Northland Securities restated their buy rating on shares of Plantronics (NYSE:PLT) in a research report sent to investors on Wednesday, AnalystRatings.com reports. Northland Securities currently has a $85.00 target price on the technology company’s stock.
Separately, Zacks Investment Research upgraded Plantronics from a strong sell rating to a hold rating in a research report on Wednesday, January 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $65.00.
PLT stock traded down $2.91 during midday trading on Wednesday, hitting $45.06. The stock had a trading volume of 32,787 shares, compared to its average volume of 437,202. The stock has a market cap of $2.10 billion, a P/E ratio of 16.50 and a beta of 1.52. Plantronics 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 2.32, a current ratio of 1.53 and a quick ratio of 1.26.
Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, May 7th. The technology company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.93 by $0.22. The firm had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $481.43 million. Plantronics had a positive return on equity of 20.15% and a negative net margin of 7.32%. Plantronics’s quarterly revenue was up 125.9% compared to the same quarter last year. During the same period last year, the business earned $1.05 earnings per share. Equities research analysts anticipate that Plantronics will post 3.87 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, May 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. Plantronics’s payout ratio is currently 22.14%.
In related news, Director Guido Jouret bought 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was bought at an average cost of $49.03 per share, for a total transaction of $73,545.00. Following the transaction, the director now owns 4,988 shares of the company’s stock, valued at $244,561.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian S. Dexheimer bought 10,427 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were bought at an average price of $46.08 per share, with a total value of $480,476.16. Following the completion of the transaction, the director now directly owns 29,027 shares in the company, valued at approximately $1,337,564.16. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC grew its position in shares of Plantronics by 38.4% in the 4th quarter. Penserra Capital Management LLC now owns 778 shares of the technology company’s stock valued at $25,000 after purchasing an additional 216 shares during the period. Dupont Capital Management Corp bought a new stake in Plantronics in the 4th quarter valued at approximately $166,000. Virtu Financial LLC bought a new stake in Plantronics in the 1st quarter valued at approximately $232,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Plantronics in the 1st quarter valued at approximately $239,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Plantronics in the 1st quarter valued at approximately $266,000. Institutional investors own 99.29% of the company’s stock.
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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