Assenagon Asset Management S.A. Lowers Stock Holdings in Kimball Electronics, Inc. $KE

Key Points

• Assenagon Asset Management cut its Kimball Electronics stake by 25% in the second quarter, selling 56,518 shares and retaining 169,974 shares worth approximately $4.35 million. Institutional investors collectively own 75.99% of the company.
• Analyst sentiment remains generally positive but mixed: Kimball Electronics has an average “Moderate Buy” rating and a consensus price target of $32.00, compared with a recent share price of $25.19.
• Kimball Electronics trades near its 50- and 200-day moving averages, with a market capitalization of about $606 million and a 12-month range of $20.72 to $33.19. The electronics manufacturing services provider serves OEMs through design, assembly, integration and aftermarket services.

Assenagon Asset Management S.A. reduced its position in Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 25.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,974 shares of the electronics maker's stock after selling 56,518 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.71% of Kimball Electronics worth $4,351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Kimball Electronics in the third quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new stake in Kimball Electronics during the 2nd quarter worth approximately $34,000. Farther Finance Advisors LLC purchased a new position in Kimball Electronics in the 4th quarter valued at approximately $35,000. CWM LLC boosted its position in Kimball Electronics by 135.2% in the 4th quarter. CWM LLC now owns 1,244 shares of the electronics maker's stock valued at $35,000 after buying an additional 715 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of Kimball Electronics in the fourth quarter worth $38,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KE. Wall Street Zen lowered Kimball Electronics from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Zacks Research raised Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. KeyCorp started coverage on Kimball Electronics in a research note on Thursday, July 2nd. They issued a "sector weight" rating for the company. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Kimball Electronics in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.00.

Kimball Electronics Stock Performance

NASDAQ:KE opened at $25.19 on Thursday. Kimball Electronics, Inc. has a 12 month low of $20.72 and a 12 month high of $33.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.29. The firm has a market capitalization of $605.79 million, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. The business's fifty day moving average price is $25.13 and its 200 day moving average price is $25.41.

Kimball Electronics Profile

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company's core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.

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