Knowles Corp. (NYSE:KN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Several other equities analysts have also commented on the company. JPMorgan Chase & Co. started coverage on Knowles Corp. in a report on Tuesday, September 6th. They issued a “neutral” rating and a $15.00 target price on the stock. Benchmark Co. started coverage on Knowles Corp. in a report on Wednesday, June 29th. They issued a “hold” rating and a $15.00 target price on the stock. Finally, Susquehanna started coverage on Knowles Corp. in a report on Tuesday, September 20th. They issued a “negative” rating and a $12.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.92.
Knowles Corp. (NYSE:KN) opened at 13.67 on Wednesday. Knowles Corp. has a one year low of $9.68 and a one year high of $22.33. The firm’s market cap is $1.21 billion. The stock has a 50 day moving average price of $14.00 and a 200 day moving average price of $13.88.
Knowles Corp. (NYSE:KN) last posted its earnings results on Tuesday, July 26th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $190.30 million for the quarter, compared to analyst estimates of $189.88 million. Knowles Corp. had a positive return on equity of 4.04% and a negative net margin of 26.09%. Knowles Corp.’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities research analysts expect that Knowles Corp. will post $0.84 EPS for the current year.
In related news, VP Thomas G. Jackson sold 3,764 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $13.42, for a total transaction of $50,512.88. Following the transaction, the vice president now owns 32,059 shares of the company’s stock, valued at $430,231.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.49% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Knowles Corp. by 1.5% in the first quarter. State Street Corp now owns 2,820,445 shares of the company’s stock worth $37,175,000 after buying an additional 42,585 shares in the last quarter. BB&T Securities LLC raised its position in Knowles Corp. by 26.7% in the first quarter. BB&T Securities LLC now owns 106,312 shares of the company’s stock worth $1,401,000 after buying an additional 22,379 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Knowles Corp. during the first quarter worth $322,000. Spark Investment Management LLC raised its stake in shares of Knowles Corp. by 8.3% in the first quarter. Spark Investment Management LLC now owns 275,500 shares of the company’s stock worth $3,631,000 after buying an additional 21,000 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of Knowles Corp. by 65.4% in the first quarter. Royce & Associates LP now owns 339,077 shares of the company’s stock worth $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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