Plantronics Insider Philip Vanhoutte Unloads 5,000 Shares (PLT)
Plantronics (NYSE:PLT) Insider Philip Vanhoutte sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $47.01, for a total value of $235,050.00. Following the completion of the transaction, the insider now directly owns 41,824 shares of the company’s stock, valued at approximately $1,966,146. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on PLT shares. 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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.20.
Shares of Plantronics (NYSE:PLT) traded down 0.15% during mid-day trading on Wednesday, hitting $47.04. 110,609 shares of the company’s stock traded hands. 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 $47.40 and its 200-day moving average is $45.11. The company has a market cap of $1.958 billion and a price-to-earnings ratio of 17.78.
Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.70 earnings per share. Plantronics’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Plantronics will post $3.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, August 18th.
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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