Plantronics Inc. (PLT) Review – Making Smarter Decisions

254 institutions hold shares in Plantronics Inc. (PLT), with 806.25k shares held by insiders accounting for 2.07% while institutional investors hold 100.95% of the company’s shares. The shares outstanding are 41.25M, and float is at 38.34M with Short Float at 6.71%. Institutions hold 98.86% of the Float.

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The top institutional shareholder in the company is Primecap Management Company with over 6.09 million shares valued at $164.6 million. The investor’s holdings represent 14.76% of the PLT Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 5.63 million shares valued at $152.06 million to account for 13.63% of the shares outstanding. The other top investors are Ameriprise Financial, Inc. which holds 5.07 million shares representing 12.28% and valued at over $136.98 million, while Vanguard Group, Inc. (The) holds 10.64% of the shares totaling 4.39 million with a market value of $118.65 million.

Plantronics Inc. (NYSE: PLT) is 43.54% higher on its value in year-to-date trading and has touched a low of $10.93 and a high of $50.89 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PLT stock was last observed hovering at around $36.17 in the last trading session, with the day’s gains setting it 2.63% off its average median price target of $46.50 for the next 12 months. It is also 29.45% off the consensus price target high of $55.00 offered by 6 analysts, but current levels are -25.16% lower than the price target low of $31.00 for the same period.

Currently trading at $38.80, the stock is 1.31% and -3.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.49 million and changing 7.27% at the moment leaves the stock 50.41% off its SMA200. PLT registered 254.01% gain for a year compared to 6-month gain of 122.48%. The firm has a 50-day simple moving average (SMA 50) of $40.55 and a 200-day simple moving average (SMA200) of $28.47.

The stock witnessed a -9.96% loss in the last 1 month and extending the period to 3 months gives it a 19.83%, and is 3.03% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.63% over the week and 6.38% over the month.

Plantronics Inc. (PLT) has around 6584 employees, a market worth around $1.53B and $1.65B in sales. Fwd P/E is 10.16. Profit margin for the company is -45.10%. Distance from 52-week low is 254.99% and -23.76% from its 52-week high. The company has generated returns on investments over the last 12 months (-47.70%).

Plantronics Inc. (PLT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Plantronics Inc. (PLT) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.20, where 2 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Plantronics Inc. is expected to release its quarterly report on 08/03/2021 and quarterly earnings per share for the current quarter are estimated at $0.93 with sales reaching $455.69M over the same period.The EPS is expected to shrink by -464.70% this year, but quarterly earnings will post -0.80% year-over-year. Quarterly sales are estimated to grow 11.40% in year-over-year returns.

Plantronics Inc. (PLT) Insider Activity

A total of 7 insider transactions have happened at Plantronics Inc. (PLT) in the last six months, with sales accounting for 4 and purchases happening 3 times. The most recent transaction is an insider sale by Triangle Private Holdings I, L, the company’s 10% Owner. SEC filings show that Triangle Private Holdings I, L sold 4,065,666 shares of the company’s common stock on Aug 27 at a price of $13.25 per share for a total of $53.87 million. Following the sale, the insider now owns 3.04 million shares.

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Plantronics Inc. (PLT): Who are the competitors?

The company’s main competitors (and peers) include Alphabet Inc. (GOOGL) that is 87.96% higher over the past 12 months. Apple Inc. (AAPL) is 98.98% up on the 1-year trading charts. Short interest in the company’s stock has risen 7.89% from the last report on Mar 30, 2021 to stand at a total of 2.57 million short shares sold with a short interest ratio of 4.35.

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