First Citizens Bank & Trust Co. reduced its stake in shares of Plantronics Inc (NYSE:PLT) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,075 shares of the technology company’s stock after selling 1,285 shares during the period. First Citizens Bank & Trust Co.’s holdings in Plantronics were worth $306,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLT. Acrospire Investment Management LLC purchased a new position in shares of Plantronics during the 2nd quarter worth about $126,000. Riverhead Capital Management LLC lifted its holdings in shares of Plantronics by 85.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,597 shares of the technology company’s stock worth $136,000 after acquiring an additional 1,197 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Plantronics by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,304 shares of the technology company’s stock worth $173,000 after acquiring an additional 494 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Plantronics by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,839 shares of the technology company’s stock worth $201,000 after acquiring an additional 31 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Plantronics by 13.9% during the 2nd quarter. M&T Bank Corp now owns 4,484 shares of the technology company’s stock worth $235,000 after acquiring an additional 546 shares during the period. Institutional investors and hedge funds own 90.89% of the company’s stock.

Several research firms recently commented on PLT. Northland Securities set a $60.00 price target on shares of Plantronics and gave the company a “buy” rating in a report on Friday. Sidoti upgraded shares of Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, January 2nd. TheStreet upgraded shares of Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Roth Capital set a $55.00 price target on shares of Plantronics and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $58.75.

In other news, Director John Hart sold 21,083 shares of Plantronics stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $52.56, for a total transaction of $1,108,122.48. Following the sale, the director now owns 11,094 shares in the company, valued at $583,100.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Martinez sold 2,874 shares of Plantronics stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.25, for a total transaction of $147,292.50. Following the sale, the director now owns 7,389 shares in the company, valued at approximately $378,686.25. The disclosure for this sale can be found here. Insiders sold 27,145 shares of company stock worth $1,420,777 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Plantronics Inc (NYSE PLT) opened at $55.04 on Friday. Plantronics Inc has a 1-year low of $41.28 and a 1-year high of $58.27. The company has a debt-to-equity ratio of 1.27, a current ratio of 6.44 and a quick ratio of 5.90. The company has a market cap of $1,797.47, a P/E ratio of 22.65, a P/E/G ratio of 1.65 and a beta of 1.31.

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Plantronics Profile

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.

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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