Logitech International (NASDAQ:LOGI) Sees Strong Trading Volume

Logitech International S.A. (NASDAQ:LOGI) saw strong trading volume on Friday . 612,863 shares were traded during trading, a decline of 1% from the previous session’s volume of 619,058 shares.The stock last traded at $71.72 and had previously closed at $70.27.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $57.00 price target on shares of Logitech International in a report on Thursday, July 20th. Wedbush lifted their price target on shares of Logitech International from $63.00 to $80.00 in a report on Wednesday, July 26th. Barclays lifted their price target on shares of Logitech International from $71.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. StockNews.com raised shares of Logitech International from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Loop Capital lifted their price target on shares of Logitech International from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.25.

Logitech International Stock Up 1.8 %

The company’s 50 day moving average price is $67.59 and its 200 day moving average price is $61.81. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 35.59 and a beta of 0.86.

Logitech International (NASDAQ:LOGI) last posted its earnings results on Monday, July 24th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.15. The company had revenue of $974.50 million during the quarter, compared to the consensus estimate of $916.69 million. Logitech International had a net margin of 7.50% and a return on equity of 19.75%. As a group, analysts expect that Logitech International S.A. will post 2.49 earnings per share for the current year.

Logitech International Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Wednesday, September 27th. Investors of record on Tuesday, September 26th will be given a dividend of $1.1876 per share. The ex-dividend date of this dividend is Monday, September 25th. This is an increase from Logitech International’s previous annual dividend of $0.98. This represents a yield of 1.4%. Logitech International’s payout ratio is currently 25.97%.

Logitech International declared that its board has initiated a share repurchase plan on Wednesday, June 21st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 10.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Logitech International by 233.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 551 shares of the technology company’s stock worth $34,000 after acquiring an additional 386 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Logitech International during the first quarter worth about $35,000. Belpointe Asset Management LLC purchased a new stake in shares of Logitech International during the fourth quarter worth about $51,000. State of Wyoming purchased a new stake in shares of Logitech International during the fourth quarter worth about $75,000. Finally, Syquant Capital Sas purchased a new stake in shares of Logitech International during the second quarter worth about $74,000. Institutional investors and hedge funds own 38.58% of the company’s stock.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets products that connect people to working, creating, gaming, and streaming worldwide. The company offers pointing devices, such as wireless mouse; corded and cordless keyboards, living room keyboards, and keyboard-and-mouse combinations; PC webcams; and keyboards for tablets and smartphones, as well as other accessories for mobile devices.