The Anchor Capital Advisors LLC Acquires 36,854 Shares of Knowles Corp. (KN)

The Anchor Capital Advisors LLC Acquires 36,854  Shares of Knowles Corp. (KN)

Anchor Capital Advisors LLC bought a new stake in Knowles Corp. (NYSE:KN) during the second quarter, Holdings Channel reports. The fund bought 36,854 shares of the company’s stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ngam Advisors L.P. boosted its position in Knowles Corp. by 13.2% in the second quarter. Ngam Advisors L.P. now owns 160,098 shares of the company’s stock valued at $2,190,000 after buying an additional 18,622 shares during the last quarter. BB&T Corp boosted its position in Knowles Corp. by 1.6% in the second quarter. BB&T Corp now owns 335,776 shares of the company’s stock valued at $4,594,000 after buying an additional 5,351 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Knowles Corp. during the second quarter valued at approximately $811,000. CWM LLC boosted its position in Knowles Corp. by 6.7% in the second quarter. CWM LLC now owns 605,667 shares of the company’s stock valued at $8,286,000 after buying an additional 37,895 shares during the last quarter. Finally, Jag Capital Management LLC bought a new position in Knowles Corp. during the second quarter valued at approximately $147,000.

Knowles Corp. (NYSE:KN) traded down 0.68% during mid-day trading on Friday, hitting $14.57. The stock had a trading volume of 718,413 shares. The company has a 50-day moving average of $14.30 and a 200-day moving average of $14.11. The firm’s market cap is $1.29 billion. Knowles Corp. has a 12-month low of $9.68 and a 12-month high of $18.92.

Knowles Corp. (NYSE:KN) last announced its earnings results on Monday, October 24th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. The company earned $243.10 million during the quarter, compared to the consensus estimate of $233.11 million. Knowles Corp. had a positive return on equity of 6.11% and a negative net margin of 26.75%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. Analysts expect that Knowles Corp. will post $0.90 earnings per share for the current year.

Several research analysts recently commented on the company. Zacks Investment Research raised Knowles Corp. from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Saturday. Roth Capital initiated coverage on Knowles Corp. in a report on Thursday, September 29th. They set a “buy” rating and a $16.00 price target for the company. Susquehanna initiated coverage on Knowles Corp. in a report on Tuesday, September 20th. They set a “negative” rating and a $12.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on Knowles Corp. in a report on Tuesday, September 6th. They set a “neutral” rating and a $15.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.27.

Knowles Corp. Company Profile

Knowles Corporation is a supplier of advanced micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. It uses micro-electro-mechanical systems (MEMS) microphones and audio processing technologies to optimize audio systems and develop the user experience in smartphones, tablets and wearables.

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