BlackRock Inc. purchased a new stake in shares of Knowles Corporation (NYSE:KN - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 13,780,470 shares of the communications equipment provider's stock, valued at approximately $571,614,000. BlackRock Inc. owned 16.13% of Knowles at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Knowles by 35.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,151 shares of the communications equipment provider's stock valued at $48,000 after buying an additional 304 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Knowles by 0.6% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 76,098 shares of the communications equipment provider's stock valued at $1,954,000 after acquiring an additional 463 shares during the last quarter. ProShare Advisors LLC increased its holdings in Knowles by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 16,612 shares of the communications equipment provider's stock valued at $356,000 after acquiring an additional 504 shares in the last quarter. Pacer Advisors Inc. raised its position in Knowles by 5.3% during the first quarter. Pacer Advisors Inc. now owns 12,137 shares of the communications equipment provider's stock worth $312,000 after acquiring an additional 609 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Knowles by 1.2% in the fourth quarter. Royal Bank of Canada now owns 53,002 shares of the communications equipment provider's stock valued at $1,136,000 after purchasing an additional 638 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.
Knowles Stock Performance
Knowles stock opened at $33.25 on Monday. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 43.18 and a beta of 1.60. Knowles Corporation has a 12 month low of $20.50 and a 12 month high of $42.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.20 and a quick ratio of 1.75. The stock's 50-day moving average is $37.95 and its 200-day moving average is $32.88.
Knowles (NYSE:KN - Get Free Report) last issued its earnings results on Thursday, July 23rd. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The business had revenue of $166.80 million during the quarter, compared to analysts' expectations of $156.97 million. Knowles had a return on equity of 11.45% and a net margin of 10.63%.The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. Knowles has set its Q3 2026 guidance at 0.340-0.380 EPS. Equities analysts anticipate that Knowles Corporation will post 1.02 earnings per share for the current year.
Analysts Set New Price Targets
KN has been the subject of several analyst reports. Susquehanna boosted their target price on shares of Knowles from $33.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Zacks Research raised shares of Knowles from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Robert W. Baird set a $44.00 price objective on shares of Knowles in a research note on Friday, July 24th. Wall Street Zen cut shares of Knowles from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Knowles from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $40.67.
Check Out Our Latest Analysis on KN
Insider Buying and Selling at Knowles
In related news, Director Cheryl L. Shavers sold 6,618 shares of Knowles stock in a transaction on Monday, August 17th. The shares were sold at an average price of $39.27, for a total transaction of $259,888.86. Following the transaction, the director owned 35,723 shares in the company, valued at approximately $1,402,842.21. The trade was a 15.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Daniel J. Giesecke sold 20,201 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $37.32, for a total value of $753,901.32. Following the transaction, the chief operating officer owned 175,855 shares in the company, valued at approximately $6,562,908.60. This represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,997 shares of company stock valued at $1,237,928 over the last ninety days. Corporate insiders own 2.24% of the company's stock.
Knowles Profile
(
Free Report)
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.
Further Reading
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