Goldman Sachs Group Inc. increased its stake in Knowles (NYSE:KN) by 184.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,058,846 shares of the communications equipment provider’s stock after purchasing an additional 1,335,791 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.30% of Knowles worth $30,183,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of KN. Dimensional Fund Advisors LP increased its stake in Knowles by 20.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,343,949 shares of the communications equipment provider’s stock worth $66,332,000 after purchasing an additional 725,486 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Knowles in the 4th quarter worth about $3,040,000. BlackRock Inc. increased its stake in Knowles by 1.0% in the 4th quarter. BlackRock Inc. now owns 9,371,743 shares of the communications equipment provider’s stock worth $137,389,000 after purchasing an additional 92,190 shares in the last quarter. Royce & Associates LP increased its stake in Knowles by 8.5% in the 4th quarter. Royce & Associates LP now owns 1,109,950 shares of the communications equipment provider’s stock worth $16,272,000 after purchasing an additional 86,500 shares in the last quarter. Finally, Heartland Advisors Inc. grew its stake in Knowles by 12.7% during the 4th quarter. Heartland Advisors Inc. now owns 676,401 shares of the communications equipment provider’s stock valued at $9,916,000 after acquiring an additional 76,315 shares in the last quarter.
KN has been the topic of several research analyst reports. Piper Jaffray Companies initiated coverage on Knowles in a research note on Wednesday, December 20th. They set a “neutral” rating and a $15.50 target price on the stock. Zacks Investment Research cut Knowles from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Lake Street Capital lowered their target price on Knowles from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $17.00 target price (down previously from $20.00) on shares of Knowles in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Knowles presently has a consensus rating of “Hold” and an average price target of $18.08.
Knowles (NYSE:KN) last released its earnings results on Wednesday, February 7th. The communications equipment provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.07. Knowles had a return on equity of 6.28% and a net margin of 8.32%. The company had revenue of $215.50 million for the quarter, compared to analysts’ expectations of $221.96 million. During the same quarter in the previous year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. equities research analysts forecast that Knowles will post 0.75 earnings per share for the current year.
In other news, Director Didier Hirsch purchased 3,000 shares of Knowles stock in a transaction dated Friday, February 16th. The stock was acquired at an average cost of $14.45 per share, for a total transaction of $43,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have acquired 8,009 shares of company stock worth $114,693. Company insiders own 2.20% of the company’s stock.
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Knowles Company Profile
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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