Plantronics (PLT) Reaches New 52-Week High and Low at $75.70

Plantronics Inc (NYSE:PLT) reached a new 52-week high and low during trading on Thursday . The stock traded as low as $75.70 and last traded at $75.40, with a volume of 649 shares. The stock had previously closed at $75.02.

PLT has been the subject of several analyst reports. Sidoti upgraded Plantronics from a “neutral” rating to a “buy” rating in a research note on Thursday, March 29th. ValuEngine upgraded Plantronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 29th. Finally, TheStreet upgraded Plantronics from a “c” rating to a “b-” rating in a research note on Thursday, May 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Plantronics presently has an average rating of “Hold” and a consensus price target of $60.00.

The company has a debt-to-equity ratio of 1.40, a current ratio of 7.17 and a quick ratio of 6.62. The company has a market capitalization of $3.66 billion, a P/E ratio of 27.96 and a beta of 1.25.

Plantronics (NYSE:PLT) last released its quarterly earnings results on Tuesday, May 1st. The technology company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.25. Plantronics had a positive return on equity of 24.88% and a negative net margin of 0.10%. The business had revenue of $216.10 million during the quarter, compared to analysts’ expectations of $208.49 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. analysts forecast that Plantronics Inc will post 2.63 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Friday, May 18th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 17th. Plantronics’s payout ratio is 22.14%.

In other Plantronics news, Director Brian S. Dexheimer sold 500 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $60.90, for a total value of $30,450.00. Following the completion of the transaction, the director now owns 15,502 shares in the company, valued at $944,071.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shantanu Sarkar sold 1,120 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $60.00, for a total value of $67,200.00. Following the completion of the transaction, the insider now owns 15,807 shares of the company’s stock, valued at approximately $948,420. The disclosure for this sale can be found here. Insiders sold 11,616 shares of company stock valued at $770,919 in the last quarter. 3.20% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in PLT. Schwab Charles Investment Management Inc. raised its position in Plantronics by 7.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock worth $15,689,000 after acquiring an additional 22,414 shares in the last quarter. ING Groep NV purchased a new position in Plantronics in the fourth quarter worth $251,000. Teacher Retirement System of Texas purchased a new position in Plantronics in the fourth quarter worth $583,000. California Public Employees Retirement System raised its position in Plantronics by 6.0% in the fourth quarter. California Public Employees Retirement System now owns 126,857 shares of the technology company’s stock worth $6,391,000 after acquiring an additional 7,136 shares in the last quarter. Finally, Swiss National Bank raised its position in Plantronics by 2.9% in the fourth quarter. Swiss National Bank now owns 56,400 shares of the technology company’s stock worth $2,841,000 after acquiring an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

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 also manufactures and markets specialty telephone products under the Clarity brand.

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