Knowles (NYSE:KN) Share Price Breaks Above 200 Day Moving Average – Time to Sell?

Knowles Corporation (NYSE:KN)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $32.76 and traded as high as $34.16. Knowles shares last traded at $34.13, with a volume of 1,151,935 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KN. Wall Street Zen cut shares of Knowles from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research cut shares of Knowles from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. Weiss Ratings downgraded shares of Knowles from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Robert W. Baird set a $50.00 price target on shares of Knowles in a research report on Friday, October 23rd. Finally, Susquehanna cut their price objective on shares of Knowles from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Knowles has a consensus rating of “Hold” and a consensus price target of $41.00.

Knowles Price Performance

The company has a current ratio of 2.94, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $35.55 and a 200-day simple moving average of $32.88. The firm has a market cap of $2.99 billion, a PE ratio of 42.64 and a beta of 1.59.

Knowles (NYSE:KN) last announced its quarterly earnings data on Thursday, October 22nd. The communications equipment provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Knowles had a return on equity of 11.82% and a net margin of 10.76%. The business had revenue of $184.00 million for the quarter, compared to the consensus estimate of $172.10 million. During the same period in the previous year, the business earned $0.33 earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. Equities analysts anticipate that Knowles Corporation will post 1.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Knowles 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 transaction 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 trade represents a 15.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Knowles

Several hedge funds have recently modified their holdings of the stock. Millstone Evans Group LLC increased its holdings in Knowles by 212.9% in the 1st quarter. Millstone Evans Group LLC now owns 973 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 662 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Knowles by 35.9% during the second 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 last quarter. Integrated Wealth Concepts LLC purchased a new position in Knowles during the 2nd quarter valued at approximately $55,000. Public Employees Retirement System of Ohio bought a new position in Knowles during the second quarter valued at $58,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Knowles in the 2nd quarter worth $60,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.