Peregrine Capital Management LLC purchased a new stake in shares of Plantronics Inc (NYSE:PLT) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 176,534 shares of the technology company’s stock, valued at approximately $8,140,000. Peregrine Capital Management LLC owned about 0.45% of Plantronics at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its position in Plantronics by 4.9% during the fourth quarter. BlackRock Inc. now owns 4,183,299 shares of the technology company’s stock valued at $138,466,000 after acquiring an additional 193,974 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Plantronics by 4.5% in the third quarter. Vanguard Group Inc. now owns 3,380,686 shares of the technology company’s stock worth $203,856,000 after purchasing an additional 145,823 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Plantronics by 4.5% in the third quarter. Vanguard Group Inc now owns 3,380,686 shares of the technology company’s stock worth $203,856,000 after purchasing an additional 145,823 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Plantronics by 2.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,901,202 shares of the technology company’s stock worth $114,642,000 after purchasing an additional 51,429 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Plantronics by 1.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,128,303 shares of the technology company’s stock worth $37,347,000 after purchasing an additional 13,146 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.
Several research analysts have recently issued reports on PLT shares. Northland Securities restated a “buy” rating and issued a $85.00 target price on shares of Plantronics in a report on Thursday, March 21st. Zacks Investment Research upgraded shares of Plantronics from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday, February 7th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $65.00.
In related news, Director Guido Jouret purchased 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were acquired at an average price of $49.03 per share, for a total transaction of $73,545.00. Following the completion of the acquisition, the director now directly owns 4,988 shares in the company, valued at approximately $244,561.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian S. Dexheimer purchased 10,427 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was bought at an average price of $46.08 per share, for a total transaction 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 currently owned by company insiders.
Shares of Plantronics stock opened at $52.74 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.26 and a debt-to-equity ratio of 2.32. Plantronics Inc has a 52-week low of $30.90 and a 52-week high of $82.28. The company has a market capitalization of $2.08 billion, a PE ratio of 19.46 and a beta of 1.49.
Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, February 5th. The technology company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.70. Plantronics had a negative net margin of 7.32% and a positive return on equity of 20.15%. The firm had revenue of $530.60 million for the quarter, compared to analysts’ expectations of $507.87 million. During the same quarter last year, the business earned $1.02 earnings per share. The business’s revenue was up 134.3% on a year-over-year basis. As a group, analysts predict that Plantronics Inc will post 3.87 EPS for the current year.
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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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