Knowles Corp Director Sells $217,490 in Company Stock

On September 23, Cheryl L. Shavers, a director at Knowles Corp, executed a transaction involving the sale of 12,579 shares of the company’s stock, amounting to approximately $217,490. The shares were sold at an average price of $17.29, with individual transaction prices ranging from $17.22 to $17.36.

As a result of this sale, Shavers now holds a total of 48,933 shares of Knowles Corp common stock. This transaction was reported in accordance with regulations set forth by the Securities and Exchange Commission, detailing the various prices at which the stock was sold.

The trading activities of company insiders, such as directors, are closely monitored by investors, as these actions can sometimes offer insights into their outlook on the company’s performance. However, it’s important to note that such transactions may be driven by various factors and may not necessarily reflect the company’s operational health or future stock potential.

Knowles Corp, located in Itasca, Illinois, is involved in the household audio and video equipment industry.

In recent updates, Knowles Corp has experienced several notable developments. The company reported robust revenues of $205 million for the second quarter of 2024, representing an 18% increase compared to the previous year. This growth was primarily driven by a 55% revenue increase in the Precision Devices segment, while the Medtech & Specialty Audio segment and the Consumer MEMS Microphone business also saw growth rates of 4% and 9%, respectively.

In a strategic decision, Knowles sold its Consumer MEMS Microphone (CMM) business to Syntiant Corp for $150 million, a move that received positive feedback from analysts and led to an increase in Knowles’ stock price target. This transaction is anticipated to strengthen Knowles’ financial position and refine its business focus.

Additionally, the company’s MIL-PRF-55681 capacitors have successfully met the rigorous standards of the Defense Logistics Agency for defense and aerospace applications and have been added to the U.S. Department of Defense’s Qualified Products List. In other company news, Erania Brackett has left the Knowles Corporation Board of Directors due to changes in her principal employment.

As investors analyze Cheryl L. Shavers’ recent stock sale, it is beneficial to consider Knowles Corp’s overall financial health and market standing. The company currently has a market capitalization of $1.55 billion and a negative P/E ratio of -8.19, reflecting some investor concerns regarding profitability. However, Knowles has demonstrated a year-over-year revenue growth of 14.27% as of Q2 2024, which indicates an expanding business.

One relevant point is that management has been actively buying back shares, a potential indicator of their confidence in the company’s future and an action that typically supports stock price stability. Analysts also project that the company may achieve profitability this year, which could positively impact market sentiment around the stock.

Furthermore, Knowles Corp’s liquid assets exceed its short-term obligations, providing financial stability and flexibility, which may reassure investors in light of recent insider transactions. For those looking for further analysis, detailed insights into Knowles Corp’s financial metrics and market performance are available for more in-depth evaluations.

This article was generated with the support of AI and reviewed by an editor.