Teza Capital Management LLC Makes New $224,000 Investment in Plantronics Inc (NYSE:PLT)

Teza Capital Management LLC bought a new position in shares of Plantronics Inc (NYSE:PLT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 15,239 shares of the technology company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PLT. Texas Permanent School Fund raised its position in shares of Plantronics by 24.1% during the first quarter. Texas Permanent School Fund now owns 27,794 shares of the technology company’s stock valued at $280,000 after buying an additional 5,406 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Plantronics in the first quarter valued at about $31,000. Public Employees Retirement Association of Colorado increased its stake in Plantronics by 52.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 8,252 shares of the technology company’s stock valued at $83,000 after acquiring an additional 2,849 shares during the period. Comerica Bank increased its stake in Plantronics by 3.2% in the first quarter. Comerica Bank now owns 31,762 shares of the technology company’s stock valued at $397,000 after acquiring an additional 975 shares during the period. Finally, Pzena Investment Management LLC bought a new stake in Plantronics in the first quarter valued at about $13,692,000.

PLT has been the topic of several research analyst reports. Northland Securities initiated coverage on shares of Plantronics in a research note on Thursday, May 28th. They set a “hold” rating and a $22.00 price objective on the stock. ValuEngine cut shares of Plantronics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Cowen decreased their price objective on shares of Plantronics from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, May 28th. Finally, Zacks Investment Research raised shares of Plantronics from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.00.

Shares of PLT stock opened at $15.73 on Wednesday. Plantronics Inc has a 1 year low of $4.60 and a 1 year high of $42.44. The firm’s 50 day moving average is $17.88 and its 200-day moving average is $13.98. The firm has a market capitalization of $657.20 million, a price-to-earnings ratio of 14.40 and a beta of 2.17. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 2.76.

Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, July 28th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.67. Plantronics had a negative net margin of 52.48% and a positive return on equity of 17.30%. The company had revenue of $365.00 million for the quarter, compared to analyst estimates of $353.03 million. During the same period in the prior year, the business earned $1.32 earnings per share. Plantronics’s quarterly revenue was down 18.5% on a year-over-year basis. On average, equities research analysts forecast that Plantronics Inc will post 0.95 earnings per share for the current fiscal year.

Plantronics Company Profile

Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.

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Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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