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Knowles (KN) Stock Closes Higher After Stephens Upgrade

NEW YORK (TheStreet) -- Shares of Knowles (KN - Get Report) gained 2.9% to close at $20.21 on Monday after analyst firm Stephens upgraded the micro-acoustics components company.

Stephens upgraded Knowles to "overweight" from "equal weight" in a note to investors, according to The Fly. The analyst firm also raised its price target for the company to $25 from $21.

Analyst Harsh Kumar said he believes Knowles business is "back on track" as the company regained share at Apple (AAPL). A recent teardown from Chipworks showed the new iPhones use four Knowles microphones, up from the three microphones found in previous models.

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Last week, FBR Capital upgraded Knowles to "market perform" from "underperform" following the Chipworks teardown.

About 3.8 million shares of Knowles were traded in regular trading hours Monday, above the company's average trading volume of about 1.6 million shares a day.

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