Plantronics (PLT) Reaches New 1-Year Low at $40.33

Plantronics Inc (NYSE:PLT)’s share price hit a new 52-week low on Thursday . The company traded as low as $40.33 and last traded at $40.80, with a volume of 62198 shares. The stock had previously closed at $43.15.

A number of brokerages recently weighed in on PLT. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. TheStreet downgraded shares of Plantronics from a “b-” rating to a “c+” rating in a report on Friday, September 14th. Zacks Investment Research downgraded shares of Plantronics from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, ValuEngine downgraded shares of Plantronics from a “buy” rating to a “hold” rating in a report on Monday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $68.00.

The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 15.15 and a beta of 1.03.



Plantronics (NYSE:PLT) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($1.05). The business had revenue of $483.07 million for the quarter, compared to analysts’ expectations of $506.32 million. Plantronics had a negative net margin of 9.75% and a positive return on equity of 20.46%. Plantronics’s revenue for the quarter was up 129.7% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. On average, analysts anticipate that Plantronics Inc will post 1.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Monday, November 19th. Plantronics’s dividend payout ratio (DPR) is presently 22.14%.

Plantronics announced that its board has approved a stock buyback plan on Thursday, November 29th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other Plantronics news, insider Jeff Loebbaka sold 4,614 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $45.02, for a total transaction of $207,722.28. Following the sale, the insider now directly owns 36,186 shares of the company’s stock, valued at $1,629,093.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph B. Burton sold 4,727 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $59.45, for a total transaction of $281,020.15. Following the sale, the chief executive officer now directly owns 123,599 shares in the company, valued at $7,347,960.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,403 shares of company stock worth $492,419. Insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLT. BNP Paribas Arbitrage SA lifted its holdings in Plantronics by 8.8% during the second quarter. BNP Paribas Arbitrage SA now owns 10,029 shares of the technology company’s stock valued at $765,000 after purchasing an additional 808 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Plantronics in the second quarter worth about $242,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Plantronics in the second quarter worth about $685,000. Sei Investments Co. lifted its holdings in shares of Plantronics by 41.2% in the second quarter. Sei Investments Co. now owns 58,314 shares of the technology company’s stock worth $4,446,000 after buying an additional 17,001 shares in the last quarter. Finally, EAM Investors LLC purchased a new stake in shares of Plantronics in the second quarter worth about $3,433,000. 97.51% of the stock is currently owned by institutional investors and hedge funds.

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Plantronics Company Profile (NYSE:PLT)

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.

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