Knowles Corporation (KN) Bundle
A Brief History of Knowles Corporation (KN)
Company Overview
Knowles Corporation, headquartered in Itasca, Illinois, specializes in advanced micro-acoustic microphones and other audio solutions. The company was established in 1946 and has since positioned itself as a leader in the audio semiconductor industry. Knowles operates in two main segments: Microphones and Balanced Armature Speakers.
Financial Performance
As of the end of 2022, Knowles Corporation reported the following financial results:
| Year | Revenue ($ millions) | Net Income ($ millions) | Earnings Per Share (EPS) | Operating Income ($ millions) |
|---|---|---|---|---|
| 2022 | 453.2 | 34.1 | 0.66 | 54.2 |
| 2021 | 509.3 | 51.3 | 0.97 | 80.4 |
| 2020 | 458.5 | 41.2 | 0.77 | 63.7 |
Stock Performance
The stock performance of Knowles Corporation has experienced fluctuations over recent years:
| Year | Stock Price Opening ($) | Stock Price Closing ($) | Market Capitalization ($ millions) | P/E Ratio |
|---|---|---|---|---|
| 2022 | 21.50 | 17.10 | 1,080 | 28.5 |
| 2021 | 17.60 | 21.20 | 1,100 | 21.7 |
| 2020 | 19.00 | 17.50 | 1,000 | 19.5 |
Key Products and Innovations
Knowles is recognized for a range of products, including:
- Micro-acoustic microphones for mobile devices
- Balanced armature speakers for hearing aids
- MEMS microphones for automotive applications
Market Position
In 2023, Knowles held approximately 28% market share in the mobile audio component sector. They have entered partnerships with several leading tech companies to enhance their product offerings.
Recent Developments
In 2023, Knowles Corporation announced plans to invest $100 million in expanding their manufacturing capabilities to meet increasing demand.
Research and Development
Knowles invests significantly in R&D, with spending of $45 million in 2022. This represents approximately 10% of their total revenue.
Global Presence
Knowles operates in over 40 countries, with major markets in North America, Europe, and Asia. The company has manufacturing facilities in the U.S. and Asia.
A Who Owns Knowles Corporation (KN)
Ownership Structure
As of the latest filing, the ownership structure of Knowles Corporation is divided among institutional investors, retail investors, and insiders. The following table provides a detailed breakdown of the ownership percentages:
| Ownership Type | Percentage Owned |
|---|---|
| Institutional Investors | 70.1% |
| Retail Investors | 15.3% |
| Insiders | 14.6% |
Major Institutional Shareholders
The following are some of the major institutional shareholders of Knowles Corporation:
| Institution Name | Percentage of Shares Held | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 15.4% | 8,872,067 |
| The Vanguard Group, Inc. | 10.6% | 6,096,326 |
| Dimensional Fund Advisors LP | 7.2% | 4,135,471 |
| Invesco Ltd. | 5.9% | 3,384,012 |
Top Insiders
The following table highlights the top insiders and their respective holdings within Knowles Corporation:
| Insider Name | Position | Shares Held | Ownership Percentage |
|---|---|---|---|
| Jeffrey N. Schwartz | President and CEO | 1,200,000 | 2.0% |
| David J. Ricks | Executive VP | 600,000 | 1.0% |
| Kristin D. H. St. Clair | Chief Financial Officer | 400,000 | 0.7% |
Recent Stock Performance
As of the end of Q3 2023, the stock performance of Knowles Corporation (KN) is as follows:
| Metric | Value |
|---|---|
| Current Stock Price | $18.50 |
| Market Capitalization | $1.2 billion |
| P/E Ratio | 22.5 |
| Dividend Yield | 1.2% |
Recent Changes in Ownership
In the last fiscal year, several changes occurred in the ownership of Knowles Corporation:
- Increased shareholding by The Vanguard Group by 2%.
- BlackRock, Inc. reduced its holding by 1.5%.
- New institutional investor, Fidelity Investments, acquired 3% of shares.
Conclusion on Ownership Trends
The trends in ownership reflect a growing interest from both institutional and retail investors, indicative of strong market confidence in Knowles Corporation's expansion strategies and financial health.
Knowles Corporation (KN) Mission Statement
Overview
Knowles Corporation (KN) focuses on delivering innovative micro-acoustic microphones and advanced sensor technologies for a variety of applications. The mission statement reflects their commitment to excellence and innovation in sound and sensing solutions.
Core Values
- Innovation: Emphasizing continuous improvement and cutting-edge technology.
- Quality: Ensuring that products meet the highest standards of performance.
- Customer Focus: Striving to satisfy the needs of clients and enhancing user experiences.
- Integrity: Operating with transparency and respect for ethical standards.
- Collaboration: Fostering a team-oriented environment to drive success.
Financial Performance
As of Q3 2023, Knowles Corporation reported revenues of $223 million, representing a year-over-year growth of 12%. The gross margin stood at 41.2%, with a net income of $20 million.
