Knowles (NYSE:KN) Price Target Raised to $22.00 at Craig Hallum

Key Points

• Craig Hallum has raised its price target for Knowles (NYSE:KN) from $20.00 to $22.00, maintaining a "buy" rating, which implies an upside of 8.64% from the current stock price.
• Other analysts, including Robert W. Baird, have also increased their target prices for Knowles, reflecting growing confidence in the company's performance.
• Knowles reported earnings of $0.18 per share with revenues of $132.20 million, meeting analyst expectations, but showing a slight year-over-year decline in revenue.
• Institutional investors and hedge funds own approximately 96.35% of Knowles' stock, indicating strong institutional support for the company.

Knowles (NYSE:KN - Get Free Report) had its price objective upped by equities research analysts at Craig Hallum from $20.00 to $22.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the communications equipment provider's stock. Craig Hallum's target price suggests a potential upside of 8.64% from the company's current price.

Several other equities analysts have also recently commented on KN. Robert W. Baird increased their target price on Knowles from $18.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Wall Street Zen raised Knowles from a "hold" rating to a "buy" rating in a research report on Monday.

Knowles Trading Up 8.5%

Shares of NYSE KN traded up $1.59 on Friday, reaching $20.25. 1,263,522 shares of the company traded hands, compared to its average volume of 729,041. Knowles has a fifty-two week low of $12.19 and a fifty-two week high of $20.85. The company has a 50 day moving average of $17.40 and a 200 day moving average of $17.07. The company has a current ratio of 2.02, a quick ratio of 1.30 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.76 billion, a PE ratio of -7.50 and a beta of 1.41.

Knowles (NYSE:KN - Get Free Report) last posted its earnings results on Thursday, April 24th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $132.20 million during the quarter, compared to the consensus estimate of $128.95 million. Knowles had a negative net margin of 38.96% and a positive return on equity of 6.35%. The company's revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS.

Insider Activity at Knowles

In related news, SVP Raymond D. Cabrera sold 5,545 shares of Knowles stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $17.25, for a total transaction of $95,651.25. Following the transaction, the senior vice president directly owned 111,286 shares of the company's stock, valued at $1,919,683.50. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.54% of the company's stock.

Hedge Funds Weigh In On Knowles

A number of hedge funds and other institutional investors have recently modified their holdings of KN. Versant Capital Management Inc raised its stake in shares of Knowles by 725.6% in the 1st quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 1,444 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Knowles by 835.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider's stock worth $55,000 after acquiring an additional 2,448 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Knowles by 47.0% in the first quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 1,184 shares during the last quarter. GAMMA Investing LLC grew its stake in Knowles by 118.8% in the second quarter. GAMMA Investing LLC now owns 6,482 shares of the communications equipment provider's stock valued at $114,000 after acquiring an additional 3,520 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Knowles in the first quarter valued at about $106,000. Institutional investors and hedge funds 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).

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