Peregrine Capital Management LLC Acquires New Stake in Knowles Corp (NYSE:KN)

Peregrine Capital Management LLC bought a new position in shares of Knowles Corp (NYSE:KN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 378,165 shares of the communications equipment provider’s stock, valued at approximately $5,771,000. Peregrine Capital Management LLC owned 0.41% of Knowles at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in Knowles by 56.4% during 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 buying an additional 511,776 shares during the period. Norges Bank purchased a new position in shares of Knowles in the 4th quarter worth about $15,878,000. First Citizens Bank & Trust Co. purchased a new position in shares of Knowles in the 2nd quarter worth about $167,000. Rhumbline Advisers raised its holdings in shares of Knowles by 4.7% in the 1st 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 purchased a new position in shares of Knowles in the 1st quarter worth about $1,868,000. Hedge funds and other institutional investors own 97.34% of the company’s stock.

KN stock opened at $15.26 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.12 and a current ratio of 1.91. Knowles Corp has a 1 year low of $11.10 and a 1 year high of $22.79. The firm has a market cap of $1.40 billion, a P/E ratio of 89.76, a price-to-earnings-growth ratio of 4.07 and a beta of 1.35. The stock has a 50-day simple moving average of $15.18 and a 200-day simple moving average of $15.75.

Knowles (NYSE:KN) last posted its earnings results on Wednesday, July 29th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Knowles had a return on equity of 4.46% and a net margin of 2.20%. The business had revenue of $152.20 million during the quarter, compared to analyst estimates of $145.41 million. During the same quarter last year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 25.8% compared to the same quarter last year. On average, equities research analysts predict that Knowles Corp will post 0.38 EPS for the current year.

KN has been the topic of a number of research reports. Craig Hallum cut their price objective on Knowles from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Lake Street Capital upgraded Knowles from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday. Roth Capital cut their price objective on Knowles from $23.00 to $20.00 in a report on Tuesday, April 14th. Finally, Susquehanna Bancshares cut their price objective on Knowles from $21.00 to $19.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $20.13.

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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