Plantronics Director Sells 5,000 Shares of Stock (PLT)
Plantronics (NYSE:PLT) Director Brian S. Dexheimer sold 5,000 shares of the stock on the open market in a transaction dated Thursday, August 14th. The stock was sold at an average price of $47.32, for a total transaction of $236,600.00. Following the transaction, the director now directly owns 12,840 shares in the company, valued at approximately $607,589. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Plantronics (NYSE:PLT) traded down 0.99% during mid-day trading on Friday, hitting $46.79. The stock had a trading volume of 123,478 shares. Plantronics has a 52-week low of $41.14 and a 52-week high of $49.87. The stock’s 50-day moving average is $47.45 and its 200-day moving average is $45.0. The company has a market cap of $1.947 billion and a P/E ratio of 17.83.
Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, July 29th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.08. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.95 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Plantronics will post $3.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Monday, August 18th.
PLT has been the subject of a number of recent research reports. Analysts at Roth Capital raised their price target on shares of Plantronics from $53.00 to $55.00 in a research note on Thursday, July 31st. Separately, analysts at Zacks upgraded shares of Plantronics from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $50.40 price target on the stock. Finally, analysts at Northland Securities raised their price target on shares of Plantronics from $51.00 to $53.00 in a research note on Wednesday, July 30th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $54.20.
Plantronics, Inc (NYSE:PLT) is a global designer, manufacturer, and marketer of lightweight communications headsets, telephone headset systems, and accessories for the business and consumer markets under the Plantronics brand.
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