Geode Capital Management LLC raised its stake in shares of Knowles Corporation (NYSE:KN) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 665,983 shares of the communications equipment provider’s stock after buying an additional 22,119 shares during the period. Geode Capital Management LLC owned about 0.75% of Knowles Corporation worth $12,620,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Knowles Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 7,326,833 shares of the communications equipment provider’s stock worth $138,844,000 after buying an additional 300,512 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Knowles Corporation during the first quarter worth $2,014,000. MARSHALL WACE ASIA Ltd bought a new position in shares of Knowles Corporation during the first quarter worth $2,014,000. Thrivent Financial For Lutherans raised its position in shares of Knowles Corporation by 9.4% in the first quarter. Thrivent Financial For Lutherans now owns 16,660 shares of the communications equipment provider’s stock worth $316,000 after buying an additional 1,430 shares during the last quarter. Finally, Ngam Advisors L.P. raised its position in shares of Knowles Corporation by 6.3% in the first quarter. Ngam Advisors L.P. now owns 164,999 shares of the communications equipment provider’s stock worth $3,127,000 after buying an additional 9,710 shares during the last quarter.
Shares of Knowles Corporation (KN) traded down 0.91% on Friday, hitting $14.17. 696,398 shares of the stock traded hands. Knowles Corporation has a 52 week low of $13.32 and a 52 week high of $19.90. The stock has a 50 day moving average price of $15.79 and a 200-day moving average price of $17.67. The stock’s market cap is $1.27 billion.
Knowles Corporation (NYSE:KN) last announced its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. The company had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $190.24 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. Knowles Corporation’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that Knowles Corporation will post $0.95 EPS for the current year.
A number of brokerages recently weighed in on KN. Dougherty & Co initiated coverage on shares of Knowles Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $22.00 target price for the company. BidaskClub downgraded shares of Knowles Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Zacks Investment Research downgraded shares of Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Knowles Corporation presently has a consensus rating of “Hold” and an average price target of $18.33.
In other Knowles Corporation news, insider Michael S. Polacek purchased 3,246 shares of Knowles Corporation stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average price of $15.40 per share, for a total transaction of $49,988.40. Following the completion of the transaction, the insider now owns 42,866 shares of the company’s stock, valued at approximately $660,136.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.
About Knowles Corporation
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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