Plantronics Inc (NYSE:PLT) insider Charles D. Boynton purchased 2,000 shares of Plantronics stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $42.80 per share, with a total value of $85,600.00. Following the acquisition, the insider now directly owns 36,611 shares of the company’s stock, valued at approximately $1,566,950.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Plantronics stock opened at $45.86 on Thursday. Plantronics Inc has a 52 week low of $30.90 and a 52 week high of $82.28. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.48 and a quick ratio of 1.14. The stock has a market cap of $1.73 billion, a P/E ratio of 11.47 and a beta of 1.52.
Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.22. Plantronics had a positive return on equity of 19.98% and a negative net margin of 8.10%. The business had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $481.43 million. During the same quarter last year, the company posted $1.05 earnings per share. Plantronics’s quarterly revenue was up 125.9% on a year-over-year basis. As a group, sell-side analysts predict that Plantronics Inc will post 5.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, May 17th. Plantronics’s payout ratio is currently 15.00%.
A number of hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC raised its position in shares of Plantronics by 38.4% in the fourth quarter. Penserra Capital Management LLC now owns 778 shares of the technology company’s stock valued at $25,000 after buying an additional 216 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Plantronics by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,616 shares of the technology company’s stock valued at $582,000 after buying an additional 260 shares in the last quarter. Arizona State Retirement System raised its position in shares of Plantronics by 1.4% in the fourth quarter. Arizona State Retirement System now owns 23,712 shares of the technology company’s stock valued at $785,000 after buying an additional 320 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Plantronics by 0.7% in the fourth quarter. GSA Capital Partners LLP now owns 49,727 shares of the technology company’s stock valued at $1,646,000 after buying an additional 329 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Plantronics by 37.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,303 shares of the technology company’s stock valued at $61,000 after buying an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.
A number of equities analysts recently commented on PLT shares. Northland Securities reiterated a “buy” rating and set a $85.00 price target on shares of Plantronics in a report on Thursday, March 21st. Zacks Investment Research upgraded Plantronics from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Thursday, February 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.00.
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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