Insider Selling: Plantronics Director Unloads 5,000 Shares of Stock (PLT)
Plantronics (NYSE:PLT) Director Marvin Tseu unloaded 5,000 shares of Plantronics stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $41.30, for a total transaction of $206,500.00. Following the completion of the sale, the director now directly owns 15,608 shares of the company’s stock, valued at approximately $644,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks upgraded shares of Plantronics from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 31st. They now have a $47.50 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $50.88.
Shares of Plantronics (NYSE:PLT) traded up 0.07% on Wednesday, hitting $41.86. 192,271 shares of the company’s stock traded hands. Plantronics has a 1-year low of $39.41 and a 1-year high of $49.84. The stock’s 50-day moving average is $44.39 and its 200-day moving average is $45.0. The company has a market cap of $1.777 billion and a P/E ratio of 16.03.
Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, January 28th. The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.63 by $0.13. The company had revenue of $212.70 million for the quarter, compared to the consensus estimate of $205.50 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts predict that Plantronics will post $2.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 10th. Shareholders of record on Thursday, February 20th will be paid a dividend of 0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Tuesday, February 18th.
Plantronics, Inc is a designer, manufacturer and marketer of lightweight communications headsets, telephone headset systems and accessories for the worldwide business and consumer markets under the Plantronics brand.
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