Plantronics Inc (NYSE:PLT) Director Brian S. Dexheimer acquired 3,699 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $25.89 per share, with a total value of $95,767.11. Following the completion of the acquisition, the director now directly owns 75,737 shares in the company, valued at approximately $1,960,830.93. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of NYSE:PLT traded down $0.47 during trading on Friday, hitting $25.44. 185,744 shares of the company were exchanged, compared to its average volume of 917,306. The company has a market cap of $1.03 billion, a PE ratio of 6.36 and a beta of 1.54. The stock has a 50 day moving average of $35.23 and a 200 day moving average of $37.52. Plantronics Inc has a 52-week low of $23.14 and a 52-week high of $53.92. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.38 and a quick ratio of 0.99.
Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, November 5th. The technology company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.18. The firm had revenue of $461.71 million for the quarter, compared to the consensus estimate of $478.38 million. Plantronics had a positive return on equity of 24.27% and a negative net margin of 7.13%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.51 earnings per share. Sell-side analysts forecast that Plantronics Inc will post 1.87 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Plantronics by 49.7% in the second quarter. Royal Bank of Canada now owns 1,370 shares of the technology company’s stock worth $51,000 after buying an additional 455 shares in the last quarter. First Mercantile Trust Co. raised its position in Plantronics by 25.8% during the third quarter. First Mercantile Trust Co. now owns 1,502 shares of the technology company’s stock valued at $56,000 after purchasing an additional 308 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Plantronics by 23.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,403 shares of the technology company’s stock valued at $90,000 after purchasing an additional 452 shares in the last quarter. Point72 Hong Kong Ltd raised its position in Plantronics by 38.6% during the second quarter. Point72 Hong Kong Ltd now owns 2,574 shares of the technology company’s stock valued at $95,000 after purchasing an additional 717 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Plantronics by 88.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,230 shares of the technology company’s stock valued at $120,000 after purchasing an additional 1,520 shares in the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.
PLT has been the subject of several recent analyst reports. Cowen set a $61.00 target price on Plantronics and gave the company a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley initiated coverage on Plantronics in a report on Thursday, September 19th. They set an “overweight” rating and a $58.00 price objective for the company. Zacks Investment Research raised Plantronics from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Northland Securities lowered Plantronics from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $70.00 to $35.00 in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $55.33.
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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