Logitech International S.A. (NASDAQ:LOGI) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Logitech International has an average price target of $92.71 set by analysts, with a general recommendation of "Hold" from ten ratings firms, six of which indicate a hold and four a buy.
• The company plans to increase its annual dividend to $1.543, up from last year's $1.37, resulting in a dividend yield of 1.4% and representing a payout ratio of 12.58%.
• Logitech's stock traded at $96.77 recently, showing an increase of 1.1%, and the company reported earnings of $0.93 per share for the last quarter, surpassing analyst expectations.

Shares of Logitech International S.A. (NASDAQ:LOGI - Get Free Report) have earned an average rating of "Hold" from the ten ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $92.71.

A number of research analysts have weighed in on the stock. Citigroup boosted their price objective on shares of Logitech International from $85.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Bank of America upgraded shares of Logitech International from an "underperform" rating to a "neutral" rating and cut their price objective for the company from $90.00 to $73.00 in a research report on Friday, April 4th. Wedbush boosted their price objective on shares of Logitech International from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Barclays cut their price objective on shares of Logitech International from $108.00 to $92.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group upgraded shares of Logitech International from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th.

Institutional Trading of Logitech International

Hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA purchased a new stake in Logitech International in the fourth quarter worth about $26,000. Sound Income Strategies LLC purchased a new stake in Logitech International in the second quarter worth about $27,000. Bessemer Group Inc. lifted its stake in Logitech International by 1,339.1% in the fourth quarter. Bessemer Group Inc. now owns 331 shares of the technology company's stock worth $27,000 after acquiring an additional 308 shares during the period. Quarry LP purchased a new stake in Logitech International in the first quarter worth about $33,000. Finally, Tower Research Capital LLC TRC lifted its stake in Logitech International by 975.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 484 shares of the technology company's stock worth $40,000 after acquiring an additional 439 shares during the period. 45.76% of the stock is owned by hedge funds and other institutional investors.

Logitech International Stock Down 1.3%

Logitech International stock traded down $1.23 during mid-day trading on Friday, reaching $95.54. 388,789 shares of the company's stock traded hands, compared to its average volume of 731,287. The company has a market cap of $15.30 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 20.11 and a beta of 0.96. The stock has a 50 day moving average of $89.06 and a two-hundred day moving average of $88.22. Logitech International has a 12-month low of $64.73 and a 12-month high of $105.65.

Logitech International (NASDAQ:LOGI - Get Free Report) last released its quarterly 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 company had revenue of $1.01 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that Logitech International will post 4.21 earnings per share for the current year.

Logitech International Increases Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Tuesday, September 23rd will be issued a $1.543 dividend. The ex-dividend date is Tuesday, September 23rd. This is a boost from Logitech International's previous annual dividend of $1.37. This represents a dividend yield of 1.4%.

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.