Plantronics Inc (NYSE:PLT) CEO Joseph B. Burton sold 5,117 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $57.51, for a total transaction of $294,278.67. Following the transaction, the chief executive officer now directly owns 89,685 shares of the company’s stock, valued at $5,157,784.35. The sale was disclosed in a document filed with the SEC, which is available through this link.
Plantronics Inc (NYSE:PLT) traded up $0.24 during mid-day trading on Thursday, reaching $56.70. 30,863 shares of the company’s stock traded hands, compared to its average volume of 182,531. The stock has a market cap of $1,845.62, a PE ratio of 22.32, a P/E/G ratio of 1.48 and a beta of 1.37. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.76 and a quick ratio of 6.16. Plantronics Inc has a 12-month low of $41.28 and a 12-month high of $60.49.
Plantronics (NYSE:PLT) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.23. The company had revenue of $226.50 million for the quarter, compared to analyst estimates of $220.17 million. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. Plantronics’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.79 EPS. equities analysts anticipate that Plantronics Inc will post 2.52 earnings per share for the current year.
Several analysts have commented on the stock. TheStreet cut shares of Plantronics from a “b” rating to a “c” rating in a research note on Friday, February 2nd. Sidoti cut shares of Plantronics from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research note on Thursday, February 1st. Roth Capital lifted their target price on shares of Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Northland Securities set a $60.00 target price on shares of Plantronics and gave the stock a “buy” rating in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Plantronics has an average rating of “Hold” and an average price target of $60.00.
Several institutional investors and hedge funds have recently made changes to their positions in PLT. C M Bidwell & Associates Ltd. acquired a new position in shares of Plantronics in the 4th quarter valued at $195,000. M&T Bank Corp boosted its holdings in shares of Plantronics by 13.9% in the 2nd quarter. M&T Bank Corp now owns 4,484 shares of the technology company’s stock valued at $235,000 after purchasing an additional 546 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Plantronics by 69.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,659 shares of the technology company’s stock valued at $235,000 after purchasing an additional 1,904 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Plantronics in the 4th quarter valued at $240,000. Finally, OxFORD Asset Management LLP acquired a new position in shares of Plantronics in the 2nd quarter valued at $243,000. Institutional investors own 90.98% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece was published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://weekherald.com/2018/02/15/joseph-b-burton-sells-5117-shares-of-plantronics-inc-plt-stock.html.
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.
Receive News & Ratings for Plantronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics and related companies with MarketBeat.com's FREE daily email newsletter.