Knowles Corporation $KN Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Knowles stake by 9.9% in the first quarter, selling 83,419 shares and retaining 755,323 shares valued at approximately $19.4 million. Institutional investors collectively own 96.35% of the company.
• Analyst sentiment remains positive, with Knowles carrying an average “Buy” rating and a consensus price target of $40.67. Recent upgrades included Weiss Ratings moving the stock to “Buy” and Zacks Research upgrading it to “Strong Buy.”
• Knowles exceeded quarterly expectations, reporting $0.33 EPS and $166.8 million in revenue, while revenue rose 14.3% year over year. The stock opened at $34.87, down 3.3%, and insiders have sold nearly 33,000 shares worth about $1.24 million over the past 90 days.

Bank of America Corp DE decreased its stake in shares of Knowles Corporation (NYSE:KN - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 755,323 shares of the communications equipment provider's stock after selling 83,419 shares during the period. Bank of America Corp DE owned approximately 0.88% of Knowles worth $19,397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC increased its holdings in shares of Knowles by 212.9% in the first quarter. Millstone Evans Group LLC now owns 973 shares of the communications equipment provider's stock valued at $25,000 after buying an additional 662 shares in the last quarter. McMillan Office Inc. acquired a new stake in Knowles during the 4th quarter worth about $39,000. Osaic Holdings Inc. boosted its holdings in shares of Knowles by 94.5% during the second quarter. Osaic Holdings Inc. now owns 1,842 shares of the communications equipment provider's stock worth $31,000 after purchasing an additional 895 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Knowles during the 1st quarter valued at $51,000. Finally, Torren Management LLC purchased a new position in Knowles in the fourth quarter valued at about $43,000. Institutional investors own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KN. Weiss Ratings raised Knowles from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. Wall Street Zen lowered shares of Knowles from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Robert W. Baird set a $44.00 target price on Knowles in a research report on Friday, July 24th. Craig Hallum restated a "buy" rating and set a $38.00 price target on shares of Knowles in a research note on Friday, April 24th. Finally, Zacks Research upgraded shares of Knowles from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. One 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. Based on data from MarketBeat, Knowles presently has an average rating of "Buy" and an average target price of $40.67.

Insider Transactions at Knowles

In related news, SVP Raymond D. Cabrera sold 6,178 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $36.28, for a total transaction of $224,137.84. Following the sale, the senior vice president owned 127,945 shares in the company, valued at approximately $4,641,844.60. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Daniel J. Giesecke sold 20,201 shares of the business's stock in a transaction that occurred on 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 directly owned 175,855 shares in the company, valued at $6,562,908.60. This trade 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 90 days. 2.24% of the stock is owned by corporate insiders.

Knowles Trading Down 3.3%

KN opened at $34.87 on Thursday. The firm has a market cap of $2.98 billion, a PE ratio of 45.29 and a beta of 1.60. Knowles Corporation has a twelve month low of $20.10 and a twelve month high of $42.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.75 and a current ratio of 3.20. The firm's fifty day moving average is $38.19 and its two-hundred day moving average is $32.76.

Knowles (NYSE:KN - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The communications equipment provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The company had revenue of $166.80 million for the quarter, compared to analyst estimates of $156.97 million. Knowles had a return on equity of 11.45% and a net margin of 10.63%.Knowles's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. Knowles has set its Q3 2026 guidance at 0.340-0.380 EPS. Equities research analysts anticipate that Knowles Corporation will post 1.02 EPS for the current year.

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.

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