Knowles (NYSE:KN) Sets New 1-Year High - What's Next?

Key Points

• Knowles Corporation shares reached a new 52-week high of $22.08, marking a notable gain as the stock traded at $22.06 with a volume of 51,020 shares.
• Brokerage consensus rates Knowles stock as a Moderate Buy with a price target of $21.00, despite a downgrade from a "strong-buy" to a "buy" from Wall Street Zen.
• Insider selling has been reported with VP Air A. Jr. Bastarrica and SVP Robert J. Perna selling significant quantities of stock, indicating a 13.79% and 45.75% decrease in their respective ownership stakes.

Knowles Corporation (NYSE:KN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.08 and last traded at $22.06, with a volume of 51020 shares. The stock had previously closed at $21.53.

Analyst Ratings Changes

Several research firms have issued reports on KN. Craig Hallum increased their price objective on Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Knowles from a "buy" rating to a "strong-buy" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Knowles Price Performance

The business has a 50 day simple moving average of $20.16 and a two-hundred day simple moving average of $17.57. The firm has a market capitalization of $1.91 billion, a P/E ratio of 76.55 and a beta of 1.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ariel Investments LLC lifted its holdings in Knowles by 3.9% during the first quarter. Ariel Investments LLC now owns 4,657,747 shares of the communications equipment provider's stock worth $70,798,000 after buying an additional 174,549 shares during the period. Wellington Management Group LLP boosted its holdings in Knowles by 3.7% in the 1st quarter. Wellington Management Group LLP now owns 2,592,223 shares of the communications equipment provider's stock worth $39,402,000 after buying an additional 92,792 shares during the last quarter. Royce & Associates LP boosted its holdings in Knowles by 31.5% in the 1st quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider's stock worth $24,498,000 after buying an additional 386,155 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Knowles during the 4th quarter worth approximately $28,798,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Knowles by 6.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,220,236 shares of the communications equipment provider's stock valued at $21,635,000 after acquiring an additional 70,078 shares during the last quarter. Institutional investors own 96.35% of the company's stock.

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).