Dynamic Technology Lab Private Ltd Acquires Shares of 35,079 Knowles Corporation $KN

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in Knowles Corporation, purchasing 35,079 shares valued at approximately $533,000.
• Several institutional investors, including Versant Capital Management and Meeder Asset Management, have significantly increased their stakes in Knowles during the first quarter, indicating growing interest in the company.
• Knowles has a market cap of $1.85 billion and is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $21.00.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Knowles Corporation (NYSE:KN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 35,079 shares of the communications equipment provider's stock, valued at approximately $533,000.

A number of other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of Knowles by 9.6% during the first quarter. Hsbc Holdings PLC now owns 16,095 shares of the communications equipment provider's stock worth $244,000 after purchasing an additional 1,415 shares in the last quarter. Bank of America Corp DE increased its position in shares of Knowles by 17.9% in the fourth quarter. Bank of America Corp DE now owns 436,464 shares of the communications equipment provider's stock valued at $8,699,000 after acquiring an additional 66,202 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Knowles by 46.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 14,881 shares of the communications equipment provider's stock valued at $226,000 after buying an additional 4,699 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Knowles by 2.2% in the first quarter. Principal Financial Group Inc. now owns 436,486 shares of the communications equipment provider's stock valued at $6,635,000 after purchasing an additional 9,418 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Knowles by 59.4% in the first quarter. XTX Topco Ltd now owns 36,836 shares of the communications equipment provider's stock valued at $560,000 after buying an additional 13,722 shares during the period. Institutional investors own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KN shares. Wall Street Zen raised shares of Knowles from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Craig Hallum lifted their price objective on shares of Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Insiders Place Their Bets

In related news, VP Air A. Jr. Bastarrica sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the vice president directly owned 62,537 shares of the company's stock, valued at $1,309,524.78. This trade represents a 13.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Perna sold 56,130 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the sale, the senior vice president directly owned 66,552 shares of the company's stock, valued at approximately $1,362,319.44. This represents a 45.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.54% of the stock is owned by company insiders.

Knowles Price Performance

NYSE KN traded down $0.09 during trading on Friday, reaching $22.15. The company's stock had a trading volume of 675,615 shares, compared to its average volume of 492,729. The stock has a market capitalization of $1.90 billion, a PE ratio of 76.40 and a beta of 1.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. Knowles Corporation has a one year low of $12.19 and a one year high of $22.31. The firm has a fifty day moving average of $20.07 and a 200 day moving average of $17.52.

About Knowles

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).