Plantronics Inc (NYSE:PLT) insider Jeff Loebbaka sold 4,614 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $45.02, for a total value of $207,722.28. Following the sale, the insider now owns 36,186 shares in the company, valued at approximately $1,629,093.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Plantronics stock opened at $43.15 on Thursday. Plantronics Inc has a 12-month low of $41.99 and a 12-month high of $82.28. The company has a market cap of $1.72 billion, a PE ratio of 15.92 and a beta of 1.03. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 2.18.
Plantronics (NYSE:PLT) last announced its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($1.05). Plantronics had a positive return on equity of 20.46% and a negative net margin of 9.75%. The company had revenue of $483.07 million for the quarter, compared to the consensus estimate of $506.32 million. During the same quarter in the prior year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 129.7% on a year-over-year basis. As a group, equities analysts expect that Plantronics Inc will post 1.87 earnings per share for the current fiscal year.
Plantronics announced that its board has authorized a share repurchase plan on Thursday, November 29th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Tuesday, November 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Monday, November 19th. Plantronics’s dividend payout ratio (DPR) is presently 22.14%.
A number of institutional investors and hedge funds have recently bought and sold shares of PLT. Point72 Asset Management L.P. bought a new stake in Plantronics in the 2nd quarter valued at $122,000. Cubist Systematic Strategies LLC bought a new stake in Plantronics in the 2nd quarter valued at $212,000. Tower Research Capital LLC TRC raised its stake in Plantronics by 95.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the technology company’s stock valued at $218,000 after acquiring an additional 1,761 shares during the period. Burney Co. bought a new stake in Plantronics in the 2nd quarter valued at $225,000. Finally, Paloma Partners Management Co bought a new stake in Plantronics in the 3rd quarter valued at $230,000. Institutional investors and hedge funds own 97.51% of the company’s stock.
A number of brokerages have recently issued reports on PLT. Sidoti upgraded Plantronics from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 8th. They noted that the move was a valuation call. TheStreet cut Plantronics from a “b-” rating to a “c+” rating in a research note on Friday, September 14th. Zacks Investment Research cut Plantronics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 14th. Finally, ValuEngine cut Plantronics from a “buy” rating to a “hold” rating in a research note on Monday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Plantronics currently has an average rating of “Hold” and a consensus price target of $68.00.
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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's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.
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