Kemet Corporation (KEM) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Kemet Corporation (NYSE:KEM) from a strong-buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “KEMET Corporation and its subsidiaries is the world’s largest manufacturer of solid tantalum capacitors and and one of the world’s largest manufacturer of multilayer ceramic capacitors. According to industry sources, tantalum and ceramic capacitors are the two fastest growing sectors of the United States capacitor industry. Capacitors are electronic components that store, filter and regulate electrical energy and current flow and are one of the essential passive components used on circuit boards. “
KEM has been the subject of a number of other reports. BidaskClub upgraded Kemet Corporation from a buy rating to a strong-buy rating in a research note on Wednesday, July 12th. Stifel Nicolaus reiterated a hold rating and issued a $12.00 price target on shares of Kemet Corporation in a research note on Friday, July 14th. B. Riley reiterated a buy rating and issued a $24.25 price target on shares of Kemet Corporation in a research note on Thursday, August 3rd. TheStreet upgraded Kemet Corporation from a c+ rating to a b rating in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded Kemet Corporation from a hold rating to a buy rating in a research note on Friday, September 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Kemet Corporation presently has a consensus rating of Hold and a consensus target price of $18.08.
Shares of Kemet Corporation (KEM) traded up 3.10% during trading on Wednesday, reaching $23.96. The company’s stock had a trading volume of 2,118,115 shares. Kemet Corporation has a 52-week low of $3.45 and a 52-week high of $24.64. The company has a market cap of $1.14 billion, a PE ratio of 4.97 and a beta of 3.56. The firm’s 50-day moving average is $21.11 and its 200 day moving average is $15.66.
Kemet Corporation (NYSE:KEM) last released its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.15. Kemet Corporation had a return on equity of 20.21% and a net margin of 33.25%. The firm had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $282.52 million. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 48.2% on a year-over-year basis. On average, equities research analysts predict that Kemet Corporation will post $1.57 EPS for the current fiscal year.
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In related news, Director Frank G. Brandenberg sold 11,525 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $23.12, for a total value of $266,458.00. Following the completion of the sale, the director now directly owns 66,831 shares in the company, valued at $1,545,132.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ronald James Assaf sold 9,334 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $17.73, for a total value of $165,491.82. Following the completion of the sale, the senior vice president now owns 114,225 shares of the company’s stock, valued at $2,025,209.25. The disclosure for this sale can be found here. Insiders sold a total of 80,859 shares of company stock valued at $1,598,660 over the last quarter. 3.88% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of KEM. Russell Investments Group Ltd. increased its holdings in Kemet Corporation by 64.8% in the first quarter. Russell Investments Group Ltd. now owns 60,690 shares of the electronics maker’s stock valued at $728,000 after purchasing an additional 23,870 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Kemet Corporation by 217.4% in the first quarter. Parametric Portfolio Associates LLC now owns 52,255 shares of the electronics maker’s stock valued at $627,000 after purchasing an additional 35,789 shares during the period. SG Americas Securities LLC acquired a new stake in Kemet Corporation in the first quarter valued at $314,000. Systematic Financial Management LP acquired a new stake in Kemet Corporation in the first quarter valued at $1,907,000. Finally, Bogle Investment Management L P DE increased its holdings in Kemet Corporation by 1,178.1% in the first quarter. Bogle Investment Management L P DE now owns 421,629 shares of the electronics maker’s stock valued at $5,059,000 after purchasing an additional 388,639 shares during the period. Institutional investors and hedge funds own 67.27% of the company’s stock.
Kemet Corporation Company Profile
KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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