Insider Buying: Plantronics Inc (NYSE:PLT) Director Acquires 3,699 Shares of Stock

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Plantronics Inc (NYSE:PLT) Director Brian S. Dexheimer acquired 3,699 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $25.89 per share, with a total value of $95,767.11. Following the completion of the purchase, the director now owns 75,737 shares of the company’s stock, valued at $1,960,830.93. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Plantronics stock opened at $26.22 on Friday. Plantronics Inc has a one year low of $23.14 and a one year high of $53.92. The business has a fifty day moving average price of $35.01 and a 200-day moving average price of $37.40. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.38 and a quick ratio of 0.99. The firm has a market capitalization of $1.01 billion, a P/E ratio of 6.56 and a beta of 1.54.

Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.18. Plantronics had a positive return on equity of 24.27% and a negative net margin of 7.13%. The firm had revenue of $461.71 million during the quarter, compared to analyst estimates of $478.38 million. During the same period last year, the company earned $1.51 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts expect that Plantronics Inc will post 1.87 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be given a $0.15 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.29%. Plantronics’s dividend payout ratio (DPR) is presently 15.00%.

Several hedge funds have recently modified their holdings of PLT. Skyline Asset Management LP raised 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 buying an additional 21,800 shares in the last quarter. Peregrine Capital Management LLC raised 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 buying an additional 13,644 shares in the last quarter. Arizona State Retirement System raised 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 buying an additional 282 shares in the last quarter. SG Americas Securities LLC raised 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 buying an additional 13,205 shares in the last quarter. Finally, Cubic Asset Management LLC purchased a new stake in shares of Plantronics in the second quarter worth $887,000. Institutional investors own 99.87% of the company’s stock.

Several analysts have recently commented on PLT shares. Zacks Investment Research raised Plantronics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Northland Securities downgraded Plantronics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $70.00 to $35.00 in a research note on Wednesday, November 6th. Morgan Stanley started coverage on Plantronics in a research note on Thursday, September 19th. They issued an “overweight” rating and a $58.00 price objective for the company. Finally, Cowen set a $61.00 price objective on Plantronics and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Plantronics currently has an average rating of “Buy” and a consensus target price of $55.33.

About Plantronics

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.

Further Reading: Stock Symbols and CUSIP Explained

Insider Buying and Selling by Quarter for Plantronics (NYSE:PLT)

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