Rhumbline Advisers reduced its position in Plantronics Inc (NYSE:PLT) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,411 shares of the technology company’s stock after selling 1,564 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of Plantronics worth $4,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of PLT. Skyline Asset Management LP boosted its position in shares of Plantronics by 14.8% in the second quarter. Skyline Asset Management LP now owns 169,100 shares of the technology company’s stock worth $6,263,000 after purchasing an additional 21,800 shares during the period. Peregrine Capital Management LLC boosted its position in shares of Plantronics by 7.7% in the second quarter. Peregrine Capital Management LLC now owns 190,178 shares of the technology company’s stock worth $7,044,000 after purchasing an additional 13,644 shares during the period. Arizona State Retirement System boosted its position in shares of Plantronics by 1.2% in the second quarter. Arizona State Retirement System now owns 23,806 shares of the technology company’s stock worth $882,000 after purchasing an additional 282 shares during the period. SG Americas Securities LLC boosted its position in shares of Plantronics by 120.2% in the second quarter. SG Americas Securities LLC now owns 24,190 shares of the technology company’s stock worth $896,000 after purchasing an additional 13,205 shares during the period. Finally, Cubic Asset Management LLC bought a new position in shares of Plantronics in the second quarter worth approximately $887,000. Institutional investors and hedge funds own 99.50% of the company’s stock.
A number of research firms have weighed in on PLT. Zacks Investment Research upgraded shares of Plantronics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley initiated coverage on shares of Plantronics in a report on Thursday, September 19th. They issued an “overweight” rating and a $58.00 target price on the stock. Northland Securities downgraded shares of Plantronics from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $70.00 to $35.00 in a report on Wednesday. Finally, Cowen set a $61.00 target price on shares of Plantronics and gave the stock a “buy” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.33.
PLT stock opened at $25.47 on Friday. Plantronics Inc has a one year low of $23.14 and a one year high of $61.37. The company’s fifty day moving average price is $36.38 and its 200-day moving average price is $38.20. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.99 and a current ratio of 1.37. The company has a market capitalization of $1.56 billion, a PE ratio of 6.37 and a beta of 1.54.
Plantronics (NYSE:PLT) last released its earnings results on Tuesday, November 5th. The technology company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.06 by $0.18. Plantronics had a negative net margin of 7.13% and a positive return on equity of 23.82%. The firm had revenue of $461.71 million for the quarter, compared to the consensus estimate of $478.38 million. During the same quarter in the previous year, the firm earned $1.51 earnings per share. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts predict that Plantronics Inc will post 4.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, November 19th. Plantronics’s dividend payout ratio (DPR) is presently 15.00%.
In other news, CEO Joseph B. Burton sold 5,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $33.00, for a total value of $165,000.00. Following the transaction, the chief executive officer now owns 156,960 shares of the company’s stock, valued at $5,179,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by insiders.
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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