JPMorgan Chase & Co. increased its position in shares of Knowles Co. (NYSE:KN – Get Rating) by 36.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,201,191 shares of the communications equipment provider's stock after purchasing an additional 322,967 shares during the period. JPMorgan Chase & Co. owned approximately 1.31% of Knowles worth $25,862,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. C M Bidwell & Associates Ltd. purchased a new position in shares of Knowles during the 1st quarter worth about $42,000. Meeder Asset Management Inc. purchased a new stake in Knowles in the 1st quarter valued at about $43,000. MQS Management LLC purchased a new stake in Knowles in the 4th quarter valued at about $207,000. Hightower 6M Holding LLC bought a new stake in shares of Knowles in the 1st quarter valued at about $211,000. Finally, Profund Advisors LLC raised its holdings in shares of Knowles by 11.7% in the 1st quarter. Profund Advisors LLC now owns 10,591 shares of the communications equipment provider's stock valued at $228,000 after purchasing an additional 1,111 shares in the last quarter. 99.14% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
KN has been the subject of several recent research reports. TheStreet lowered shares of Knowles from a "b" rating to a "c+" rating in a report on Wednesday, May 11th. StockNews.com lowered shares of Knowles from a "buy" rating to a "hold" rating in a report on Thursday, August 4th. Finally, Roth Capital lowered shares of Knowles from a "buy" rating to a "neutral" rating and reduced their price target for the company from $20.00 to $17.00 in a report on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.63.
Knowles Trading Down 1.1 %
NYSE KN opened at $14.28 on Friday. The company has a quick ratio of 1.27, a current ratio of 2.54 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.31 billion, a PE ratio of -12.10 and a beta of 1.36. The company has a 50 day moving average price of $17.37 and a 200 day moving average price of $19.04. Knowles Co. has a 52 week low of $14.18 and a 52 week high of $23.81.
Knowles (NYSE:KN – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The communications equipment provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $188.00 million during the quarter, compared to analyst estimates of $200.00 million. Knowles had a negative net margin of 12.20% and a positive return on equity of 9.12%. As a group, sell-side analysts forecast that Knowles Co. will post 0.97 EPS for the current fiscal year.
Knowles Profile
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Knowles Corporation offers micro-acoustic microphones and balanced armature speakers, audio solutions, high performance capacitors, and radio frequency products for the consumer electronics, medtech, defense, electric vehicle, industrial, and communications markets. It operates in two segments, Audio and Precision Devices (PD).
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