ValuEngine downgraded shares of Plantronics (NYSE:PLT) from a buy rating to a hold rating in a research note published on Monday morning.

A number of other analysts have also recently commented on PLT. Sidoti upgraded Plantronics from a neutral rating to a buy rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. TheStreet lowered Plantronics from a b- rating to a c+ rating in a research note on Friday, September 14th. Finally, Zacks Investment Research lowered Plantronics from a buy rating to a hold rating in a research note on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $68.00.

Shares of Plantronics stock traded down $0.89 on Monday, reaching $50.87. The company’s stock had a trading volume of 12,941 shares, compared to its average volume of 293,729. The stock has a market capitalization of $2.15 billion, a PE ratio of 19.09 and a beta of 1.09. Plantronics has a 52-week low of $49.83 and a 52-week high of $82.28. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.57 and a quick ratio of 1.29.

Plantronics (NYSE:PLT) last posted its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($1.05). The business had revenue of $483.07 million during the quarter, compared to analysts’ expectations of $506.32 million. Plantronics had a negative net margin of 9.75% and a positive return on equity of 20.46%. The firm’s quarterly revenue was up 129.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. On average, equities research analysts anticipate that Plantronics will post 1.87 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Monday, November 19th. Plantronics’s dividend payout ratio is presently 22.14%.

In other news, CEO Joseph B. Burton sold 4,727 shares of Plantronics stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $59.45, for a total value of $281,020.15. Following the sale, the chief executive officer now directly owns 123,599 shares of the company’s stock, valued at $7,347,960.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 4,820 shares of company stock worth $286,736 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Large investors have recently modified their holdings of the company. First Quadrant L P CA boosted its stake in shares of Plantronics by 6.7% in the third quarter. First Quadrant L P CA now owns 21,360 shares of the technology company’s stock worth $1,288,000 after acquiring an additional 1,350 shares during the last quarter. BlackRock Inc. boosted its stake in Plantronics by 4.2% during the second quarter. BlackRock Inc. now owns 3,784,999 shares of the technology company’s stock worth $288,606,000 after buying an additional 152,066 shares during the last quarter. Millennium Management LLC boosted its stake in Plantronics by 104.0% during the second quarter. Millennium Management LLC now owns 40,008 shares of the technology company’s stock worth $3,051,000 after buying an additional 20,400 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Plantronics during the second quarter worth $212,000. Finally, Trellus Management Company LLC acquired a new position in Plantronics during the third quarter worth $1,055,000. 77.33% of the stock is currently owned by hedge funds and other institutional investors.

About Plantronics

Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.

Recommended Story: Understanding each part of a balance sheet

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Plantronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics and related companies with's FREE daily email newsletter.