Plantronics Inc (NYSE:PLT) Director Brian S. Dexheimer sold 3,189 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $56.03, for a total value of $178,679.67. Following the completion of the sale, the director now directly owns 18,334 shares of the company’s stock, valued at approximately $1,027,254.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Plantronics Inc (NYSE:PLT) traded up 1.19% during trading on Friday, reaching $52.88. The company had a trading volume of 60,702 shares. The company has a market capitalization of $1.71 billion, a P/E ratio of 21.07 and a beta of 1.57. The stock has a 50 day moving average of $53.90 and a 200-day moving average of $53.76. Plantronics Inc has a 12 month low of $40.81 and a 12 month high of $58.27.
Plantronics (NYSE:PLT) last announced its quarterly earnings results on Monday, May 1st. The technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The firm had revenue of $208.95 million for the quarter, compared to the consensus estimate of $217.11 million. Plantronics had a return on equity of 23.07% and a net margin of 8.62%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. Equities research analysts expect that Plantronics Inc will post $3.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, May 17th. Plantronics’s dividend payout ratio is presently 25.86%.
Large investors have recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Plantronics by 324.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 77,539 shares of the technology company’s stock worth $4,028,000 after buying an additional 59,286 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of Plantronics by 1.6% in the third quarter. Isthmus Partners LLC now owns 13,609 shares of the technology company’s stock valued at $700,000 after buying an additional 214 shares during the period. BlackRock Inc. boosted its stake in shares of Plantronics by 3.6% in the third quarter. BlackRock Inc. now owns 15,105 shares of the technology company’s stock valued at $786,000 after buying an additional 529 shares during the period. BlackRock Fund Advisors increased its position in shares of Plantronics by 5.7% in the third quarter. BlackRock Fund Advisors now owns 1,812,671 shares of the technology company’s stock valued at $94,186,000 after buying an additional 97,705 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Plantronics by 18.5% in the third quarter. Teachers Advisors LLC now owns 274,918 shares of the technology company’s stock valued at $14,285,000 after buying an additional 42,862 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.
A number of brokerages have recently weighed in on PLT. Zacks Investment Research upgraded Plantronics from a “sell” rating to a “hold” rating in a research report on Friday, March 31st. Roth Capital set a $63.00 price target on Plantronics and gave the company a “buy” rating in a research report on Wednesday, February 1st.
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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