Goldman Sachs Group Inc. Cuts Holdings in Kimball Electronics, Inc. $KE

Key Points

• Goldman Sachs Group Inc. reduced its stake in Kimball Electronics, Inc. by 43.7%, selling 65,777 shares and now owning 84,874 shares worth $1.4 million.
• Kimball Electronics reported earnings of $0.34 EPS, significantly exceeding analysts' expectations of $0.20 EPS, along with a revenue of $380.47 million for the quarter.
• Institutional investors and hedge funds collectively own 75.99% of Kimball Electronics' stock, indicating strong institutional interest.

Goldman Sachs Group Inc. decreased its position in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 43.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 84,874 shares of the electronics maker's stock after selling 65,777 shares during the period. Goldman Sachs Group Inc. owned about 0.35% of Kimball Electronics worth $1,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KE. GAMMA Investing LLC grew its stake in shares of Kimball Electronics by 3,256.0% in the 1st quarter. GAMMA Investing LLC now owns 4,195 shares of the electronics maker's stock worth $69,000 after buying an additional 4,070 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Kimball Electronics in the 1st quarter worth approximately $177,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Kimball Electronics in the 1st quarter worth approximately $200,000. Point72 Asset Management L.P. grew its stake in shares of Kimball Electronics by 17.0% in the 4th quarter. Point72 Asset Management L.P. now owns 10,889 shares of the electronics maker's stock worth $204,000 after buying an additional 1,584 shares during the last quarter. Finally, KPP Advisory Services LLC purchased a new stake in shares of Kimball Electronics in the 1st quarter worth approximately $237,000. Hedge funds and other institutional investors own 75.99% of the company's stock.

Kimball Electronics Price Performance

KE stock traded down $0.91 during trading on Tuesday, reaching $31.03. The company's stock had a trading volume of 82,014 shares, compared to its average volume of 174,334. Kimball Electronics, Inc. has a 1 year low of $12.41 and a 1 year high of $33.19. The company has a quick ratio of 1.34, a current ratio of 2.20 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $756.39 million, a P/E ratio of 46.45 and a beta of 1.28. The company's fifty day moving average is $24.92 and its 200-day moving average is $19.79.

Kimball Electronics (NASDAQ:KE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The electronics maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.14. Kimball Electronics had a return on equity of 5.11% and a net margin of 1.14%.The business had revenue of $380.47 million during the quarter, compared to analyst estimates of $333.19 million. Kimball Electronics has set its FY 2025 guidance at EPS. On average, research analysts expect that Kimball Electronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KE. Wall Street Zen upgraded Kimball Electronics from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 1st. Zacks Research upgraded Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 28th. B. Riley restated a "buy" rating on shares of Kimball Electronics in a research note on Thursday, August 14th. Finally, Lake Street Capital upped their price objective on Kimball Electronics from $21.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, Kimball Electronics presently has a consensus rating of "Buy" and an average target price of $28.00.

Kimball Electronics Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.