Hanson & Doremus Investment Management Acquires 1,903 Shares of Plantronics Inc (NYSE:PLT)

Hanson & Doremus Investment Management raised its position in shares of Plantronics Inc (NYSE:PLT) by 11.0% during the fourth quarter, HoldingsChannel reports. The fund owned 19,210 shares of the technology company’s stock after acquiring an additional 1,903 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Plantronics were worth $525,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Plantronics by 49.7% during the 2nd quarter. Royal Bank of Canada now owns 1,370 shares of the technology company’s stock worth $51,000 after purchasing an additional 455 shares during the period. First Mercantile Trust Co. increased its holdings in shares of Plantronics by 25.8% in the 3rd quarter. First Mercantile Trust Co. now owns 1,502 shares of the technology company’s stock valued at $56,000 after acquiring an additional 308 shares during the period. Boston Partners purchased a new position in shares of Plantronics in the 3rd quarter valued at $90,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Plantronics by 23.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,403 shares of the technology company’s stock valued at $90,000 after acquiring an additional 452 shares during the period. Finally, Point72 Hong Kong Ltd increased its holdings in shares of Plantronics by 38.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,574 shares of the technology company’s stock valued at $95,000 after acquiring an additional 717 shares during the period. Institutional investors and hedge funds own 99.87% of the company’s stock.

Shares of NYSE:PLT traded up $1.11 during midday trading on Thursday, hitting $34.27. The company’s stock had a trading volume of 16,977 shares, compared to its average volume of 465,352. Plantronics Inc has a 12-month low of $22.80 and a 12-month high of $53.92. The company has a market cap of $1.29 billion, a P/E ratio of 8.66 and a beta of 1.41. The company has a debt-to-equity ratio of 2.46, a quick ratio of 0.99 and a current ratio of 1.38. The business’s 50 day simple moving average is $26.68 and its 200 day simple moving average is $31.86.

Plantronics (NYSE:PLT) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.18. Plantronics had a positive return on equity of 24.27% and a negative net margin of 7.13%. The business had revenue of $461.71 million during the quarter, compared to analyst estimates of $478.38 million. During the same period in the prior year, the business earned $1.51 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Plantronics Inc will post 1.87 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Plantronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 8th. Northland Securities assumed coverage on Plantronics in a report on Friday, November 22nd. They issued a “hold” rating and a $35.00 price target on the stock. TheStreet cut Plantronics from a “c-” rating to a “d+” rating in a research report on Wednesday, December 4th. Morgan Stanley initiated coverage on shares of Plantronics in a research report on Thursday, September 19th. They set an “overweight” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of Plantronics in a research note on Thursday, December 5th. They set a “neutral” rating and a $33.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $52.14.

In other news, Director Brian S. Dexheimer acquired 3,699 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of $25.89 per share, with a total value of $95,767.11. Following the completion of the acquisition, the director now owns 75,737 shares of the company’s stock, valued at approximately $1,960,830.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian S. Dexheimer acquired 6,124 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average price of $24.88 per share, with a total value of $152,365.12. Following the completion of the transaction, the director now owns 59,536 shares of the company’s stock, valued at approximately $1,481,255.68. The disclosure for this purchase can be found here. 1.70% of the stock is owned by insiders.

Plantronics Company Profile

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.

Featured Story: What is the definition of a trade war?

Want to see what other hedge funds are holding PLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plantronics Inc (NYSE:PLT).

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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.