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

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 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 dividend 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 Stock Performance

LOGI traded up $2.27 on Monday, hitting $85.93. 423,288 shares of the company were exchanged, compared to its average volume of 634,946. The stock's fifty day moving average is $81.80 and its 200-day moving average is $86.63. Logitech International has a 12 month low of $64.73 and a 12 month high of $105.65. The company has a market cap of $13.59 billion, a PE ratio of 20.71, a PEG ratio of 17.39 and a beta of 0.96.

Logitech International (NASDAQ:LOGI - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.40% and a net margin of 13.86%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, equities research analysts expect that Logitech International will post 4.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Logitech International

A hedge fund recently raised its stake in Logitech International stock. AQR Capital Management LLC raised its position in Logitech International S.A. (NASDAQ:LOGI - Free Report) by 61.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,175 shares of the technology company's stock after buying an additional 1,585 shares during the quarter. AQR Capital Management LLC's holdings in Logitech International were worth $352,000 at the end of the most recent reporting period. 45.76% of the stock is currently owned by institutional investors.

Logitech International announced that its board has initiated a stock buyback program on Wednesday, March 5th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

LOGI has been the subject of a number of analyst reports. Bank of America raised shares of Logitech International from an "underperform" rating to a "neutral" rating and decreased their price objective for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Citigroup reduced their price target on Logitech International from $105.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Loop Capital lowered their price target on Logitech International from $97.00 to $78.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. UBS Group raised Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on Logitech International from $96.00 to $80.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.29.

About Logitech International

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.