Voya Investment Management LLC increased its stake in shares of Knowles Corporation (NYSE:KN – Free Report) by 17.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,741 shares of the communications equipment provider’s stock after acquiring an additional 32,971 shares during the period. Voya Investment Management LLC’s holdings in Knowles were worth $5,145,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in Knowles by 94.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,842 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 895 shares in the last quarter. GAMMA Investing LLC lifted its stake in Knowles by 118.8% in the second quarter. GAMMA Investing LLC now owns 6,482 shares of the communications equipment provider’s stock valued at $114,000 after acquiring an additional 3,520 shares during the last quarter. CWM LLC grew its holdings in Knowles by 283.2% during the second quarter. CWM LLC now owns 10,265 shares of the communications equipment provider’s stock worth $181,000 after purchasing an additional 7,586 shares during the period. AlphaQuest LLC acquired a new position in shares of Knowles during the 1st quarter worth approximately $193,000. Finally, Choreo LLC bought a new position in Knowles during the second quarter worth $202,000. 96.35% of the stock is owned by institutional investors.
Knowles Stock Performance
NYSE:KN opened at $22.07 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 45.98 and a beta of 1.51. Knowles Corporation has a fifty-two week low of $12.19 and a fifty-two week high of $24.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.19 and a current ratio of 1.90. The stock has a fifty day moving average price of $22.69 and a 200-day moving average price of $21.15.
Insider Buying and Selling at Knowles
In related news, CEO Jeffrey Niew sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the sale, the chief executive officer owned 889,370 shares in the company, valued at approximately $21,344,880. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 186,656 shares of company stock worth $4,421,469. Corporate insiders own 2.54% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on KN. Susquehanna raised their price objective on shares of Knowles from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Zacks Research raised Knowles to a “hold” rating in a report on Friday, December 19th. Craig Hallum set a $28.00 price target on Knowles and gave the company a “buy” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Knowles in a research report on Monday, December 15th. Finally, Robert W. Baird set a $30.00 target price on shares of Knowles in a research report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.00.
Read Our Latest Stock Report on KN
Knowles Profile
Knowles Corporation (NYSE: KN) is a leading developer and manufacturer of advanced micro-acoustic, audio processing and precision device solutions. The company’s product portfolio includes microelectromechanical systems (MEMS) microphones, balanced armature receivers, acoustic filters, and custom audio processing integrated circuits. These solutions are designed to enable clear speech, enhanced voice capture and intelligent audio performance in a variety of end markets.
Founded in 1946, Knowles has evolved from its roots in vacuum tube components to become a pure-play audio technology provider following its spin-off from Dover Corporation in 2014.
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