Plantronics (NYSE:PLT) shares reached a new 52-week high and low during trading on Thursday . The company traded as low as $69.63 and last traded at $69.48, with a volume of 6038 shares traded. The stock had previously closed at $68.35.
A number of research firms have commented on PLT. ValuEngine cut Plantronics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Roth Capital upped their price target on Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. TheStreet cut Plantronics from a “b” rating to a “c” rating in a research note on Friday, February 2nd. Finally, Sidoti cut Plantronics from a “buy” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.00.
The company has a market cap of $3.43 billion, a PE ratio of 25.40 and a beta of 1.23. The company has a debt-to-equity ratio of 1.40, a current ratio of 7.17 and a quick ratio of 6.62.
Plantronics (NYSE:PLT) last announced its quarterly earnings data on Tuesday, May 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.25. The business had revenue of $216.10 million for the quarter, compared to analysts’ expectations of $208.49 million. Plantronics had a positive return on equity of 24.88% and a negative net margin of 0.10%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. research analysts expect that Plantronics will post 2.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 18th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 17th. Plantronics’s payout ratio is currently 22.14%.
In other news, Director Marshall Mohr sold 3,000 shares of the stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $66.53, for a total value of $199,590.00. Following the sale, the director now directly owns 24,039 shares in the company, valued at $1,599,314.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian S. Dexheimer sold 500 shares of the stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $60.90, for a total value of $30,450.00. Following the completion of the sale, the director now owns 15,502 shares in the company, valued at $944,071.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,616 shares of company stock worth $623,927. Insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PLT. Schwab Charles Investment Management Inc. raised its stake in shares of Plantronics by 7.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock valued at $15,689,000 after acquiring an additional 22,414 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Plantronics by 2,352.1% in the fourth quarter. Acadian Asset Management LLC now owns 14,443 shares of the technology company’s stock valued at $727,000 after buying an additional 13,854 shares during the last quarter. Foundry Partners LLC increased its holdings in Plantronics by 3.3% in the fourth quarter. Foundry Partners LLC now owns 266,520 shares of the technology company’s stock valued at $13,427,000 after buying an additional 8,491 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in Plantronics in the fourth quarter valued at $5,280,000. Finally, LSV Asset Management increased its holdings in Plantronics by 2.6% in the fourth quarter. LSV Asset Management now owns 595,194 shares of the technology company’s stock valued at $29,985,000 after buying an additional 14,900 shares during the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.
Plantronics Company Profile
Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company also manufactures and markets specialty telephone products under the Clarity brand.
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