Knowles Corporation (KN) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Knowles Corporation (NYSE:KN) from a sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Knowles Corporation operates as a supplier of advanced micro-acoustic, specialty components, and human interface solutions. The Company designs and manufactures acoustic products, including microphones, speakers, and receivers for the handset, tablet, and other consumer electronic markets. It also designs and manufactures electronic components used in medical and life science applications and solutions and components used in communications infrastructure and various other markets. Knowles Corporation is headquartered in Itasca, Illinois. “
Other analysts have also issued reports about the stock. Dougherty & Co started coverage on shares of Knowles Corporation in a report on Thursday, June 8th. They issued a buy rating and a $22.00 price objective on the stock. BidaskClub lowered shares of Knowles Corporation from a buy rating to a hold rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $19.00.
Knowles Corporation (NYSE:KN) last announced its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $190.24 million. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.
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In related news, insider Michael S. Polacek acquired 3,246 shares of Knowles Corporation stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average cost of $15.40 per share, for a total transaction of $49,988.40. Following the acquisition, the insider now owns 42,866 shares in the company, valued at $660,136.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of KN. Janus Henderson Group PLC purchased a new stake in Knowles Corporation during the second quarter worth about $181,842,000. BlackRock Inc. increased its stake in Knowles Corporation by 16,850.3% during the first quarter. BlackRock Inc. now owns 9,107,540 shares of the communications equipment provider’s stock worth $172,588,000 after purchasing an additional 9,053,809 shares during the period. JPMorgan Chase & Co. increased its stake in Knowles Corporation by 23,168.8% during the first quarter. JPMorgan Chase & Co. now owns 1,399,150 shares of the communications equipment provider’s stock worth $26,514,000 after purchasing an additional 1,393,137 shares during the period. Dimensional Fund Advisors LP increased its stake in Knowles Corporation by 27.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,618,463 shares of the communications equipment provider’s stock worth $61,225,000 after purchasing an additional 781,379 shares during the period. Finally, Northern Trust Corp increased its stake in Knowles Corporation by 53.6% during the second quarter. Northern Trust Corp now owns 2,152,618 shares of the communications equipment provider’s stock worth $36,423,000 after purchasing an additional 751,386 shares during the period.
Knowles Corporation Company Profile
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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