Knowles Corporation $KN Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Knowles Corporation (NYSE:KN) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,813 shares of the communications equipment provider’s stock after purchasing an additional 3,239 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Knowles worth $912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KN. GAMMA Investing LLC raised its holdings in shares of Knowles by 1,518.9% in the 1st quarter. GAMMA Investing LLC now owns 45,022 shares of the communications equipment provider’s stock valued at $684,000 after purchasing an additional 42,241 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Knowles in the 1st quarter valued at $326,000. SG Americas Securities LLC raised its stake in Knowles by 50.0% during the 1st quarter. SG Americas Securities LLC now owns 23,763 shares of the communications equipment provider’s stock worth $361,000 after acquiring an additional 7,925 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Knowles by 46.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,881 shares of the communications equipment provider’s stock worth $226,000 after acquiring an additional 4,699 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Knowles by 38.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider’s stock worth $17,425,000 after acquiring an additional 320,587 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on KN. Craig Hallum lifted their price target on shares of Knowles from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Knowles from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Knowles in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Knowles Trading Up 1.5%

Shares of Knowles stock opened at $24.40 on Tuesday. Knowles Corporation has a 1 year low of $12.19 and a 1 year high of $24.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00. The company has a market capitalization of $2.10 billion, a P/E ratio of 84.14 and a beta of 1.53. The company’s fifty day moving average is $21.59 and its two-hundred day moving average is $18.31.

Insider Buying and Selling at Knowles

In other news, VP Air A. Jr. Bastarrica sold 10,000 shares of Knowles stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the vice president owned 62,537 shares of the company’s stock, valued at $1,309,524.78. The trade was a 13.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert J. Perna sold 56,130 shares of Knowles stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the sale, the senior vice president directly owned 66,552 shares in the company, valued at approximately $1,362,319.44. The trade was a 45.75% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.54% of the company’s stock.

Knowles Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).