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Knowles (NYSE:KN) Shares Gap Up - Still a Buy?

Knowles logo with Computer and Technology background

Key Points

  • Knowles Corporation's share price gapped up to open at $20.40 from a previous close of $18.66.
  • Wall Street analysts have raised Knowles' target price, with Robert W. Baird increasing it from $18.00 to $22.00 and upgrading the stock to "outperform."
  • The company reported earnings of $0.18 per share, matching consensus estimates, with quarterly revenue of $132.20 million.
  • Insider trading activity indicates a 4.75% decrease in ownership for SVP Raymond D. Cabrera, who sold shares worth approximately $95,651.
  • Five stocks we like better than Knowles.
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Knowles Corporation (NYSE:KN - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $18.66, but opened at $20.40. Knowles shares last traded at $20.59, with a volume of 221,509 shares.

Wall Street Analysts Forecast Growth

KN has been the subject of a number of research reports. Robert W. Baird lifted their target price on Knowles from $18.00 to $22.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Wall Street Zen raised Knowles from a "hold" rating to a "buy" rating in a report on Monday. Finally, Craig Hallum upgraded Knowles from a "hold" rating to a "buy" rating and set a $17.00 price target for the company in a research report on Monday, April 7th.

Get Our Latest Stock Report on Knowles

Knowles Stock Performance

The firm has a 50-day moving average of $17.40 and a two-hundred day moving average of $17.07. The company has a quick ratio of 1.30, a current ratio of 2.02 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.80 billion, a PE ratio of -7.64 and a beta of 1.41.

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

Insider Activity at Knowles

In other news, SVP Raymond D. Cabrera sold 5,545 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 111,286 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. 2.54% of the stock is owned by company insiders.

Institutional Trading of Knowles

Institutional investors and hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Knowles in the fourth quarter worth approximately $28,798,000. Raymond James Financial Inc. acquired a new stake in shares of Knowles in the fourth quarter worth approximately $16,297,000. Norges Bank acquired a new stake in shares of Knowles in the fourth quarter worth approximately $7,983,000. Royce & Associates LP boosted its stake in shares of Knowles by 31.5% in the first quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider's stock worth $24,498,000 after acquiring an additional 386,155 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Knowles in the first quarter worth approximately $5,581,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Knowles Company Profile

(Get Free Report)

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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