Kemet Corporation (KEM) Rating Increased to Strong-Buy at Zacks Investment Research
Kemet Corporation (NYSE:KEM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday. The brokerage presently has a $28.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.96% from the company’s previous close.
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. “
Other equities analysts have also recently issued reports about the stock. B. Riley reiterated a “buy” rating and set a $24.25 target price on shares of Kemet Corporation in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. ValuEngine cut shares of Kemet Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating and set a $12.00 target price on shares of Kemet Corporation in a research note on Friday, July 14th. Finally, TheStreet upgraded shares of Kemet Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.42.
Shares of Kemet Corporation (NYSE:KEM) opened at 23.94 on Friday. The stock has a 50 day moving average of $21.29 and a 200 day moving average of $15.80. The company has a market cap of $1.14 billion, a P/E ratio of 4.97 and a beta of 3.56. Kemet Corporation has a 52-week low of $3.45 and a 52-week high of $24.64.
Kemet Corporation (NYSE:KEM) last released its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.15. The firm had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $282.52 million. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. On average, equities analysts anticipate that Kemet Corporation will post $1.59 earnings per share for the current fiscal year.
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In related news, SVP Ronald James Assaf sold 9,334 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $17.73, for a total transaction of $165,491.82. Following the completion of the transaction, the senior vice president now directly owns 114,225 shares in the company, valued at approximately $2,025,209.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank G. Brandenberg sold 11,525 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $23.12, for a total transaction of $266,458.00. Following the transaction, the director now owns 66,831 shares of the company’s stock, valued at $1,545,132.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,859 shares of company stock valued at $1,598,660. Corporate insiders own 3.88% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC raised its stake in shares of Kemet Corporation by 13.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock valued at $317,000 after buying an additional 2,875 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of Kemet Corporation by 5.4% in the 2nd quarter. Engineers Gate Manager LP now owns 89,818 shares of the electronics maker’s stock valued at $1,150,000 after buying an additional 4,567 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of Kemet Corporation in the 2nd quarter valued at $105,000. JPMorgan Chase & Co. acquired a new position in shares of Kemet Corporation in the 2nd quarter valued at $125,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Kemet Corporation in the 2nd quarter valued at $143,000. Institutional investors 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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