Knowles (NYSE:KN) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Knowles (NYSE:KN) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other research firms have also weighed in on KN. Susquehanna reduced their price objective on Knowles from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday. Craig Hallum upgraded Knowles to a “strong-buy” rating in a research report on Wednesday, October 16th.

Knowles Price Performance

NYSE:KN opened at $17.66 on Friday. Knowles has a 52-week low of $12.78 and a 52-week high of $19.73. The company has a quick ratio of 1.30, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.56 billion, a P/E ratio of -8.14 and a beta of 1.42. The business’s 50-day moving average price is $17.59 and its 200 day moving average price is $17.36.

Knowles (NYSE:KN) last released its earnings results on Wednesday, July 31st. The communications equipment provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The business had revenue of $204.70 million during the quarter. Knowles had a positive return on equity of 5.39% and a negative net margin of 24.36%.

Insider Buying and Selling

In other Knowles news, Director Cheryl L. Shavers sold 12,579 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $17.29, for a total transaction of $217,490.91. Following the sale, the director now directly owns 48,933 shares of the company’s stock, valued at $846,051.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO John S. Anderson sold 10,444 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $18.50, for a total transaction of $193,214.00. Following the transaction, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at approximately $3,907,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cheryl L. Shavers sold 12,579 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $17.29, for a total transaction of $217,490.91. Following the completion of the transaction, the director now owns 48,933 shares in the company, valued at approximately $846,051.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,748 shares of company stock valued at $530,948. Company insiders own 2.65% of the company’s stock.

Hedge Funds Weigh In On Knowles

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in Knowles by 9.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 746,389 shares of the communications equipment provider’s stock valued at $12,017,000 after purchasing an additional 62,332 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Knowles by 76.2% in the first quarter. BNP Paribas Financial Markets now owns 44,361 shares of the communications equipment provider’s stock worth $714,000 after buying an additional 19,181 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Knowles during the first quarter valued at approximately $1,435,000. Nordea Investment Management AB lifted its stake in Knowles by 43.5% in the first quarter. Nordea Investment Management AB now owns 486,393 shares of the communications equipment provider’s stock valued at $7,773,000 after acquiring an additional 147,372 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Knowles in the first quarter worth approximately $1,228,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Knowles Company Profile

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).