Deutsche Bank AG increased its stake in shares of Plantronics Inc (NYSE:PLT) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 394,488 shares of the technology company’s stock after buying an additional 10,335 shares during the quarter. Deutsche Bank AG owned about 1.00% of Plantronics worth $13,056,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in PLT. Norges Bank purchased a new position in Plantronics during the fourth quarter worth approximately $25,933,000. Deprince Race & Zollo Inc. purchased a new position in Plantronics during the fourth quarter worth approximately $14,487,000. Two Sigma Investments LP purchased a new position in Plantronics during the fourth quarter worth approximately $7,615,000. BlackRock Inc. lifted its position in 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 buying an additional 204,326 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in 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 buying an additional 172,891 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.
In other Plantronics news, Director Guido Jouret bought 1,500 shares of Plantronics stock in a transaction on Tuesday, February 19th. The shares were bought at an average price of $49.03 per share, for a total transaction of $73,545.00. Following the completion of the transaction, the director now directly owns 4,988 shares of the company’s stock, valued at $244,561.64. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marvin Tseu sold 4,238 shares of Plantronics stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $48.88, for a total value of $207,153.44. Following the completion of the sale, the director now owns 24,876 shares in the company, valued at approximately $1,215,938.88. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
NYSE:PLT opened at $51.54 on Tuesday. Plantronics Inc has a 52 week low of $30.90 and a 52 week high of $82.28. The company has a current ratio of 1.53, a quick ratio of 1.26 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.02 and a beta of 1.49.
Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, February 5th. The technology company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.70. Plantronics had a positive return on equity of 20.15% and a negative net margin of 7.32%. The company had revenue of $530.60 million for the quarter, compared to the consensus estimate of $507.87 million. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 134.3% on a year-over-year basis. On average, research analysts predict that Plantronics Inc will post 3.87 EPS for the current fiscal year.
A number of equities analysts recently commented on PLT shares. Zacks Investment Research upgraded Plantronics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Northland Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Plantronics in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $65.00.
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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