ClariVest Asset Management LLC bought a new stake in Plantronics Inc (NYSE:PLT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 27,400 shares of the technology company’s stock, valued at approximately $1,653,000. ClariVest Asset Management LLC owned approximately 0.07% of Plantronics as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Quadrant L P CA boosted its holdings in shares of Plantronics by 6.7% in the third quarter. First Quadrant L P CA now owns 21,360 shares of the technology company’s stock valued at $1,288,000 after acquiring an additional 1,350 shares in the last quarter. Trellus Management Company LLC purchased a new stake in shares of Plantronics in the third quarter valued at about $1,055,000. Meeder Asset Management Inc. boosted its holdings in shares of Plantronics by 10.3% in the third quarter. Meeder Asset Management Inc. now owns 15,385 shares of the technology company’s stock valued at $927,000 after acquiring an additional 1,438 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Plantronics by 4.2% in the second quarter. BlackRock Inc. now owns 3,784,999 shares of the technology company’s stock valued at $288,606,000 after acquiring an additional 152,066 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Plantronics by 104.0% in the second quarter. Millennium Management LLC now owns 40,008 shares of the technology company’s stock valued at $3,051,000 after acquiring an additional 20,400 shares in the last quarter. 77.45% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on PLT. Zacks Investment Research downgraded shares of Plantronics from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 14th. ValuEngine downgraded shares of Plantronics from a “buy” rating to a “hold” rating in a report on Monday, November 12th. TheStreet downgraded shares of Plantronics from a “b-” rating to a “c+” rating in a report on Friday, September 14th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $68.00.

In related news, CEO Joseph B. Burton sold 4,727 shares of the business’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 owns 123,599 shares of the company’s stock, valued at $7,347,960.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 4,820 shares of company stock worth $286,736. 1.70% of the stock is owned by insiders.

PLT stock opened at $48.34 on Wednesday. The stock has a market cap of $2.09 billion, a P/E ratio of 17.84 and a beta of 1.09. Plantronics Inc has a 52 week low of $46.52 and a 52 week high of $82.28. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 2.18.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Tuesday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, November 19th. Plantronics’s dividend payout ratio is currently 22.14%.

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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.

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Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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