Logitech International (NASDAQ:LOGI) Receives Neutral Rating from Wedbush

Wedbush restated their neutral rating on shares of Logitech International (NASDAQ:LOGI) in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a $88.00 price objective on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Barclays cut their price target on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Wednesday. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Loop Capital upped their price objective on shares of Logitech International from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.00.

Logitech International Trading Down 4.2 %

Logitech International stock opened at $80.44 on Wednesday. The firm’s 50 day simple moving average is $87.55 and its 200 day simple moving average is $89.31. The firm has a market capitalization of $12.72 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.47 and a beta of 0.79. Logitech International has a 1-year low of $74.00 and a 1-year high of $102.59.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 EPS for the quarter, topping 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 analysts’ expectations of $1.03 billion. Research analysts forecast that Logitech International will post 3.96 earnings per share for the current year.

Logitech International Increases Dividend

The company also recently declared an annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 24th were given a dividend of $1.3687 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a yield of 1.4%. This is a boost from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio is presently 13.49%.

Institutional Investors Weigh In On Logitech International

Institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in Logitech International during the 2nd quarter valued at $35,000. Employees Retirement System of Texas bought a new position in Logitech International in the 2nd quarter worth $63,000. Benjamin F. Edwards & Company Inc. raised its holdings in Logitech International by 139.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock worth $82,000 after purchasing an additional 495 shares in the last quarter. Blue Trust Inc. raised its holdings in Logitech International by 2,036.8% in the 2nd quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Syquant Capital Sas bought a new position in Logitech International in the 2nd quarter worth $184,000. Hedge funds and other institutional investors own 45.76% of the company’s stock.

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.