Deprince Race & Zollo Inc. grew its stake in shares of Plantronics Inc (NYSE:PLT) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,093 shares of the technology company’s stock after buying an additional 25,409 shares during the period. Deprince Race & Zollo Inc. owned 1.17% of Plantronics worth $21,353,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PLT. Norges Bank purchased a new position in shares of Plantronics during the fourth quarter worth about $25,933,000. Two Sigma Investments LP purchased a new position in shares of Plantronics during the fourth quarter worth about $7,615,000. BlackRock Inc. grew its holdings in shares of Plantronics by 5.4% during the third quarter. BlackRock Inc. now owns 3,989,325 shares of the technology company’s stock worth $240,556,000 after purchasing an additional 204,326 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Plantronics during the first quarter worth about $8,140,000. Finally, AQR Capital Management LLC grew its holdings in shares of Plantronics by 119.5% during the third quarter. AQR Capital Management LLC now owns 317,608 shares of the technology company’s stock worth $19,152,000 after purchasing an additional 172,891 shares in the last quarter. 97.57% of the stock is owned by institutional investors.
Shares of NYSE:PLT traded down $0.42 during trading on Thursday, reaching $52.26. 3,828 shares of the company traded hands, compared to its average volume of 454,649. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.26 and a current ratio of 1.53. The firm has a market cap of $2.03 billion, a PE ratio of 19.35 and a beta of 1.49. Plantronics Inc has a 52-week low of $30.90 and a 52-week high of $82.28.
Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, February 5th. The technology company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.70. The company had revenue of $530.60 million during the quarter, compared to the consensus estimate of $507.87 million. Plantronics had a positive return on equity of 20.15% and a negative net margin of 7.32%. The firm’s revenue for the quarter was up 134.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. Research analysts predict that Plantronics Inc will post 3.87 EPS for the current year.
Several research analysts have recently commented on PLT shares. Northland Securities reissued a “buy” rating and set a $85.00 price objective on shares of Plantronics in a report on Thursday, March 21st. Zacks Investment Research raised Plantronics from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Thursday, February 7th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.00.
In related news, Director Marvin Tseu sold 4,238 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $48.88, for a total transaction of $207,153.44. Following the completion of the transaction, the director now owns 24,876 shares in the company, valued at $1,215,938.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brian S. Dexheimer bought 10,427 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were acquired at an average price of $46.08 per share, with a total value of $480,476.16. Following the acquisition, the director now owns 29,027 shares of the company’s stock, valued at $1,337,564.16. The disclosure for this purchase can be found here. 1.70% of the stock is owned by corporate insiders.
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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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