Plantronics Inc. (NYSE:PLT)’s share price gapped up before the market opened on Monday . The stock had previously closed at $50.01, but opened at $50.05. Plantronics shares last traded at $50.70, with a volume of 25,251 shares.

A number of brokerages have recently issued reports on PLT. Zacks Investment Research upgraded shares of Plantronics from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, May 10th. Raymond James Financial Inc. upgraded shares of Plantronics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 4th. JPMorgan Chase & Co. restated a “buy” rating and set a $49.00 target price on shares of Plantronics in a research report on Monday, May 2nd. Finally, TheStreet upgraded shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.00.

The firm’s 50-day moving average price is $48.95 and its 200-day moving average price is $42.66. The stock has a market cap of $1.63 billion and a PE ratio of 25.10.

Plantronics (NYSE:PLT) last released its earnings results on Tuesday, August 2nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The business earned $223.10 million during the quarter, compared to analyst estimates of $216.70 million. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. Equities research analysts anticipate that Plantronics Inc. will post $3.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 19th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 17th.

In other news, CEO S Kenneth Kannappan sold 2,590 shares of Plantronics stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $50.00, for a total transaction of $129,500.00. Following the sale, the chief executive officer now owns 137,687 shares of the company’s stock, valued at approximately $6,884,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Dexheimer sold 4,000 shares of Plantronics stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $49.97, for a total value of $199,880.00. Following the sale, the director now directly owns 18,384 shares in the company, valued at approximately $918,648.48. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Plantronics stock. RS Investment Management Co. LLC boosted its stake in Plantronics Inc. (NYSE:PLT) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,642 shares of the company’s stock after buying an additional 27,650 shares during the period. RS Investment Management Co. LLC owned 0.62% of Plantronics worth $9,514,000 at the end of the most recent quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.