Millennium Management LLC Raises Stake in Knowles Corp (NYSE:KN)

Millennium Management LLC lifted its position in Knowles Corp (NYSE:KN) by 2,391.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 537,724 shares of the communications equipment provider’s stock after buying an additional 516,141 shares during the period. Millennium Management LLC owned approximately 0.60% of Knowles worth $7,157,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund purchased a new stake in shares of Knowles in the 4th quarter valued at $34,000. NumerixS Investment Technologies Inc acquired a new position in shares of Knowles in the 4th quarter valued at $40,000. AdvisorNet Financial Inc lifted its stake in shares of Knowles by 20.1% in the 4th quarter. AdvisorNet Financial Inc now owns 5,910 shares of the communications equipment provider’s stock valued at $79,000 after purchasing an additional 989 shares during the period. Paloma Partners Management Co acquired a new position in shares of Knowles in the 4th quarter valued at $133,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Knowles in the 4th quarter valued at $162,000.

Several equities analysts recently issued reports on the stock. Craig Hallum reiterated a “buy” rating and issued a $22.00 target price (up from $18.00) on shares of Knowles in a research note on Thursday, April 25th. JPMorgan Chase & Co. set a $15.00 target price on shares of Knowles and gave the company a “sell” rating in a research note on Tuesday, April 2nd. Zacks Investment Research upgraded shares of Knowles from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Saturday, April 27th. Lake Street Capital reiterated a “buy” rating and issued a $17.00 target price on shares of Knowles in a research note on Monday, January 14th. Finally, ValuEngine upgraded shares of Knowles from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.93.

NYSE:KN traded up $0.61 during trading hours on Friday, reaching $19.10. 1,136,923 shares of the company were exchanged, compared to its average volume of 976,019. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 2.71. The stock has a market capitalization of $1.74 billion, a PE ratio of 23.88, a P/E/G ratio of 2.09 and a beta of 1.12. Knowles Corp has a twelve month low of $12.20 and a twelve month high of $19.43.

Knowles (NYSE:KN) last posted its quarterly earnings data on Wednesday, April 24th. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.05). The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $175.00 million. Knowles had a return on equity of 6.05% and a net margin of 7.88%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. Research analysts forecast that Knowles Corp will post 0.9 earnings per share for the current year.

In other news, CEO Jeffrey Niew sold 11,629 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $16.01, for a total value of $186,180.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 2,739 shares of company stock valued at $45,128 over the last quarter. Company insiders own 3.70% of the company’s stock.

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Knowles 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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Institutional Ownership by Quarter for Knowles (NYSE:KN)

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