Lapides Asset Management LLC grew its position in shares of Knowles Corp (NYSE:KN) by 16.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 295,700 shares of the communications equipment provider’s stock after acquiring an additional 42,100 shares during the quarter. Knowles comprises about 2.6% of Lapides Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Lapides Asset Management LLC owned about 0.32% of Knowles worth $4,512,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in KN. Victory Capital Management Inc. lifted its holdings in Knowles by 56.4% in the first quarter. Victory Capital Management Inc. now owns 1,418,972 shares of the communications equipment provider’s stock worth $18,986,000 after purchasing an additional 511,776 shares during the period. Norges Bank acquired a new stake in Knowles in the fourth quarter worth about $15,878,000. First Citizens Bank & Trust Co. acquired a new stake in Knowles in the second quarter worth about $167,000. Rhumbline Advisers lifted its holdings in Knowles by 4.7% in the first quarter. Rhumbline Advisers now owns 309,332 shares of the communications equipment provider’s stock worth $4,139,000 after purchasing an additional 13,964 shares during the period. Finally, AXA acquired a new stake in Knowles in the first quarter worth about $1,868,000. 97.34% of the stock is owned by institutional investors.
Knowles stock traded down $0.56 during midday trading on Friday, hitting $15.26. The company’s stock had a trading volume of 1,096,017 shares, compared to its average volume of 629,462. The company has a quick ratio of 2.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $15.18 and its 200-day moving average price is $15.75. Knowles Corp has a 12 month low of $11.10 and a 12 month high of $22.79. The company has a market capitalization of $1.40 billion, a PE ratio of 89.76, a price-to-earnings-growth ratio of 4.07 and a beta of 1.35.
Several equities research analysts recently weighed in on the stock. Craig Hallum reduced their price objective on shares of Knowles from $21.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Roth Capital reduced their price objective on shares of Knowles from $23.00 to $20.00 in a report on Tuesday, April 14th. Lake Street Capital upgraded shares of Knowles from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Thursday. Finally, Susquehanna Bancshares dropped their price target on shares of Knowles from $21.00 to $19.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Knowles presently has an average rating of “Buy” and a consensus target price of $20.13.
Knowles Company Profile
Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medical, defense, aerospace, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.
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