Matrix Capital Management Company Lp buys $49,137,600 stake in Knowles Corp (KN)

Knowles Corp (KN) : Matrix Capital Management Company Lp scooped up 1,585,000 additional shares in Knowles Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,530,000 shares of Knowles Corp which is valued at $49,137,600.Knowles Corp makes up approximately 2.08% of Matrix Capital Management Company Lp’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in KN in the latest quarter, The investment management firm added 9,720 additional shares and now holds a total of 39,200 shares of Knowles Corp which is valued at $545,664. Knowles Corp makes up approx 0.03% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Estabrook Capital Management reduced its stake in KN by selling 100 shares or 2.21% in the most recent quarter. The Hedge Fund company now holds 4,421 shares of KN which is valued at $61,540. Knowles Corp makes up approx 0.01% of Estabrook Capital Management’s portfolio. Canada Pension Plan Investment Board sold out all of its stake in KN during the most recent quarter. The investment firm sold 700 shares of KN which is valued $9,744.

Knowles Corp opened for trading at $13.88 and hit $14.02 on the upside on Thursday, eventually ending the session at $13.95, with a gain of 0.36% or 0.05 points. The heightened volatility saw the trading volume jump to 5,68,528 shares. Company has a market cap of $1,237 M.

On the company’s financial health, Knowles Corp reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.03. The company had revenue of $185.30 million for the quarter, compared to analysts expectations of $180.18 million. The company’s revenue was down -.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.06 EPS.

Many Wall Street Analysts have commented on Knowles Corp. Knowles Corp was Initiated by JP Morgan to “Neutral” on Sep 6, 2016. The Benchmark Company Initiated Knowles Corp on Jun 29, 2016 to “Hold”, Price Target of the shares are set at $15.

Knowles Corporation (Knowles) is a supplier of micro-acoustic solutions and specialty components serving the mobile communications consumer electronics medical technology military aerospace and industrial markets. The Company operates micro-electro-mechanical systems (MEMS) microphones speakers and receivers which are used in smartphones tablets and mobile handsets. The Company’s segments include Mobile Consumer Electronics (MCE) and Specialty Components (SC). MCE includes analog and digital microphones MEMS microphones surface mounted device microphones multi-functional devices and integrated audio sub-systems among others. SC includes transducers oscillators capacitors and filters. The Company is also a manufacturer of transducers used in hearing aids and other medical devices and capacitor components which provide various types of communication. The Company’s wholly owned subsidiary Audience Inc. offers intelligent audio and signal processing solutions.

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