Knowles (NYSE:KN) Reaches New 12-Month High on Analyst Upgrade

Key Points

• Knowles Corporation (NYSE:KN) reached a new 52-week high after receiving an upgrade from Craig Hallum, which raised its price target from $20.00 to $22.00, maintaining a buy rating.
• In addition to Craig Hallum, Robert W. Baird also increased its price target on Knowles shares from $18.00 to $22.00, while Wall Street Zen upgraded its rating from hold to buy.
• Institutional investors have been actively adjusting their positions in Knowles, with Bank of America and Oppenheimer Asset Management increasing their stakes significantly in recent quarters.

Knowles Corporation (NYSE:KN - Get Free Report) shares hit a new 52-week high on Monday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $20.85 and last traded at $20.83, with a volume of 874836 shares changing hands. The stock had previously closed at $20.39.

Several other brokerages have also recently commented on KN. Robert W. Baird raised their price objective on shares of Knowles from $18.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Craig Hallum lifted their price target on shares of Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, July 25th.

Insider Transactions at Knowles

In related news, VP Air A. Jr. Bastarrica sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the vice president owned 62,537 shares of the company's stock, valued at approximately $1,309,524.78. This represents a 13.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Raymond D. Cabrera sold 5,545 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $17.25, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold a total of 71,675 shares of company stock valued at $1,454,032 in the last ninety days. Corporate insiders own 2.54% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KN. Versant Capital Management Inc grew its position in shares of Knowles by 725.6% in the first quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 1,444 shares during the period. Sterling Capital Management LLC boosted its stake in Knowles by 835.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider's stock worth $55,000 after buying an additional 2,448 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Knowles by 47.0% in the 1st quarter. Meeder Asset Management Inc. now owns 3,703 shares of the communications equipment provider's stock valued at $56,000 after buying an additional 1,184 shares during the period. GAMMA Investing LLC increased its stake 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 acquiring an additional 3,520 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Knowles during the 1st quarter worth about $106,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Knowles Stock Performance

The company's fifty day moving average price is $17.78 and its two-hundred day moving average price is $17.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00. The firm has a market capitalization of $1.72 billion, a PE ratio of 68.09 and a beta of 1.41.

Knowles Company Profile

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).