Knowles (NYSE:KN) upgraded by Zacks Investment Research to Strong-Buy
Knowles (NYSE:KN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note released Friday to investors, Zacks.com reports. The brokerage currently has a target price of $27.00 on shares of the communications equipment provider. Zacks Investment Research’s price target would suggest a potential upside of 21.57% from the stock’s previous close.
According to Zacks, “Knowles reported strong results in the fourth quarter of 2021, in which both the lower and upper lines exceeded the Zacks consensus estimate. The company is focused on delivering differentiated, high-value solutions to a diverse set of growing end markets to expand its gross margin. It continues to benefit from strong demand for MEMS (micro-electro-mechanical systems) microphones. It intends to capitalize on acoustics to help users interact with technology through voice commands.Knowles has an integrated design and manufacturing scale of operations, which allows it to have the flexibility and fast time to market.It has partnered with the supplier Fluent.ai voice recognition software to demonstrate next-generation voice-activated True Wireless Stereo headphones. provisioning and an international extension of the footprint remain concerns.”
Several other research analysts have also recently weighed in on KN. Colliers Securities moved Knowles’ shares from a “neutral” rating to a “buy” rating and set a price target of $25.50 for the company in a report released Thursday. StockNews.com upgraded Knowles’ shares from a “buy” rating to a “hold” rating in a report released Thursday. Three analysts rated the stock with a hold rating, two gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $24.30.
Shares of Knowles opened at $22.21 on Friday. The stock has a market capitalization of $2.05 billion, a PE ratio of 23.88, a growth price-earnings ratio of 1.65 and a beta of 1.40. Knowles has a 52-week low of $18.20 and a 52-week high of $23.81. The company has a 50-day simple moving average of $22.26 and a two-hundred-day simple moving average of $20.82.
Knowles Inc (NYSE:KN) last released its results on Tuesday, February 8. The communications equipment provider reported earnings per share (EPS) of $0.48 for the quarter, beating the consensus estimate of $0.44 by $0.04. Knowles had a net margin of 9.97% and a return on equity of 8.54%. In the same period a year earlier, the company earned earnings per share of $0.37. On average, research analysts expect Knowles to post 1.19 earnings per share for the current fiscal year.
In other Knowles news, CEO Jeffrey Niew sold 106,383 shares of the company in a trade that took place on Monday, January 3. The shares were sold at an average price of $23.50, for a total value of $2,500,000.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, Chief Financial Officer John S. Anderson sold 50,000 shares of the company in a transaction on Monday, December 13. The stock was sold at an average price of $22.01, for a total transaction of $1,100,500.00. The disclosure of this sale can be found here. Company insiders own 5.07% of the company’s shares.
A number of hedge funds have recently increased or reduced their stakes in the company. Marshall Wace North America LP bought a new equity stake in Knowles in the first quarter worth $25,000. Whittier Trust Co. of Nevada Inc. bought a new position from Knowles in Q3 worth about $32,000. First Horizon Advisors Inc. bought a new position in Knowles in Q3 worth approximately $44,000. Point72 Hong Kong Ltd bought a new position in Knowles during Q3 worth around $103,000. Finally, ARK Investment Management LLC bought a new position in Knowles during Q4 worth approximately $196,000. Institutional investors and hedge funds own 99.91% of the company’s shares.
Knowles Corp. provides advanced micro-acoustics, audio processing and precision device solutions. It operates through the following segments: Audio and Precision Devices. The Audio segment includes analog and digital micro-electro-mechanical system microphones, electret condenser microphones, smart microphones, ultrasonic sensors, acoustic processors and balanced armature speakers.
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