Wedbush Reiterates Neutral Rating for Logitech International (NASDAQ:LOGI)

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

Several other brokerages have also issued reports on LOGI. Loop Capital increased 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. StockNews.com downgraded shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays cut their price objective on shares of Logitech International from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned 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 Price Performance

Shares of Logitech International stock opened at $80.44 on Wednesday. The company has a 50-day moving average of $87.55 and a 200 day moving average of $89.31. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of 20.79, a PEG 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 issued its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.20. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a net margin of 15.67% and a return on equity of 30.51%. On average, equities analysts anticipate that Logitech International will post 3.96 EPS for the current 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 issued 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 an increase from Logitech International’s previous annual dividend of $1.19. Logitech International’s dividend payout ratio (DPR) is presently 13.49%.

Institutional Trading of Logitech International

Institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Logitech International during the 2nd quarter valued at about $35,000. Employees Retirement System of Texas purchased a new stake in shares of Logitech International during the 2nd quarter valued at about $63,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Logitech International by 139.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 850 shares of the technology company’s stock valued at $82,000 after acquiring an additional 495 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Logitech International by 2,036.8% during the 2nd quarter. Blue Trust Inc. now owns 1,453 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,385 shares during the last quarter. Finally, Syquant Capital Sas purchased a new stake in shares of Logitech International during the 2nd quarter valued at about $184,000. 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.