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Plantronics (POLY) to be Acquired by HP for $40 Per Share in Cash
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Plantronics, Inc. has announced a deal under which it will be acquired by HP Inc. (HPQ - Free Report) for $40 per share in cash, representing a total enterprise value of $3.3 billion.
In response to the news, Poly’s (the name under which Plantronics markets itself) share price rallied 52.6% on Mar 28, closing the session at $39.99.
Headquartered in Santa Cruz, CA, Poly is a global outfitter of professional-grade audio and video technology. The company is benefiting from the massive shift toward reliable, high-fidelity solutions for hybrid work and video collaboration.
Poly has built a strong foundation of partners, which allows distribution and reseller partners to sell into Microsoft, Zoom, Google and other service provider environments.
Poly’s shares have inched up 8.7% in the past year compared with the industry’s growth of 7.5%.
Image Source: Zacks Investment Research
The acquisition accelerates HP’s growth strategy and creates a leading portfolio of hybrid work solutions. Poly’s leading-edge technology and go-to-market strategy will help to drive HP’s long-term growth.
Poly will help drive the growth of HP’s peripherals and workforce solutions businesses. Poly’s devices, software and services, along with HP’s strengths across compute, device management and security, create a robust portfolio of hybrid meeting solutions.
The companies will deliver an ecosystem of devices, software and digital services to create premium employee experiences, improve workforce productivity and provide enterprise customers with better visibility across their hybrid IT environments.
The deal, subject to Poly shareholder and regulatory approvals, is expected to be closed by the end of calendar year 2022.
Clearfield, Inc. (CLFD - Free Report) is a better-ranked stock in the broader Zacks Computer and Technology sector, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 20.5% over the past 60 days.
Clearfield delivered a trailing four-quarter earnings surprise of 50.7%, on average. It has gained 127.7% in the past year.
Qualcomm, Inc. (QCOM - Free Report) , carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 12.2% over the past 60 days.
Qualcomm delivered a trailing four-quarter earnings surprise of 12.2%, on average. It has appreciated 21.8% in the past year.
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Plantronics (POLY) to be Acquired by HP for $40 Per Share in Cash
Plantronics, Inc. has announced a deal under which it will be acquired by HP Inc. (HPQ - Free Report) for $40 per share in cash, representing a total enterprise value of $3.3 billion.
In response to the news, Poly’s (the name under which Plantronics markets itself) share price rallied 52.6% on Mar 28, closing the session at $39.99.
Headquartered in Santa Cruz, CA, Poly is a global outfitter of professional-grade audio and video technology. The company is benefiting from the massive shift toward reliable, high-fidelity solutions for hybrid work and video collaboration.
Poly has built a strong foundation of partners, which allows distribution and reseller partners to sell into Microsoft, Zoom, Google and other service provider environments.
Poly’s shares have inched up 8.7% in the past year compared with the industry’s growth of 7.5%.
Image Source: Zacks Investment Research
The acquisition accelerates HP’s growth strategy and creates a leading portfolio of hybrid work solutions. Poly’s leading-edge technology and go-to-market strategy will help to drive HP’s long-term growth.
Poly will help drive the growth of HP’s peripherals and workforce solutions businesses. Poly’s devices, software and services, along with HP’s strengths across compute, device management and security, create a robust portfolio of hybrid meeting solutions.
The companies will deliver an ecosystem of devices, software and digital services to create premium employee experiences, improve workforce productivity and provide enterprise customers with better visibility across their hybrid IT environments.
The deal, subject to Poly shareholder and regulatory approvals, is expected to be closed by the end of calendar year 2022.
POLY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearfield, Inc. (CLFD - Free Report) is a better-ranked stock in the broader Zacks Computer and Technology sector, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 20.5% over the past 60 days.
Clearfield delivered a trailing four-quarter earnings surprise of 50.7%, on average. It has gained 127.7% in the past year.
Qualcomm, Inc. (QCOM - Free Report) , carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 12.2% over the past 60 days.
Qualcomm delivered a trailing four-quarter earnings surprise of 12.2%, on average. It has appreciated 21.8% in the past year.