Plantronics (PLT) Reaches New 1-Year High and Low at $62.92

Shares of Plantronics (NYSE:PLT) hit a new 52-week high and low on Monday . The company traded as low as $62.92 and last traded at $63.15, with a volume of 56030 shares changing hands. The stock had previously closed at $62.21.

PLT has been the subject of a number of research reports. Northland Securities set a $60.00 price target on shares of Plantronics and gave the company a “buy” rating in a report on Friday, January 12th. ValuEngine raised shares of Plantronics from a “hold” rating to a “buy” rating in a report on Thursday, March 29th. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating in a report on Thursday, March 29th. TheStreet downgraded shares of Plantronics from a “b” rating to a “c” rating in a report on Friday, February 2nd. Finally, Roth Capital raised their price objective on shares of Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. One equities research 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. The stock currently has an average rating of “Hold” and a consensus price target of $60.00.

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The firm has a market capitalization of $2,057.63, a P/E ratio of 24.88, a PEG ratio of 1.57 and a beta of 1.23. The company has a current ratio of 6.76, a quick ratio of 6.16 and a debt-to-equity ratio of 1.50.

Plantronics (NYSE:PLT) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.23. The company had revenue of $226.50 million during the quarter, compared to the consensus estimate of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. equities analysts predict that Plantronics will post 2.52 EPS for the current year.

In related news, insider Shantanu Sarkar sold 1,151 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $57.82, for a total transaction of $66,550.82. Following the completion of the sale, the insider now owns 17,564 shares in the company, valued at approximately $1,015,550.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian S. Dexheimer sold 500 shares of the stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $61.90, for a total transaction of $30,950.00. Following the sale, the director now owns 15,002 shares of the company’s stock, valued at approximately $928,623.80. The disclosure for this sale can be found here. Insiders have sold a total of 10,950 shares of company stock valued at $639,268 over the last ninety days. 3.20% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Plantronics by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 858,695 shares of the technology company’s stock worth $37,972,000 after purchasing an additional 18,134 shares in the last quarter. LSV Asset Management increased its position in shares of Plantronics by 2.6% during the 4th quarter. LSV Asset Management now owns 595,194 shares of the technology company’s stock worth $29,985,000 after purchasing an additional 14,900 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Plantronics by 11.1% during the 4th quarter. Macquarie Group Ltd. now owns 594,982 shares of the technology company’s stock worth $29,975,000 after purchasing an additional 59,476 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Plantronics by 12.2% during the 4th quarter. Renaissance Technologies LLC now owns 337,300 shares of the technology company’s stock worth $16,993,000 after purchasing an additional 36,600 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Plantronics by 7.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock worth $15,689,000 after purchasing an additional 22,414 shares in the last quarter. Institutional investors and hedge funds own 94.18% of the company’s stock.

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About Plantronics

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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