Logitech International S.A. (LOGI) To Go Ex-Dividend on September 22nd

Logitech International S.A. (NASDAQ:LOGI) announced an annual dividend on Thursday, June 18th. Investors of record on Tuesday, September 22nd will be paid a dividend of 1.36 per share by the technology company on Wednesday, September 23rd. This represents a yield of 126.0%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Logitech International has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Logitech International to earn $5.43 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 9.6%.

Logitech International Trading Down 1.3%

LOGI opened at $101.20 on Friday. The stock’s 50-day moving average price is $101.76 and its 200 day moving average price is $100.90. Logitech International has a 12-month low of $83.32 and a 12-month high of $129.66. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 3.73 and a beta of 1.18.

Logitech International (NASDAQ:LOGI) last released its earnings results on Tuesday, July 28th. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.59. Logitech International had a net margin of 16.28% and a return on equity of 37.30%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that Logitech International will post 5.18 earnings per share for the current year.

Insider Activity

In related news, insider Samantha Harnett sold 16,265 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $101.35, for a total transaction of $1,648,457.75. Following the transaction, the insider owned 37,097 shares in the company, valued at $3,759,780.95. This trade represents a 30.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Logitech International

Several large investors have recently modified their holdings of LOGI. Caitong International Asset Management Co. Ltd increased its holdings in shares of Logitech International by 911.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock valued at $68,000 after acquiring an additional 611 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Logitech International by 15.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 861 shares of the technology company’s stock worth $86,000 after purchasing an additional 114 shares during the period. Fifth Third Bancorp grew its position in Logitech International by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 903 shares of the technology company’s stock worth $82,000 after purchasing an additional 145 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Logitech International during the 2nd quarter worth $115,000. Finally, Westerkirk Capital Inc. increased its stake in Logitech International by 275.0% in the fourth quarter. Westerkirk Capital Inc. now owns 1,500 shares of the technology company’s stock valued at $150,000 after purchasing an additional 1,100 shares during the period. 45.76% of the stock is owned by institutional investors and hedge funds.

Logitech International Company Profile

Logitech International is a technology company that designs and develops hardware and software for connecting people to digital devices and platforms. Its products are used by consumers, businesses, educators, content creators and gamers, with offerings spanning personal computing, communication, collaboration and entertainment.

The company’s portfolio includes mice, keyboards, webcams, headsets, speakers, docking stations and other computer accessories. Logitech also provides video-conferencing systems and related collaboration products for meeting rooms and workplaces, as well as gaming peripherals, streaming equipment and accessories sold under brands such as Logitech G and ASTRO.

Founded in 1981 in Apples, Switzerland, Logitech serves customers internationally through retail, e-commerce and business-to-business channels.