Knowles (NYSE:KN) Hits New 1-Year High – Still a Buy?

Shares of Knowles Corporation (NYSE:KN) reached a new 52-week high on Monday . The stock traded as high as $25.33 and last traded at $25.36, with a volume of 232976 shares traded. The stock had previously closed at $24.24.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KN shares. Zacks Research raised Knowles to a “hold” rating in a research note on Friday, December 19th. 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. Robert W. Baird set a $30.00 price objective on shares of Knowles in a research note on Friday, October 24th. Craig Hallum set a $28.00 target price on shares of Knowles and gave the company a “buy” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knowles in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.00.

Knowles Trading Up 3.7%

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.90 and a quick ratio of 1.19. The company has a market capitalization of $2.14 billion, a P/E ratio of 52.38 and a beta of 1.52. The firm has a fifty day moving average price of $23.03 and a 200-day moving average price of $22.24.

Insider Activity at Knowles

In related news, CEO Jeffrey Niew sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $24.75, for a total value of $1,237,500.00. Following the transaction, the chief executive officer directly owned 839,370 shares of the company’s stock, valued at approximately $20,774,407.50. The trade was a 5.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 100,000 shares of company stock worth $2,425,000. Insiders own 2.54% of the company’s stock.

Institutional Trading of Knowles

Several hedge funds have recently added to or reduced their stakes in KN. Royal Bank of Canada increased its stake in shares of Knowles by 27.0% during the 1st quarter. Royal Bank of Canada now owns 70,073 shares of the communications equipment provider’s stock worth $1,064,000 after purchasing an additional 14,900 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Knowles by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,722 shares of the communications equipment provider’s stock valued at $786,000 after acquiring an additional 2,245 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Knowles by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,557 shares of the communications equipment provider’s stock valued at $3,626,000 after purchasing an additional 15,827 shares during the period. Jane Street Group LLC purchased a new stake in shares of Knowles during the first quarter worth $3,335,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Knowles during the 2nd quarter worth about $278,000. Institutional investors own 96.35% of the company’s stock.

Knowles Company 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.