Knowles (NYSE:KN) Price Target Raised to $23.00

Key Points

• Knowles Corporation's price target has been increased from $18.00 to $23.00 by Susquehanna, maintaining a "neutral" rating on the stock.
• Analyst ratings for Knowles are mixed, with two analysts rating it as a "Buy" and two as "Hold," leading to a consensus rating of "Moderate Buy."
• As of the latest trading session, Knowles shares increased by 0.5%, reaching a price of $23.72, with a market capitalization of $2.04 billion.

Knowles (NYSE:KN - Get Free Report) had its price objective hoisted by Susquehanna from $18.00 to $23.00 in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a "neutral" rating on the communications equipment provider's stock. Susquehanna's target price points to a potential downside of 3.04% from the company's previous close.

A number of other brokerages have also recently weighed in on KN. Weiss Ratings reissued a "hold (c-)" rating on shares of Knowles in a report on Wednesday, October 8th. Craig Hallum increased their target price on shares of Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen raised shares of Knowles from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.33.

Knowles Stock Up 0.5%

Shares of Knowles stock traded up $0.12 during trading on Wednesday, reaching $23.72. The company had a trading volume of 12,880 shares, compared to its average volume of 695,986. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 81.80 and a beta of 1.53. Knowles has a fifty-two week low of $12.19 and a fifty-two week high of $24.53. The firm's fifty day moving average is $22.31 and its 200-day moving average is $18.91. 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 Transactions at Knowles

In related news, SVP Robert J. Perna sold 56,130 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $20.47, for a total value of $1,148,981.10. Following the sale, the senior vice president owned 66,552 shares of the company's stock, valued at $1,362,319.44. This trade represents a 45.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the sale, the vice president directly owned 62,537 shares in the company, valued at approximately $1,309,524.78. This trade represents 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.

Hedge Funds Weigh In On Knowles

Large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its position in shares of Knowles by 94.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,842 shares of the communications equipment provider's stock valued at $31,000 after purchasing an additional 895 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Knowles by 47.0% during the 1st 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Knowles during the 1st quarter valued at about $106,000. GAMMA Investing LLC boosted its position in shares of Knowles by 118.8% during the 2nd quarter. GAMMA Investing LLC now owns 6,482 shares of the communications equipment provider's stock valued at $114,000 after purchasing an additional 3,520 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Knowles by 283.2% during the 2nd quarter. CWM LLC now owns 10,265 shares of the communications equipment provider's stock valued at $181,000 after purchasing an additional 7,586 shares in the last quarter. 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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