Royce & Associates LP Sells 633,161 Shares of Kimball Electronics, Inc. (NASDAQ:KE)

Royce & Associates LP trimmed its position in Kimball Electronics, Inc. (NASDAQ:KE) by 74.9% during the third quarter, HoldingsChannel.com reports. The fund owned 211,851 shares of the electronics maker’s stock after selling 633,161 shares during the quarter. Royce & Associates LP’s holdings in Kimball Electronics were worth $3,921,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KE. Vanguard Group Inc. lifted its holdings in shares of Kimball Electronics by 45.9% in the first quarter. Vanguard Group Inc. now owns 1,808,516 shares of the electronics maker’s stock worth $39,154,000 after acquiring an additional 569,015 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Kimball Electronics by 80.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 273,636 shares of the electronics maker’s stock worth $6,015,000 after purchasing an additional 122,336 shares in the last quarter. AQR Capital Management LLC lifted its stake in Kimball Electronics by 66.1% in the 2nd quarter. AQR Capital Management LLC now owns 235,844 shares of the electronics maker’s stock valued at $5,184,000 after purchasing an additional 93,831 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in Kimball Electronics by 67.0% in the second quarter. Donald Smith & CO. Inc. now owns 207,604 shares of the electronics maker’s stock valued at $4,563,000 after buying an additional 83,317 shares in the last quarter. Finally, Grace & White Inc. NY grew its stake in shares of Kimball Electronics by 38.5% during the third quarter. Grace & White Inc. NY now owns 256,777 shares of the electronics maker’s stock worth $4,753,000 after buying an additional 71,400 shares during the last quarter. 75.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on KE. Cantor Fitzgerald dropped their price target on Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. EF Hutton Acquisition Co. I lowered Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Lake Street Capital lowered their price objective on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. B. Riley dropped their price objective on shares of Kimball Electronics from $30.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Sidoti lowered shares of Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.25.

Kimball Electronics Price Performance

Kimball Electronics stock opened at $19.17 on Tuesday. The stock’s 50 day moving average is $18.34 and its 200 day moving average is $20.28. Kimball Electronics, Inc. has a one year low of $16.64 and a one year high of $27.73. The firm has a market cap of $473.12 million, a P/E ratio of 37.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.28 and a quick ratio of 1.30.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Monday, November 4th. The electronics maker reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. Kimball Electronics had a net margin of 0.78% and a return on equity of 5.63%. The firm had revenue of $374.26 million for the quarter, compared to the consensus estimate of $376.70 million. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, research analysts expect that Kimball Electronics, Inc. will post 0.96 EPS for the current year.

Kimball Electronics Company Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.