Logitech International's (LOGI) "Neutral" Rating Reiterated at Wedbush

Wedbush reiterated their neutral rating on shares of Logitech International (NASDAQ:LOGI - Free Report) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $88.00 target price on the technology company's stock.

LOGI has been the subject of a number of other research reports. Loop Capital boosted their price objective on Logitech International from $87.00 to $88.00 and gave the company a "hold" rating in a research note on Wednesday, August 14th. Barclays reduced their price objective on Logitech International from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, StockNews.com cut Logitech International from a "strong-buy" rating to a "buy" rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $94.00.

Logitech International Stock Down 4.2 %

LOGI traded down $3.55 on Wednesday, reaching $80.44. The company's stock had a trading volume of 1,637,813 shares, compared to its average volume of 492,020. The stock has a 50 day moving average of $87.70 and a two-hundred day moving average of $89.37. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 2.47 and a beta of 0.79. Logitech International has a fifty-two week low of $74.00 and a fifty-two week high of $102.59.

Logitech International (NASDAQ:LOGI - Get Free Report) last announced its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.20. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.03 billion. As a group, analysts anticipate that Logitech International will post 3.96 earnings per share for the current fiscal year.

Logitech International Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in Logitech International by 6.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,206 shares of the technology company's stock worth $200,000 after acquiring an additional 128 shares in the last quarter. Claro Advisors LLC grew its holdings in Logitech International by 6.2% in the first quarter. Claro Advisors LLC now owns 2,241 shares of the technology company's stock valued at $200,000 after purchasing an additional 131 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Logitech International by 2.4% in the second quarter. First Citizens Bank & Trust Co. now owns 6,468 shares of the technology company's stock valued at $627,000 after purchasing an additional 153 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Logitech International by 0.3% in the second quarter. Public Sector Pension Investment Board now owns 65,450 shares of the technology company's stock valued at $6,331,000 after purchasing an additional 168 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in Logitech International by 5.9% in the second quarter. Evergreen Capital Management LLC now owns 3,510 shares of the technology company's stock valued at $340,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors 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.