Knowles Corp (KN) Stake Increased by Marathon Capital Management
Marathon Capital Management lifted its position in shares of Knowles Corp (NYSE:KN) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,334 shares of the communications equipment provider’s stock after acquiring an additional 6,350 shares during the period. Knowles makes up about 0.9% of Marathon Capital Management’s portfolio, making the stock its 20th largest holding. Marathon Capital Management owned approximately 0.18% of Knowles worth $2,453,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Highbridge Capital Management LLC acquired a new position in Knowles during the 1st quarter worth approximately $127,000. Xact Kapitalforvaltning AB acquired a new position in Knowles during the 4th quarter worth approximately $209,000. UBS Group AG increased its position in Knowles by 112.3% during the 1st quarter. UBS Group AG now owns 14,620 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 7,733 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Knowles by 38.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,472 shares of the communications equipment provider’s stock worth $237,000 after purchasing an additional 4,290 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan increased its position in Knowles by 24.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 15,500 shares of the communications equipment provider’s stock worth $237,000 after purchasing an additional 3,000 shares in the last quarter.
Several equities analysts have issued reports on KN shares. Lake Street Capital restated a “buy” rating and issued a $19.00 price target (up from $17.00) on shares of Knowles in a research report on Wednesday, July 25th. Craig Hallum increased their price objective on shares of Knowles from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. ValuEngine upgraded shares of Knowles from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Zacks Investment Research upgraded shares of Knowles from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $16.50 price objective on shares of Knowles in a research report on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $17.50.
KN opened at $17.71 on Monday. Knowles Corp has a twelve month low of $10.94 and a twelve month high of $18.32. The company has a quick ratio of 1.43, a current ratio of 2.56 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.60 billion, a PE ratio of 25.30, a PEG ratio of 2.63 and a beta of 0.99.
Knowles (NYSE:KN) last posted its quarterly earnings data on Tuesday, July 24th. The communications equipment provider reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.04. Knowles had a net margin of 13.12% and a return on equity of 6.08%. The company had revenue of $188.40 million during the quarter, compared to analysts’ expectations of $179.86 million. During the same period in the prior year, the company posted $0.11 earnings per share. Knowles’s revenue for the quarter was up 14.6% compared to the same quarter last year. research analysts anticipate that Knowles Corp will post 0.67 earnings per share for the current fiscal year.
Knowles Company Profile
Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.
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