 day moving average price is $86.58. The stock has a market cap of $13.23 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 17.56 and a beta of 0.96. Logitech International has a 52 week low of $64.73 and a 52 week high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a net margin of 13.86% and a return on equity of 30.40%. Logitech International's revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Equities analysts anticipate that Logitech International will post 4.21 EPS for the current fiscal year.

Logitech International declared that its board has initiated a share repurchase plan on Wednesday, March 5th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the technology company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LOGI shares. JPMorgan Chase & Co. lowered their price objective on shares of Logitech International from $96.00 to $80.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Wedbush restated an "outperform" rating and issued a $100.00 price objective on shares of Logitech International in a report on Wednesday, May 21st. Wall Street Zen lowered Logitech International from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup cut their price objective on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, UBS Group upgraded Logitech International from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Logitech International has an average rating of "Hold" and a consensus price target of $84.29.

Institutional Investors Weigh In On Logitech International

An institutional investor recently raised its position in Logitech International stock. AQR Capital Management LLC lifted its stake in shares of Logitech International S.A. (NASDAQ:LOGI - Free Report) by 61.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,175 shares of the technology company's stock after acquiring 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 filing with the SEC. 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.