Knowles (NYSE:KN) Share Price Breaks Below Two Hundred Day Moving Average – What’s Next?

Knowles Corporation (NYSE:KN) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $33.10 and traded as low as $30.22. Knowles shares last traded at $30.3420, with a volume of 1,128,301 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KN. Robert W. Baird set a $50.00 price target on Knowles in a research note on Friday, October 23rd. Zacks Research raised shares of Knowles from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Weiss Ratings cut shares of Knowles from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Wall Street Zen downgraded shares of Knowles from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Susquehanna dropped their target price on shares of Knowles from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Knowles presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Knowles Trading Up 3.0%

The company has a quick ratio of 1.60, a current ratio of 2.94 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 38.09 and a beta of 1.60. The company has a 50-day moving average price of $35.39 and a 200 day moving average price of $33.13.

Knowles (NYSE:KN) last posted its quarterly earnings results on Thursday, October 22nd. The communications equipment provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $172.10 million. Knowles had a return on equity of 11.82% and a net margin of 10.76%. Knowles’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, research analysts anticipate that Knowles Corporation will post 1.10 earnings per share for the current fiscal year.

Insider Buying and Selling at Knowles

In other news, Director Cheryl Shavers sold 6,618 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $39.27, for a total value of $259,888.86. Following the completion of the sale, the director directly owned 35,723 shares of the company’s stock, valued at $1,402,842.21. This represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in Knowles by 23.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,479 shares of the communications equipment provider’s stock worth $55,000 after buying an additional 282 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Knowles by 35.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,151 shares of the communications equipment provider’s stock valued at $48,000 after buying an additional 304 shares during the period. Signaturefd LLC grew its holdings in shares of Knowles by 5.5% during the 3rd quarter. Signaturefd LLC now owns 6,116 shares of the communications equipment provider’s stock valued at $227,000 after acquiring an additional 318 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Knowles by 57.8% during the 3rd quarter. Allworth Financial LP now owns 904 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 331 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC grew its holdings in shares of Knowles by 6.7% during the 2nd quarter. BTG Pactual Asset Management US LLC now owns 8,391 shares of the communications equipment provider’s stock valued at $348,000 after acquiring an additional 524 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

About Knowles

Knowles Corporation (NYSE: KN) is a global manufacturer of advanced electronic components and solutions for audio, communications, medical, industrial and other specialized applications. The company develops products that support sound capture, audio processing, signal management and high-performance connectivity in a range of electronic devices and systems.

Its portfolio includes microelectromechanical systems (MEMS) microphones, audio processors, speakers, receivers, balanced armature drivers and other acoustic components.