Kimball Electronics, Inc. (NASDAQ:KE) Stake Reduced by Millennium Management LLC

Millennium Management LLC cut its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 247,408 shares of the electronics maker's stock after selling 80,043 shares during the quarter. Millennium Management LLC owned approximately 1.00% of Kimball Electronics worth $4,634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its holdings in Kimball Electronics by 239.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 200,362 shares of the electronics maker's stock valued at $3,753,000 after purchasing an additional 141,411 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kimball Electronics by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 1,945,556 shares of the electronics maker's stock worth $36,440,000 after purchasing an additional 92,166 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Kimball Electronics by 142.1% during the fourth quarter. JPMorgan Chase & Co. now owns 113,208 shares of the electronics maker's stock worth $2,120,000 after purchasing an additional 66,444 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Kimball Electronics in the fourth quarter worth $1,147,000. Finally, Martingale Asset Management L P purchased a new position in Kimball Electronics in the fourth quarter worth $1,088,000. 75.99% of the stock is owned by institutional investors and hedge funds.

Kimball Electronics Trading Up 0.9%

Shares of NASDAQ KE traded up $0.17 during midday trading on Monday, hitting $18.27. The stock had a trading volume of 308,361 shares, compared to its average volume of 132,260. The company has a market capitalization of $445.42 million, a price-to-earnings ratio of 57.10 and a beta of 1.11. Kimball Electronics, Inc. has a 1-year low of $12.41 and a 1-year high of $24.45. The company has a quick ratio of 1.29, a current ratio of 2.28 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average price of $15.71 and a 200 day moving average price of $17.35.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The electronics maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $374.61 million for the quarter, compared to the consensus estimate of $338.08 million. Kimball Electronics had a return on equity of 5.48% and a net margin of 0.51%. On average, analysts predict that Kimball Electronics, Inc. will post 0.89 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen raised Kimball Electronics from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Lake Street Capital decreased their price target on Kimball Electronics from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.75.

Kimball Electronics Company 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.