Key Tronic (NASDAQ:KTCC) Updates Q4 2022 Earnings Guidance

Key Tronic (NASDAQ:KTCC – Get Rating) updated its fourth quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.04-$0.10 for the period. The company issued revenue guidance of $125.00 million-$135.00 million.

Separately, StockNews.com assumed coverage on shares of Key Tronic in a research report on Saturday. They issued a hold rating for the company.

Shares of KTCC stock traded down $0.13 during mid-day trading on Monday, hitting $5.03. The company had a trading volume of 3,100 shares, compared to its average volume of 13,638. Key Tronic has a 52-week low of $5.00 and a 52-week high of $7.48. The stock’s 50 day moving average price is $5.52 and its 200-day moving average price is $5.91. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.09 and a quick ratio of 1.15. The company has a market capitalization of $54.13 million, a P/E ratio of 21.87 and a beta of 1.53.

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in shares of Key Tronic by 20.9% in the second quarter. Morgan Stanley now owns 1,534,171 shares of the technology company’s stock worth $10,003,000 after buying an additional 265,186 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Key Tronic by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 797,145 shares of the technology company’s stock valued at $4,504,000 after purchasing an additional 7,277 shares in the last quarter. Vanguard Group Inc. raised its stake in Key Tronic by 6.0% during the first quarter. Vanguard Group Inc. now owns 436,002 shares of the technology company’s stock valued at $2,463,000 after purchasing an additional 24,521 shares in the last quarter. Ancora Advisors LLC raised its stake in Key Tronic by 20.3% during the first quarter. Ancora Advisors LLC now owns 119,073 shares of the technology company’s stock valued at $918,000 after purchasing an additional 20,100 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Key Tronic by 8.0% during the fourth quarter. Renaissance Technologies LLC now owns 66,775 shares of the technology company’s stock valued at $418,000 after purchasing an additional 4,960 shares in the last quarter. 42.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Tronic Company Profile (Get Rating)

Key Tronic Corporation provides contract manufacturing services to original equipment manufacturers in the United States and internationally. The company offers integrated electronic and mechanical engineering, assembly, sourcing and procurement, logistics, and new product testing services. Its services include product design; surface mount technologies and pin through hole capability for printed circuit board assembly; tool making; precision plastic molding; sheet metal fabrication and painting; liquid injection molding; complex assembly; automated tape winding; prototype design; and full product assembly services.

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