Plantronics Inc (PLT) Stake Lessened by Bank of America Corp DE

Bank of America Corp DE lessened its stake in shares of Plantronics Inc (NYSE:PLT) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,209 shares of the technology company’s stock after selling 35,648 shares during the quarter. Bank of America Corp DE’s holdings in Plantronics were worth $5,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Investments LP purchased a new position in shares of Plantronics in the fourth quarter valued at $7,615,000. Lord Abbett & CO. LLC boosted its stake in Plantronics by 1.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,128,303 shares of the technology company’s stock worth $37,347,000 after buying an additional 13,146 shares during the period. Dimensional Fund Advisors LP boosted its stake in Plantronics by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 928,874 shares of the technology company’s stock worth $30,745,000 after buying an additional 59,013 shares during the period. Blueshift Asset Management LLC purchased a new position in Plantronics during the fourth quarter worth $1,477,000. Finally, GSA Capital Partners LLP boosted its stake in Plantronics by 0.7% during the fourth quarter. GSA Capital Partners LLP now owns 49,727 shares of the technology company’s stock worth $1,646,000 after buying an additional 329 shares during the period. 97.57% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Brian S. Dexheimer acquired 10,427 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was bought at an average cost of $46.08 per share, with a total value of $480,476.16. Following the completion of the purchase, the director now directly owns 29,027 shares of the company’s stock, valued at $1,337,564.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Guido Jouret acquired 1,500 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were purchased at an average cost of $49.03 per share, with a total value of $73,545.00. Following the completion of the purchase, the director now directly owns 4,988 shares of the company’s stock, valued at $244,561.64. The disclosure for this purchase can be found here. 1.70% of the stock is owned by insiders.

Several research analysts have commented on PLT shares. Northland Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Plantronics in a research note on Thursday, March 21st. Zacks Investment Research raised shares of Plantronics from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Thursday, February 7th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Plantronics has an average rating of “Buy” and a consensus target price of $65.00.

NYSE PLT opened at $52.41 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 2.32. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 19.34 and a beta of 1.49. Plantronics Inc has a 52 week low of $30.90 and a 52 week high of $82.28.

Plantronics (NYSE:PLT) last posted its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.42 by $0.70. The company had revenue of $530.60 million during the quarter, compared to analyst estimates of $507.87 million. Plantronics had a negative net margin of 7.32% and a positive return on equity of 20.15%. Plantronics’s quarterly revenue was up 134.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 earnings per share. Analysts predict that Plantronics Inc will post 3.87 EPS for the current fiscal year.

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About Plantronics

Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.

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Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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