United Services Automobile Association increased its holdings in shares of Plantronics Inc (NYSE:PLT) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,907 shares of the technology company’s stock after purchasing an additional 1,153 shares during the period. United Services Automobile Association’s holdings in Plantronics were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in Plantronics by 4.2% during the 2nd quarter. BlackRock Inc. now owns 3,784,999 shares of the technology company’s stock worth $288,606,000 after purchasing an additional 152,066 shares during the period. Dimensional Fund Advisors LP boosted its position in Plantronics by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 880,808 shares of the technology company’s stock valued at $67,163,000 after buying an additional 20,383 shares during the last quarter. Renaissance Technologies LLC boosted its position in Plantronics by 76.0% in the 2nd quarter. Renaissance Technologies LLC now owns 712,500 shares of the technology company’s stock valued at $54,328,000 after buying an additional 307,700 shares during the last quarter. Northern Trust Corp boosted its position in Plantronics by 1.6% in the 2nd quarter. Northern Trust Corp now owns 623,912 shares of the technology company’s stock valued at $47,573,000 after buying an additional 9,714 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Plantronics by 13.3% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 382,570 shares of the technology company’s stock valued at $29,171,000 after buying an additional 45,000 shares during the last quarter. 77.54% of the stock is owned by hedge funds and other institutional investors.

NYSE:PLT opened at $57.30 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 7.40 and a quick ratio of 6.86. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 21.14 and a beta of 1.10. Plantronics Inc has a 1-year low of $45.05 and a 1-year high of $82.28.

Plantronics (NYSE:PLT) last posted its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $221.31 million during the quarter, compared to analysts’ expectations of $207.79 million. Plantronics had a negative net margin of 0.60% and a positive return on equity of 25.39%. As a group, sell-side analysts expect that Plantronics Inc will post 3.42 earnings per share for the current fiscal year.

In other Plantronics news, CEO Joseph B. Burton sold 4,727 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $59.45, for a total value of $281,020.15. Following the completion of the transaction, the chief executive officer now directly owns 123,599 shares of the company’s stock, valued at approximately $7,347,960.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 4,820 shares of company stock valued at $286,961. 1.70% of the stock is currently owned by corporate insiders.

PLT has been the subject of a number of analyst reports. Sidoti raised shares of 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 cut shares of Plantronics from a “b-” rating to a “c+” rating in a research report on Friday, September 14th. Finally, Zacks Investment Research cut shares of Plantronics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Plantronics presently has a consensus rating of “Buy” and a consensus price target of $68.00.

Plantronics Profile

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.

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Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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