|Over a week ago|
Knowles upgraded to Buy following 'solid' guidance at Lake Street » 08:5207/3007/30/20
As previously reported,…
As previously reported, Lake Street analyst Jaeson Schmidt upgraded Knowles to Buy from Hold with an unchanged price target of $17, as he believes Q2 represents the bottom and the stock can work higher from here after the company issued "solid" Q3 guidance and indicated expectations for quarter-over-quarter growth in Q4. He believes the company's guidance commentary should give confidence in overall visibility into the second half and its ability to navigate the challenging backdrop, Schmidt added.
Knowles upgraded to Buy from Hold at Lake Street » 08:4707/3007/30/20
Lake Street analyst…
Lake Street analyst Jaeson Schmidt upgraded Knowles to Buy from Hold with an unchanged price target of $17.
Knowles sees Q3 adjusted EPS 17c-23c, consensus 19c » 16:0707/2907/29/20
Sees Q3 revenue…
Sees Q3 revenue $185M-$200M, consensus $187.7M.
Knowles reports Q2 adjusted EPS (1c), consensus 1c » 16:0607/2907/29/20
Reports Q2 revenue…
Reports Q2 revenue $152.2M, consensus $146.61M. "We delivered better than expected sales of MEMS microphones and Precision Devices during the quarter. In Hearing Health, revenue was down close to 50 percent from normal demand due to COVID-19 with sales increasing each month as we moved through Q2," said Jeffrey Niew, president and CEO of Knowles. "I'm pleased with the efforts of our employees around the globe as they worked diligently through this difficult period and allowed us to deliver positive operating cash flow in Q2. As we look to Q3, I anticipate strong sequential growth in revenue and earnings driven by Hearing Health and MEMS microphones. Knowles remains uniquely positioned across the markets we serve and I believe our strategy to deliver high value, differentiated solutions to a diverse set of growing end markets will enable us to come out of this pandemic well positioned to take advantage of future growth," continued Niew.
|Over a quarter ago|
Knowles to be range-bound until investors gain confidence, says Lake Street » 09:0605/0505/05/20
Lake Street analyst…
Lake Street analyst Jaeson Schmidt said Knowles, which is seeing significant headwinds in its hearing health business, is "certainly not the only one seeing headwinds from the macro environment." However, more than 2020 being a down year for revenue he is concerned with the severe earnings decline due to its manufacturing footprint, the analyst tells investors. Schmidt believes shares will be range-bound until investors gain confidence in a meaningful snapback in growth next year and keeps a Hold rating on Knowles with a $17 price target.
Fly Intel: After-Hours Movers » 07:0005/0505/05/20
CHGG, GNMK, VRNS, CEMI, LMNX, NSP, RMBS, TREX, MOS, CORT, MTSC, VNOM, XPO, THC, LEG, FANG, SHAK, AVID, QSR, WH, FN, UNM, FIVN, ITRI, TACO, TXRH, FRPT, PE, KN, WMB, HTZ, LB
Check out this evening's…
Knowles reports Q1 EPS 3c, consensus 2c » 16:1805/0405/04/20
Reports Q1 revenue…
Reports Q1 revenue $163.1M, consensus $162.42M. "We reported first quarter revenues and earnings that were in line with our updated guidance," said Jeffrey Niew, president and CEO of Knowles. "Audio sales were lower than the year ago period partially offset by higher Precision Devices sales. While Q1 Audio demand was weaker than our original projections due to COVID-19, much of the weakness hit later in the quarter. We are anticipating sequentially lower Audio sales driven by significantly weaker hearing health demand in Q2. We also experienced disruptions within Knowles' manufacturing operations across Asia, which negatively impacted plant productivity within our Audio segment during the first quarter. We have made progress in returning our China facilities to more normalized operations but expect lower labor productivity and factory utilization in Malaysia and the Philippines to continue in the second quarter as we manage government-enacted workforce restrictions associated with the pandemic and align output with demand."
Knowles price target lowered to $20 from $23 at Roth Capital » 12:4104/1304/13/20
Roth Capital analyst Suji…
Roth Capital analyst Suji Desilva lowered the firm's price target on Knowles to $20 from $23 and keeps a Buy rating on the shares. Desilva said he believes Knowles represents a differentiated investment opportunity in audio sensor and voice processing products. The analyst noted, however, that preliminary Q1 results came in at the low-end of the company's previous guidance, with the bulk of the impact related to China microphone production halts mid-quarter, which have since resumed production.
Knowles reports preliminary Q1 EPS 0c-4c, consensus 9c » 09:0904/1304/13/20
Reports preliminary Q1…
Reports preliminary Q1 revenue $163M, consensus $168.61M. "In the first quarter of 2020, COVID-19 caused significant disruptions within Knowles' manufacturing operations across Asia which negatively impacted plant productivity within our Audio segment," said Jeffrey Niew, president and CEO of Knowles. "We have made progress in returning our China facilities to more normalized operations but saw lower-than-planned labor productivity and factory utilization in Malaysia and the Philippines throughout the first quarter."
Apple supply disruptions may lead to staggered iPhone release, says Craig-Hallum » 08:3404/0704/07/20
SWKS, AAPL, STM, QRVO, KN, ON
After discussions with…
After discussions with the Apple (AAPL) supply chain, Craig-Hallum analyst Anthony Stoss estimates at best Apple will likely manufacture 40M "new" iPhone units versus their usual 80M this year due to coronavirus impacts. With concerns over demand and multiple recent reports suggesting Apple is seeing supply chain issues, the analyst thinks it is likely they will only plan to manufacture half of their usual builds for the second half of this year. He highlights China is reportedly slowly getting back online and ramping up manufacturing, but new coronavirus cases could slow this ramp if China has to shutdown certain areas of the country once again. Stoss believes nearly every one of Apple suppliers' facilities have been deemed "essential" and remain operating, but most at significantly reduced levels. He has recently cut his numbers for STMicroelectronics (STM), Skyworks (SWKS), Qorvo (QRVO), Knowles (KN) and ON Semiconductor (ON) to account for his lowered view on Apple units.