Peregrine Capital Management LLC Invests $5.77 Million in Knowles Corp (NYSE:KN)

Peregrine Capital Management LLC acquired a new position in Knowles Corp (NYSE:KN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 378,165 shares of the communications equipment provider’s stock, valued at approximately $5,771,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of KN. Marshall Wace North America L.P. acquired a new position in shares of Knowles in the 1st quarter worth $25,000. UBS Group AG grew its holdings in shares of Knowles by 51.5% during the fourth quarter. UBS Group AG now owns 124,706 shares of the communications equipment provider’s stock valued at $2,638,000 after buying an additional 42,381 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Knowles by 2.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 97,500 shares of the communications equipment provider’s stock valued at $2,062,000 after buying an additional 2,459 shares in the last quarter. Man Group plc grew its holdings in shares of Knowles by 206.6% during the fourth quarter. Man Group plc now owns 47,115 shares of the communications equipment provider’s stock valued at $996,000 after buying an additional 31,750 shares in the last quarter. Finally, Mason Street Advisors LLC grew its holdings in shares of Knowles by 3.1% during the fourth quarter. Mason Street Advisors LLC now owns 29,973 shares of the communications equipment provider’s stock valued at $634,000 after buying an additional 891 shares in the last quarter. 97.34% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on KN. Lake Street Capital upgraded Knowles from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday. Craig Hallum lowered their price target on Knowles from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Roth Capital lowered their price target on Knowles from $23.00 to $20.00 in a report on Tuesday, April 14th. Finally, Susquehanna Bancshares reduced their price objective on Knowles from $21.00 to $19.00 and set a “positive” rating for the company in a research 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 assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $20.13.

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

Knowles (NYSE:KN) last released its quarterly earnings data 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 firm had revenue of $152.20 million during the quarter, compared to analysts’ expectations of $145.41 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was down 25.8% on a year-over-year basis. As a group, sell-side analysts forecast that Knowles Corp will post 0.38 earnings per share for the current fiscal year.

Knowles Company 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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