Shares in Plantronics, Inc. (PLT) Acquired by OppenheimerFunds Inc

Paterniano Del Favero
Agosto 5, 2017

Plantronics (NYSE:PLT) last posted its quarterly earnings data on Thursday, July 27th. The firm owned 7,550 shares of the technology company's stock after selling 750 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Plantronics were worth $409,000 as of its most recent SEC filing. The fund owned 143,612 shares of the technology company's stock after buying an additional 46,780 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Plantronics during the second quarter valued at approximately $2,884,000. Renaissance Technologies LLC boosted its position in shares of Plantronics by 14.5% in the fourth quarter. Renaissance Technologies LLC now owns 76,700 shares of the technology company's stock worth $4,200,000 after buying an additional 9,700 shares during the period. Norges Bank bought a new position in shares of Plantronics during the fourth quarter valued at about $24,254,000. Finally, Swiss National Bank increased its position in Plantronics by 1.3% in the first quarter. Elkfork Partners LLC now owns 2,268 shares of the technology company's stock valued at $123,000 after buying an additional 448 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in Plantronics by 24.6% in the first quarter. Meadow Creek Investment Management LLC now owns 2,754 shares of the technology company's stock valued at $149,000 after buying an additional 544 shares in the last quarter.

$168 worth of Plantronics Inc (NYSE:PLT) shares were sold by DEXHEIMER BRIAN S. $944,125 worth of Plantronics Inc (NYSE:PLT) was sold by HOUSTON DONALD S on Monday, February 13. (NYSE:PLT) traded down 0.27% during midday trading on Friday, hitting $44.65. Institutional investors own 90.88% of the company's stock. Plantronics, Inc. has a 12-month low of $43.51 and a 12-month high of $58.27. The firm's 50 day moving average price is $52.41 and its 200-day moving average price is $53.69. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 18.18 and a beta of 1.27. About shares traded. Plantronics Inc (NYSE:PLT) has risen 26.11% since August 4, 2016 and is uptrending. Jacobs Levy Equity Mgmt invested 0.02% of its portfolio in Plantronics Inc (NYSE:PLT). During the same quarter previous year, the firm posted $0.76 earnings per share. The firm had revenue of $203.90 million for the quarter, compared to analyst estimates of $217.11 million. Equities analysts forecast that Plantronics will post $2.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 18th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.34%. Also, Director Marshall Mohr sold 3,000 shares of the business's stock in a transaction dated Wednesday, May 17th. Plantronics's payout ratio is now 24.29%.

Plantronics declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 27th that permits the company to buyback 1,000,000 shares. Envestnet Asset Management Inc. now owns 4,096 shares of the technology company's stock worth $222,000 after buying an additional 312 shares during the period. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued. (NYSE:PLT) from a hold rating to a sell rating in a research report report published on Thursday. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and worldwide copyright & trademark law. The legal version of this report can be viewed at https://www.com-unik.info/2017/08/05/plantronics-inc-plt-position-increased-by-bank-of-america-corp-de-updated.html. Zacks Investment Research lowered Plantronics from a "hold" rating to a "sell" rating in a research report on Thursday. J P Morgan Chase & Co lowered shares of Plantronics from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $63.00 to $60.00 in a report on Friday, July 28th. Finally, BidaskClub cut shares of Plantronics from a "sell" rating to a "strong sell" rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock now has a consensus rating of Hold and a consensus target price of $58.25. The stock was sold at an average price of $54.50, for a total transaction of $193,257.00. Following the completion of the transaction, the director now directly owns 20,084 shares in the company, valued at $1,094,578. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

In other news, Director Marvin Tseu sold 3,546 shares of the business's stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $53.14, for a total value of $159,420.00. Following the transaction, the director now owns 22,384 shares of the company's stock, valued at $1,189,485.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,586 shares of company stock valued at $354,913.

According to Zacks, "Plantronics, Inc.is a leading designer, manufacturer and marketer of lightweight communications headsets and headset accessories and services". In addition, the company manufactures and markets specialty telephone products, such as amplified telephone handsets and specialty telephones for hearing-impaired users, and noise-canceling handsets for use in high-noise environments.

A number of other large investors have also recently made changes to their positions in PLT.

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