Logitech International S.A. (NASDAQ:LOGI) Plans Dividend Increase – $1.37 Per Share

Logitech International S.A. (NASDAQ:LOGI) declared an annual dividend on Wednesday, September 4th, Wall Street Journal reports. Stockholders of record on Tuesday, September 24th will be given a dividend of 1.3687 per share by the technology company on Wednesday, September 25th. This represents a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 24th. This is an increase from Logitech International’s previous annual dividend of $1.19.

Logitech International has raised its dividend by an average of 10.1% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Logitech International has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Logitech International to earn $4.20 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 32.4%.

Logitech International Stock Performance

Shares of NASDAQ:LOGI opened at $86.80 on Monday. The business has a 50-day simple moving average of $88.35 and a two-hundred day simple moving average of $89.91. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.45 and a beta of 0.79. Logitech International has a fifty-two week low of $65.31 and a fifty-two week high of $102.59.

Logitech International (NASDAQ:LOGI) last announced its earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, research analysts predict that Logitech International will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LOGI. Barclays boosted their price target on Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Loop Capital lifted their price target on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Wedbush reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Logitech International in a report on Tuesday, July 16th. Finally, StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.14.

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.