Plantronics Inc (NYSE:PLT) Director Guido Jouret bought 1,500 shares of Plantronics stock in a transaction on Tuesday, February 19th. The shares were purchased at an average cost of $49.03 per share, for a total transaction of $73,545.00. Following the acquisition, the director now owns 4,988 shares in the company, valued at $244,561.64. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
NYSE:PLT traded down $0.58 during trading hours on Wednesday, reaching $48.61. 440,672 shares of the stock were exchanged, compared to its average volume of 544,208. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 2.32. Plantronics Inc has a 52 week low of $30.90 and a 52 week high of $82.28. The company has a market cap of $1.96 billion, a PE ratio of 17.94 and a beta of 1.39.
Plantronics (NYSE:PLT) last announced its quarterly earnings results on Tuesday, February 5th. The technology company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.70. The business had revenue of $530.60 million for the quarter, compared to the consensus estimate of $507.87 million. Plantronics had a positive return on equity of 20.15% and a negative net margin of 7.32%. The business’s revenue was up 134.3% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. As a group, sell-side analysts expect that Plantronics Inc will post 3.87 EPS for the current fiscal year.
Plantronics announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 29th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its position in 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 acquiring an additional 216 shares during the period. Dupont Capital Management Corp acquired a new stake in Plantronics in the 4th quarter valued at approximately $166,000. Signition LP increased its position in Plantronics by 53.1% in the 4th quarter. Signition LP now owns 6,222 shares of the technology company’s stock valued at $206,000 after acquiring an additional 2,158 shares during the period. Tower Research Capital LLC TRC increased its position in Plantronics by 95.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the technology company’s stock valued at $218,000 after acquiring an additional 1,761 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in Plantronics in the 3rd quarter valued at approximately $230,000. 95.38% of the stock is currently owned by institutional investors and hedge funds.
PLT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Plantronics from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 14th. ValuEngine downgraded Plantronics from a “buy” rating to a “hold” rating in a report on Monday, November 12th.
Plantronics Company Profile
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's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.
See Also: Initial Public Offering (IPO)
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