Core Insights - Harvey Partners has established a new position in Knowles Corporation, acquiring 622,500 shares valued at approximately $14.5 million, representing 1.3% of the fund's reportable U.S. equity assets as of September 30 [2][10] - Knowles Corporation's stock has increased by 20% over the past year, outperforming the S&P 500, which rose by 13% during the same period [3][10] Company Overview - Knowles Corporation is a leading provider of advanced micro-acoustic, audio, and precision device solutions, serving high-growth markets such as mobile communications, hearing health, and industrial electronics [6] - The company's market capitalization is approximately $2 billion, with a revenue of $573.5 million and a net income of $35.8 million for the trailing twelve months [4] Recent Performance - In the third quarter, Knowles reported a revenue growth of 7% year-over-year, reaching $152.9 million, with a gross margin of 45.7% and non-GAAP EPS of $0.33, exceeding guidance expectations [11] - The company anticipates 6% organic revenue growth for the year, with fourth-quarter revenue projected to increase by another 9% year-over-year [11] Investment Rationale - The new position by Harvey Partners indicates confidence in Knowles' diversified exposure to various end-markets, which may support steadier earnings despite potential softness in consumer hardware cycles [7] - Knowles generates revenue by designing, manufacturing, and selling audio and precision device components to original equipment manufacturers and distributors across multiple sectors, including consumer electronics, medtech, and industrial markets [9]