Plantronics Inc (NYSE:PLT) insider Jeff Loebbaka sold 1,334 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $44.03, for a total value of $58,736.02. Following the transaction, the insider now owns 39,292 shares of the company’s stock, valued at $1,730,026.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Plantronics stock traded up $1.37 during mid-day trading on Thursday, hitting $47.23. The stock had a trading volume of 393,745 shares, compared to its average volume of 441,839. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 11.81 and a beta of 1.52. Plantronics Inc has a 12 month low of $30.90 and a 12 month high of $82.28. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 2.27.
Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.22. The business had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $481.43 million. Plantronics had a positive return on equity of 19.98% and a negative net margin of 8.10%. The firm’s quarterly revenue was up 125.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 earnings per share. As a group, sell-side analysts expect that Plantronics Inc will post 5.06 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, May 17th. Plantronics’s dividend payout ratio is 15.00%.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded Plantronics from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, February 7th. Northland Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Plantronics in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Plantronics currently has a consensus rating of “Buy” and an average price target of $65.00.
A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Plantronics during the fourth quarter worth about $25,933,000. Deprince Race & Zollo Inc. bought a new position in shares of Plantronics during the 4th quarter worth approximately $14,487,000. Two Sigma Investments LP bought a new position in shares of Plantronics during the 4th quarter worth approximately $7,615,000. BlackRock Inc. boosted its stake in shares of Plantronics by 4.9% during the 4th quarter. BlackRock Inc. now owns 4,183,299 shares of the technology company’s stock worth $138,466,000 after acquiring an additional 193,974 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in shares of Plantronics during the 1st quarter worth approximately $8,140,000. Institutional investors and hedge funds own 99.34% of the company’s stock.
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Plantronics Company Profile
Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.
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