Plantronics Inc (NYSE:PLT) was downgraded by analysts at Raymond James from an “outperform” rating to an “underperform” rating in a research report issued on Tuesday, The Fly reports.

Several hedge funds and institutional investors have recently modified their holdings of the company. Isthmus Partners LLC increased its position in shares of Plantronics by 5.4% in the fourth quarter. Isthmus Partners LLC now owns 12,218 shares of the company’s stock worth $579,000 after buying an additional 623 shares during the last quarter. Numeric Investors LLC increased its position in shares of Plantronics by 53.0% in the fourth quarter. Numeric Investors LLC now owns 47,350 shares of the company’s stock worth $2,245,000 after buying an additional 16,400 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Plantronics by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 65,287 shares of the company’s stock worth $3,096,000 after buying an additional 959 shares during the last quarter. Investment Counselors of Maryland LLC increased its position in shares of Plantronics by 1.6% in the fourth quarter. Investment Counselors of Maryland LLC now owns 302,291 shares of the company’s stock worth $14,335,000 after buying an additional 4,650 shares during the last quarter. Finally, Regions Financial Corp increased its position in shares of Plantronics by 11.9% in the fourth quarter. Regions Financial Corp now owns 33,913 shares of the company’s stock worth $1,608,000 after buying an additional 3,616 shares during the last quarter.

In other Plantronics news, CEO S Kenneth Kannappan sold 2,215 shares of the firm’s stock in a transaction dated Tuesday, November 17th. The shares were sold at an average price of $52.29, for a total transaction of $115,822.35. Following the transaction, the chief executive officer now owns 157,477 shares of the company’s stock, valued at approximately $8,234,472.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph B. Burton sold 2,900 shares of the firm’s stock in a transaction dated Friday, November 20th. The shares were sold at an average price of $52.69, for a total transaction of $152,801.00. Following the transaction, the insider now directly owns 54,783 shares in the company, valued at approximately $2,886,516.27. The disclosure for this sale can be found here.

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Plantronics in a report on Monday, January 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $60.40.

Plantronics (NYSE:PLT) opened at 44.76 on Tuesday. The stock’s 50 day moving average is $45.57 and its 200-day moving average is $51.61. The stock has a market capitalization of $1.50 billion and a price-to-earnings ratio of 18.67. Plantronics has a 52-week low of $41.17 and a 52-week high of $58.73.

Plantronics (NYSE:PLT) last released its earnings results on Monday, February 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.07. During the same quarter last year, the business posted $0.79 EPS. The firm earned $225.70 million during the quarter, compared to the consensus estimate of $230.61 million. Equities research analysts anticipate that Plantronics will post $2.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 10th. Shareholders of record on Friday, February 19th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.34%.

Plantronics, Inc. (NYSE:PLT) 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 lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand. Its headsets are used for applications such as Unified Communications (UC), in contact centers, in the office and in the home, with mobile phones and Internet telephony, for gaming, and for other specialty applications. Its product categories include Enterprise, which includes corded and cordless communication headsets, audio processors, and telephone systems; and Consumer, which includes Bluetooth and corded products for mobile phone applications, personal computer (PC) and gaming headsets, and specialty products marketed for hearing impaired individuals.

12 Month Chart for NYSE:PLT

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