Knowles (NYSE:KN) Downgraded by StockNews.com to “Hold”

Posted by on Oct 26th, 2023

StockNews.com cut shares of Knowles (NYSE:KN – Free Report) from a buy rating to a hold rating in a report issued on Wednesday.

Other analysts have also recently issued research reports about the stock. Susquehanna dropped their price objective on shares of Knowles from $16.00 to $15.00 and set a neutral rating for the company in a research note on Tuesday. TheStreet cut Knowles from a c- rating to a d+ rating in a research note on Tuesday.

View Our Latest Report on Knowles

Knowles Trading Down 1.3 %

Shares of NYSE:KN opened at $13.28 on Wednesday. Knowles has a 12-month low of $12.68 and a 12-month high of $20.25. The business has a 50 day moving average of $14.87 and a 200-day moving average of $16.31. The company has a quick ratio of 1.70, a current ratio of 3.47 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.21 billion, a PE ratio of -6.15 and a beta of 1.42.

Knowles (NYSE:KN – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $173.00 million during the quarter. Knowles had a negative net margin of 28.43% and a positive return on equity of 4.57%.

Hedge Funds Weigh In On Knowles

Several hedge funds have recently bought and sold shares of KN. Citigroup Inc. increased its stake in Knowles by 16.5% in the first quarter. Citigroup Inc. now owns 82,435 shares of the communications equipment provider’s stock valued at $1,775,000 after acquiring an additional 11,686 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of Knowles by 13.6% during the 1st quarter. Natixis Advisors L.P. now owns 27,587 shares of the communications equipment provider’s stock worth $594,000 after buying an additional 3,297 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Knowles by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 48,592 shares of the communications equipment provider’s stock worth $1,046,000 after buying an additional 17,641 shares during the last quarter. Rhumbline Advisers boosted its stake in Knowles by 1.9% in the first quarter. Rhumbline Advisers now owns 258,981 shares of the communications equipment provider’s stock valued at $5,576,000 after buying an additional 4,819 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Knowles by 13.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 79,152 shares of the communications equipment provider’s stock valued at $1,704,000 after acquiring an additional 9,357 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

About Knowles

(Get Free Report)

Knowles Corporation offers micro-acoustic microphones and balanced armature speakers, audio solutions, high performance capacitors, and radio frequency products for the consumer electronics, medtech, defense, electric vehicle, industrial, and communications markets. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).

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