Sierra Summit Advisors LLC Buys New Shares in Kimball Electronics, Inc. $KE

Sierra Summit Advisors LLC purchased a new position in Kimball Electronics, Inc. (NASDAQ:KE) in the fourth quarter, Holdings Channel reports. The fund purchased 30,211 shares of the electronics maker’s stock, valued at approximately $840,000.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Kimball Electronics in the third quarter worth approximately $28,000. State of Alaska Department of Revenue purchased a new position in Kimball Electronics in the third quarter worth approximately $31,000. CWM LLC lifted its stake in Kimball Electronics by 135.2% in the fourth quarter. CWM LLC now owns 1,244 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 715 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in Kimball Electronics in the fourth quarter worth approximately $35,000. Finally, IFP Advisors Inc purchased a new position in Kimball Electronics in the third quarter worth approximately $48,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Wall Street Analysts Forecast Growth

KE has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Kimball Electronics from a “strong-buy” rating to a “buy” rating in a report on Monday, February 23rd. Weiss Ratings raised Kimball Electronics from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Kimball Electronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kimball Electronics has a consensus rating of “Hold” and a consensus price target of $32.00.

Kimball Electronics Stock Down 0.4%

Shares of Kimball Electronics stock opened at $24.21 on Friday. The company has a market cap of $582.25 million, a P/E ratio of 23.28, a PEG ratio of 0.84 and a beta of 1.25. The firm has a fifty day moving average of $25.14 and a two-hundred day moving average of $26.98. Kimball Electronics, Inc. has a one year low of $17.29 and a one year high of $33.19. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.29 and a current ratio of 2.11.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Tuesday, May 5th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The business had revenue of $352.92 million for the quarter, compared to analysts’ expectations of $356.27 million. Kimball Electronics had a return on equity of 6.22% and a net margin of 1.81%. On average, analysts forecast that Kimball Electronics, Inc. will post 1.44 earnings per share for the current year.

Kimball Electronics Profile

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.