Craig D. Gates Purchases 45,000 Shares of Key Tronic Co. (NASDAQ:KTCC) Stock

Key Tronic Co. (NASDAQ:KTCC) Director Craig D. Gates bought 45,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $2.41 per share, for a total transaction of $108,450.00. Following the completion of the acquisition, the director now directly owns 266,701 shares of the company’s stock, valued at approximately $642,749.41. This represents a 20.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Key Tronic Trading Up 5.8%

Shares of NASDAQ:KTCC opened at $2.75 on Friday. The company has a market cap of $29.60 million, a P/E ratio of -4.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.78 and a quick ratio of 1.71. Key Tronic Co. has a 1 year low of $2.21 and a 1 year high of $6.14. The stock’s fifty day moving average price is $2.49 and its 200-day moving average price is $3.69.

Key Tronic (NASDAQ:KTCC) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $111.97 million for the quarter. Key Tronic had a negative net margin of 1.17% and a negative return on equity of 3.23%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Key Tronic in a report on Thursday. They issued a “strong-buy” rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Key Tronic by 65.9% during the first quarter. Goldman Sachs Group Inc. now owns 23,480 shares of the technology company’s stock valued at $61,000 after purchasing an additional 9,327 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Key Tronic by 59.3% during the fourth quarter. Northern Trust Corp now owns 52,423 shares of the technology company’s stock valued at $219,000 after purchasing an additional 19,513 shares in the last quarter. Kennedy Capital Management LLC increased its position in Key Tronic by 9.3% during the fourth quarter. Kennedy Capital Management LLC now owns 141,625 shares of the technology company’s stock valued at $591,000 after acquiring an additional 12,023 shares during the last quarter. Renaissance Technologies LLC increased its position in Key Tronic by 63.5% during the fourth quarter. Renaissance Technologies LLC now owns 95,300 shares of the technology company’s stock valued at $397,000 after acquiring an additional 37,000 shares during the last quarter. Finally, Tieton Capital Management LLC increased its position in Key Tronic by 23.1% during the fourth quarter. Tieton Capital Management LLC now owns 749,083 shares of the technology company’s stock valued at $3,124,000 after acquiring an additional 140,573 shares during the last quarter. 40.69% of the stock is owned by institutional investors.

About Key Tronic

Key Tronic Corporation provides contract manufacturing services to original equipment manufacturers in the United States and internationally. The company offers integrated electronic and mechanical engineering, assembly, sourcing and procurement, logistics, and new product testing services. Its services include product design; surface mount technologies and pin through hole capability for printed circuit board assembly; tool making; precision plastic molding; sheet metal fabrication and painting; liquid injection molding; complex assembly; prototype design; and full product assembly services.