Renaissance Technologies LLC Invests $325,000 in Kimball Electronics, Inc. (NASDAQ:KE)

Renaissance Technologies LLC purchased a new position in shares of Kimball Electronics, Inc. (NASDAQ:KE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,800 shares of the electronics maker’s stock, valued at approximately $325,000. Renaissance Technologies LLC owned about 0.06% of Kimball Electronics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Kimball Electronics by 1,526.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,456 shares of the electronics maker’s stock worth $230,000 after purchasing an additional 9,813 shares in the last quarter. EntryPoint Capital LLC increased its position in Kimball Electronics by 96.2% during the 1st quarter. EntryPoint Capital LLC now owns 10,745 shares of the electronics maker’s stock worth $233,000 after purchasing an additional 5,269 shares in the last quarter. Quadrature Capital Ltd increased its position in Kimball Electronics by 40.9% during the 4th quarter. Quadrature Capital Ltd now owns 13,948 shares of the electronics maker’s stock worth $376,000 after purchasing an additional 4,048 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Kimball Electronics in the 1st quarter valued at about $364,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Kimball Electronics in the 1st quarter valued at about $402,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on KE. Lake Street Capital lowered their price target on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. B. Riley reduced their price objective on Kimball Electronics from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Cantor Fitzgerald reduced their price objective on Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Sidoti lowered Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, August 15th. Finally, 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.25.

Kimball Electronics Stock Performance

Shares of KE opened at $17.65 on Friday. The business’s 50 day moving average is $18.31 and its two-hundred day moving average is $20.73. Kimball Electronics, Inc. has a 52-week low of $16.64 and a 52-week high of $27.85. The firm has a market cap of $438.94 million, a price-to-earnings ratio of 13.79 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 2.26 and a debt-to-equity ratio of 0.43.

Kimball Electronics (NASDAQ:KE) last issued its quarterly earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). Kimball Electronics had a net margin of 1.20% and a return on equity of 6.65%. The firm had revenue of $430.16 million during the quarter, compared to the consensus estimate of $429.00 million. During the same quarter last year, the firm posted $0.76 earnings per share. Analysts forecast that Kimball Electronics, Inc. will post 1.17 EPS for the current fiscal year.

Kimball Electronics Profile

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, industrial, and public safety end markets. It provides electronics manufacturing services, including engineering and supply chain support, to customers in the automotive, medical, and industrial end market verticals.