Shares of Plantronics, Inc. (NYSE:PLT) have been assigned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $60.00.

A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. TheStreet lowered shares of Plantronics from a “b-” rating to a “c+” rating in a report on Monday, August 21st. J P Morgan Chase & Co lowered shares of Plantronics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $63.00 to $60.00 in a report on Friday, July 28th. Northland Securities set a $57.00 price target on shares of Plantronics and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Plantronics from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th.

Several hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Plantronics during the 2nd quarter valued at $951,000. WINTON GROUP Ltd grew its holdings in shares of Plantronics by 55.9% during the 2nd quarter. WINTON GROUP Ltd now owns 16,469 shares of the technology company’s stock valued at $861,000 after purchasing an additional 5,904 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of Plantronics by 6,554.8% during the 2nd quarter. Koch Industries Inc. now owns 248,691 shares of the technology company’s stock valued at $244,000 after purchasing an additional 244,954 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Plantronics by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 73,430 shares of the technology company’s stock valued at $3,841,000 after purchasing an additional 924 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Plantronics by 9.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 282,324 shares of the technology company’s stock valued at $14,768,000 after purchasing an additional 24,094 shares during the last quarter. 91.19% of the stock is currently owned by institutional investors.

Shares of Plantronics (PLT) opened at 43.27 on Friday. The firm has a 50-day moving average of $43.03 and a 200-day moving average of $50.99. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 17.59 and a beta of 1.26. Plantronics has a 12 month low of $41.28 and a 12 month high of $58.27.

Plantronics (NYSE:PLT) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The company had revenue of $203.90 million during the quarter, compared to the consensus estimate of $217.11 million. Plantronics had a return on equity of 21.31% and a net margin of 9.40%. Plantronics’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. On average, analysts anticipate that Plantronics will post $2.88 EPS for the current year.

Plantronics declared that its board has approved a stock buyback plan on Thursday, July 27th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 16th. Plantronics’s dividend payout ratio is currently 24.29%.

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About Plantronics

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

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