Market Position
Knowles holds approximately 28% of the global market share in the MEMS microphone sector, with a compound annual growth rate (CAGR) of 8% projected over the next five years.
Product Offerings
| Product Category | Key Products | Market Application | Annual Revenue (2022) |
|---|---|---|---|
| Microphones | MEMS Microphones | Smartphones, Wearables | $150 million |
| Sensors | Environmental Sensors | Automotive, Industrial | $50 million |
| Hearing Health | Hearing Aids | Medical Devices | $25 million |
| Other | Custom Solutions | Various Industries | $10 million |
Strategic Goals
- Expand Market Reach: Targeting emerging markets to boost sales and customer base.
- Enhance R&D: Investing 12% of revenue into research and development by 2025.
- Sustainability Initiatives: Reducing carbon footprint by 30% by 2030.
- Product Diversification: Launching three new product lines by the end of 2024.
Recent Acquisitions
In 2023, Knowles acquired a leading sensor technology firm for $40 million, enhancing its sensor capabilities and expanding its product portfolio.
Employee Engagement
Knowles Corporation has approximately 1,200 employees, with a reported employee satisfaction score of 82% in their annual survey.
How Knowles Corporation (KN) Works
Company Overview
Company Overview
Knowles Corporation (KN) is a global leader in advanced micro-acoustic microphones and the development of microelectronics for various applications. The company primarily serves the consumer electronics, industrial, and medical industries.
Business Segments
Knowles operates through two main segments:
- Microphones: This segment includes MEMS microphones and other acoustic technologies.
- Microelectronics: This segment encompasses mixed-signal microcontrollers and application-specific integrated circuits (ASICs).
Financial Performance
As of Q3 2023, Knowles Corporation reported the following financial data:
| Financial Metric | Q3 2023 Amount (in USD) |
|---|---|
| Revenue | $123 million |
| Gross Profit | $56 million |
| Net Income | $12 million |
| Earnings per Share (EPS) | $0.17 |
| Operating Income | $15 million |
| Cash and Cash Equivalents | $45 million |
Market Position
Knowles holds a significant market share in the acoustic microphone sector, accounting for approximately 20% of the global market. The company continues to invest in R&D to maintain its competitive edge.
Research and Development
In 2022, Knowles invested approximately $30 million in R&D, focusing on:
- New microphone technologies
- Integration of AI in acoustic applications
- Expansion into medical device components
Global Presence
Knowles Corporation has a presence in multiple countries, with key manufacturing facilities located in:
- United States
- China
- Philippines
- Malaysia
Customer Base
Knowles serves a diverse customer base, including:
- Smartphone manufacturers
- Consumer electronics companies
- Automotive industries
- Healthcare technology firms
Recent Acquisitions
In early 2023, Knowles acquired a small semiconductor company for $40 million, aimed at enhancing its microelectronics capabilities.
Future Outlook
Analysts project Knowles’ revenue growth to be approximately 10% annually over the next five years, driven by increasing demand for acoustic solutions in emerging technologies.
How Knowles Corporation (KN) Makes Money
Business Segments
Knowles Corporation operates primarily in two segments: microphones and micro-acoustic microphones. Each segment contributes to the company's overall revenue through diverse applications in various industries.
Microphones Segment
The microphones segment focuses on the production of a range of microphones suited for consumer electronics, including smartphones, wearables, and smart home devices. In 2022, this segment generated approximately $228 million in revenue.
Micro-Acoustic Microphones Segment
This segment specializes in small microphone solutions designed for use in compact electronic devices. In 2022, the micro-acoustic microphones segment reported a revenue contribution of about $132 million.
Revenue by Region
| Region | Revenue (2022) | Percentage of Total Revenue |
|---|---|---|
| North America | $156 million | 42% |
| Asia-Pacific | $168 million | 45% |
| Europe | $36 million | 10% |
| Rest of World | $6 million | 3% |
Product Strategies
- Focus on high-performance microphones for mobile devices.
- Investment in research and development to innovate new audio solutions.
- Collaboration with major smartphone manufacturers to integrate advanced microphones.
Market Trends
The global microphone market is projected to grow at a CAGR of 5.8% from 2022 to 2030, driven by increased demand in consumer electronics and automotive applications. Knowles’ strategic positioning allows it to capitalize on these trends effectively.
Financial Performance
For the fiscal year 2022, Knowles Corporation reported total revenues of $360 million, with a gross margin of approximately 35%. The operating income for the same period was around $31 million.
R&D Investment
Knowles invests significantly in research and development, allocating about $32 million in 2022. This investment represents 8.9% of total revenues, emphasizing the company’s commitment to innovation and product development.
Competitive Advantage
Knowles differentiates itself in the market through:
- High-quality audio performance in its products.
- Strong relationships with major customers including Apple, Samsung, and Google.
- Patented technologies that enhance microphone performance and reduce power consumption.
Conclusion
Knowles Corporation leverages its diverse product offerings, geographic reach, and commitment to innovation to generate revenue across multiple sectors in the electronics market.
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