Lapides Asset Management buys $24,857,280 stake in Knowles Corp (KN)

Knowles Corp (KN) : Lapides Asset Management scooped up 10,000 additional shares in Knowles Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 1,814,400 shares of Knowles Corp which is valued at $24,857,280.Knowles Corp makes up approximately 4.09% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust boosted its stake in KN in the latest quarter, The investment management firm added 59 additional shares and now holds a total of 478 shares of Knowles Corp which is valued at $6,549.Signaturefd reduced its stake in KN by selling 275 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 1,100 shares of KN which is valued at $14,784.Strs Ohio reduced its stake in KN by selling 75,300 shares or 2.53% in the most recent quarter. The Hedge Fund company now holds 2,903,700 shares of KN which is valued at $40,942,170. Knowles Corp makes up approx 0.18% of Strs Ohio’s portfolio.Msi Financial Services Inc reduced its stake in KN by selling 50 shares or 21.55% in the most recent quarter. The Hedge Fund company now holds 182 shares of KN which is valued at $2,566.Eqis Capital Management boosted its stake in KN in the latest quarter, The investment management firm added 613 additional shares and now holds a total of 17,353 shares of Knowles Corp which is valued at $274,177. Knowles Corp makes up approx 0.02% of Eqis Capital Management’s portfolio.

Knowles Corp opened for trading at $14.01 and hit $14.39 on the upside on Monday, eventually ending the session at $14.37, with a gain of 3.23% or 0.45 points. The heightened volatility saw the trading volume jump to 5,92,712 shares. Company has a market cap of $1,275 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. 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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