Plantronics Inc (NYSE:PLT) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $60.00.

PLT has been the subject of several analyst reports. Sidoti raised shares of Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, January 2nd. Northland Securities set a $60.00 price target on shares of Plantronics and gave the company a “buy” rating in a report on Friday, January 12th. TheStreet upgraded shares of Plantronics from a “c+” rating to a “b” rating in a research report on Friday, November 24th. Finally, Roth Capital raised their price objective on shares of Plantronics from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st.

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Shares of Plantronics (NYSE:PLT) traded down $0.46 during mid-day trading on Friday, reaching $58.26. 37,498 shares of the company traded hands, compared to its average volume of 178,752. Plantronics has a 12-month low of $41.28 and a 12-month high of $60.49. The company has a market cap of $1,955.10, a P/E ratio of 23.64, a P/E/G ratio of 1.56 and a beta of 1.39. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50.

Plantronics (NYSE:PLT) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.23. Plantronics had a net margin of 1.03% and a return on equity of 22.22%. The firm had revenue of $226.50 million during the quarter, compared to the consensus estimate of $220.17 million. During the same period last year, the firm posted $0.79 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. equities research analysts predict that Plantronics will post 2.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Tuesday, February 20th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, February 16th. Plantronics’s payout ratio is presently 285.73%.

In other Plantronics news, Director Brian S. Dexheimer sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $58.52, for a total value of $146,300.00. Following the completion of the sale, the director now owns 18,002 shares in the company, valued at approximately $1,053,477.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph B. Burton sold 5,117 shares of Plantronics 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 sale, the chief executive officer now owns 89,685 shares of the company’s stock, valued at approximately $5,157,784.35. The disclosure for this sale can be found here. Insiders sold a total of 8,799 shares of company stock valued at $508,823 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Large investors have recently modified their holdings of the company. American International Group Inc. grew its position in shares of Plantronics by 3.1% during the 3rd quarter. American International Group Inc. now owns 91,089 shares of the technology company’s stock worth $4,028,000 after buying an additional 2,775 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Plantronics by 7.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock worth $15,689,000 after buying an additional 22,414 shares during the period. Bessemer Group Inc. grew its position in shares of Plantronics by 25.9% during the 3rd quarter. Bessemer Group Inc. now owns 38,400 shares of the technology company’s stock worth $1,698,000 after buying an additional 7,900 shares during the period. Shell Asset Management Co. acquired a new position in Plantronics during the fourth quarter valued at approximately $7,920,000. Finally, Dean Investment Associates LLC acquired a new position in Plantronics during the third quarter valued at approximately $2,968,000. Institutional investors own 94.12% of the company’s stock.

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About Plantronics

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.

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