Plantronics Inc (NYSE:PLT) Director Marvin Tseu sold 3,546 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $54.50, for a total value of $193,257.00. Following the completion of the transaction, the director now directly owns 20,084 shares of the company’s stock, valued at approximately $1,094,578. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Plantronics Inc (NYSE:PLT) traded up 1.19% during mid-day trading on Friday, reaching $52.88. 72,958 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $53.90 and a 200-day moving average of $53.76. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 21.07 and a beta of 1.57. Plantronics Inc has a one year low of $40.81 and a one year high of $58.27.
Plantronics (NYSE:PLT) last announced its quarterly earnings data on Monday, May 1st. The technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.10. Plantronics had a return on equity of 23.07% and a net margin of 8.62%. The company had revenue of $208.95 million during the quarter, compared to analyst estimates of $217.11 million. During the same quarter last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Plantronics Inc will post $3.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 19th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, May 17th. Plantronics’s dividend payout ratio (DPR) is currently 25.86%.
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Several research analysts have recently issued reports on PLT shares. Roth Capital set a $63.00 price objective on Plantronics and gave the company a “buy” rating in a research note on Wednesday, February 1st. Zacks Investment Research downgraded Plantronics from a “hold” rating to a “sell” rating in a research note on Tuesday, February 7th.
Large investors have recently made changes to their positions in the company. Elkfork Partners LLC purchased a new stake in shares of Plantronics during the fourth quarter valued at $100,000. Meadow Creek Investment Management LLC raised its position in Plantronics by 24.6% in the first quarter. Meadow Creek Investment Management LLC now owns 2,754 shares of the technology company’s stock worth $149,000 after buying an additional 544 shares during the last quarter. Victory Capital Management Inc. raised its position in Plantronics by 119.7% in the first quarter. Victory Capital Management Inc. now owns 2,810 shares of the technology company’s stock worth $152,000 after buying an additional 1,531 shares during the last quarter. Koch Industries Inc. bought a new position in Plantronics during the first quarter worth $202,000. Finally, Envestnet Asset Management Inc. raised its position in Plantronics by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 4,096 shares of the technology company’s stock worth $222,000 after buying an additional 312 shares during the last quarter. 90.39% of the stock is owned by institutional investors.
Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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