Knowles (NYSE:KN) Reaches New 52-Week High Following Analyst Upgrade

Knowles Co. (NYSE:KN) reached a new 52-week high on Wednesday after Susquehanna raised their price target on the stock from $15.00 to $20.00. Susquehanna currently has a neutral rating on the stock. Knowles traded as high as $19.73 and last traded at $19.73, with a volume of 27388 shares trading hands. The stock had previously closed at $19.44.

Insider Buying and Selling at Knowles

In related news, Director Keith Barnes sold 5,186 shares of Knowles stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $17.45, for a total value of $90,495.70. Following the completion of the transaction, the director now owns 92,917 shares in the company, valued at approximately $1,621,401.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.65% of the company’s stock.

Hedge Funds Weigh In On Knowles

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Knowles by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,991,982 shares of the communications equipment provider’s stock worth $177,601,000 after buying an additional 419,939 shares in the last quarter. Nordea Investment Management AB increased its stake in Knowles by 81.9% during the 4th quarter. Nordea Investment Management AB now owns 339,021 shares of the communications equipment provider’s stock worth $6,096,000 after buying an additional 152,626 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Knowles during the 4th quarter worth approximately $4,083,000. Allspring Global Investments Holdings LLC increased its stake in Knowles by 220.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 684,057 shares of the communications equipment provider’s stock worth $12,251,000 after buying an additional 470,376 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Knowles during the 4th quarter worth approximately $810,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Knowles Trading Up 0.7 %

The company has a market capitalization of $1.76 billion, a PE ratio of 22.09 and a beta of 1.42. The company has a 50 day simple moving average of $17.48 and a 200 day simple moving average of $16.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.55 and a current ratio of 2.75.

Knowles (NYSE:KN) last issued its earnings results on Wednesday, May 1st. The communications equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). The company had revenue of $196.40 million for the quarter. Knowles had a return on equity of 5.98% and a net margin of 10.54%.

About Knowles

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).