Martingale Asset Management L P bought a new stake in Knowles Co. (NYSE:KN – Get Rating) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,615 shares of the communications equipment provider's stock, valued at approximately $853,000.
Several other hedge funds have also made changes to their positions in KN. Goldman Sachs Group Inc. lifted its holdings in shares of Knowles by 36.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,574,519 shares of the communications equipment provider's stock worth $60,115,000 after purchasing an additional 685,980 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of Knowles by 263.2% in the 1st quarter. Great Lakes Advisors LLC now owns 474,684 shares of the communications equipment provider's stock worth $10,220,000 after acquiring an additional 344,003 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Knowles by 36.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,201,191 shares of the communications equipment provider's stock worth $25,862,000 after acquiring an additional 322,967 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Knowles by 49.4% in the fourth quarter. Renaissance Technologies LLC now owns 899,300 shares of the communications equipment provider's stock valued at $20,999,000 after acquiring an additional 297,226 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Knowles by 1,412.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 158,800 shares of the communications equipment provider's stock worth $3,700,000 after acquiring an additional 148,300 shares during the period. Institutional investors and hedge funds own 99.14% of the company's stock.
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Knowles Price Performance
Shares of Knowles stock opened at $14.28 on Monday. The company has a 50-day moving average of $17.37 and a two-hundred day moving average of $19.04. Knowles Co. has a 12-month low of $14.18 and a 12-month high of $23.81. The company has a quick ratio of 1.27, a current ratio of 2.54 and a debt-to-equity ratio of 0.06.
Knowles (NYSE:KN – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The communications equipment provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $188.00 million during the quarter, compared to the consensus estimate of $200.00 million. Knowles had a positive return on equity of 9.12% and a negative net
margin of 12.20%. Analysts expect that Knowles Co. will post 0.97 earnings per share for the current fiscal year.
Analyst Ratings Changes
KN has been the subject of a number of recent analyst reports. TheStreet downgraded shares of Knowles from a "b" rating to a "c+" rating in a research report on Wednesday, May 11th. Roth Capital cut 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. Finally, StockNews.com lowered Knowles from a "buy" rating to a "hold" rating in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $20.63.
Knowles Company 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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