Knowles Corp. (KN) Lowered to Hold at Zacks Investment Research
According to Zacks, “Knowles Corporation operates as a supplier of advanced micro-acoustic, specialty components, and human interface solutions. The Company designs and manufactures acoustic products, including microphones, speakers, and receivers for the handset, tablet, and other consumer electronic markets. It also designs and manufactures electronic components used in medical and life science applications and solutions and components used in communications infrastructure and various other markets. Knowles Corporation is headquartered in Itasca, Illinois. “
Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Knowles Corp. in a research report on Tuesday, September 6th. They set a neutral rating and a $15.00 price objective for the company. Susquehanna assumed coverage on shares of Knowles Corp. in a research report on Tuesday, September 20th. They set a negative rating and a $12.00 price objective for the company. Finally, Benchmark Co. assumed coverage on shares of Knowles Corp. in a research report on Wednesday, June 29th. They set a hold rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Knowles Corp. currently has a consensus rating of Hold and a consensus price target of $16.92.
Knowles Corp. (NYSE:KN) traded up 1.74% during trading on Wednesday, reaching $14.02. The company’s stock had a trading volume of 25,477 shares. The firm’s 50-day moving average is $14.00 and its 200-day moving average is $13.88. Knowles Corp. has a 52-week low of $9.68 and a 52-week high of $22.33. The stock’s market cap is $1.24 billion.
Knowles Corp. (NYSE:KN) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm earned $190.30 million during the quarter, compared to the consensus estimate of $189.88 million. Knowles Corp. had a negative net margin of 26.09% and a positive return on equity of 4.04%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. Equities research analysts forecast that Knowles Corp. will post $0.86 EPS for the current year.
In related news, VP Thomas G. Jackson sold 3,764 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $13.42, for a total value of $50,512.88. Following the completion of the transaction, the vice president now directly owns 32,059 shares of the company’s stock, valued at approximately $430,231.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.49% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KN. State Street Corp boosted its stake in Knowles Corp. by 1.5% in the first quarter. State Street Corp now owns 2,820,445 shares of the company’s stock valued at $37,175,000 after buying an additional 42,585 shares in the last quarter. BB&T Securities LLC boosted its stake in Knowles Corp. by 26.7% in the first quarter. BB&T Securities LLC now owns 106,312 shares of the company’s stock valued at $1,401,000 after buying an additional 22,379 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Knowles Corp. during the first quarter valued at about $322,000. Spark Investment Management LLC boosted its stake in Knowles Corp. by 8.3% in the first quarter. Spark Investment Management LLC now owns 275,500 shares of the company’s stock valued at $3,631,000 after buying an additional 21,000 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in Knowles Corp. by 65.4% in the first quarter. Royce & Associates LP now owns 339,077 shares of the company’s stock valued at $4,469,000 after buying an additional 134,077 shares in the last quarter.
About Knowles Corp.
Knowles Corporation is a supplier of advanced micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. It uses micro-electro-mechanical systems (MEMS) microphones and audio processing technologies to optimize audio systems and develop the user experience in smartphones, tablets and wearables.
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