Kemet Corporation (NYSE:KEM) Lowered to Buy at BidaskClub
BidaskClub cut shares of Kemet Corporation (NYSE:KEM) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.
KEM has been the subject of a number of other research reports. Zacks Investment Research upgraded Kemet Corporation from a hold rating to a strong-buy rating and set a $18.00 price objective for the company in a research report on Friday, July 14th. Stifel Nicolaus reiterated a hold rating and set a $12.00 price objective on shares of Kemet Corporation in a research report on Friday, July 14th. Finally, B. Riley reiterated a buy rating and set a $17.00 price objective on shares of Kemet Corporation in a research report on Monday, May 15th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $16.67.
Shares of Kemet Corporation (NYSE KEM) traded down 0.06% on Tuesday, hitting $16.52. 606,429 shares of the stock traded hands. The firm’s 50 day moving average is $14.58 and its 200-day moving average is $11.71. The company has a market cap of $784.78 million, a PE ratio of 18.99 and a beta of 3.54. Kemet Corporation has a 12 month low of $3.24 and a 12 month high of $17.89.
Kemet Corporation (NYSE:KEM) last announced its quarterly earnings results on Wednesday, May 10th. The electronics maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Kemet Corporation had a return on equity of 19.23% and a net margin of 6.33%. The business had revenue of $197.52 million during the quarter, compared to analysts’ expectations of $191.73 million. During the same quarter last year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts predict that Kemet Corporation will post $0.97 earnings per share for the current year.
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In related news, CFO William M. Lowe, Jr. sold 68,422 shares of Kemet Corporation stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $14.36, for a total transaction of $982,539.92. Following the completion of the sale, the chief financial officer now owns 616,035 shares in the company, valued at approximately $8,846,262.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Per Olof Loof sold 133,334 shares of Kemet Corporation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $13.13, for a total value of $1,750,675.42. Following the sale, the chief executive officer now owns 1,101,976 shares of the company’s stock, valued at approximately $14,468,944.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 326,256 shares of company stock valued at $4,516,065. 3.88% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Founders Capital Management bought a new stake in Kemet Corporation during the first quarter worth approximately $108,000. TFS Capital LLC bought a new stake in Kemet Corporation during the first quarter worth approximately $184,000. Russell Investments Group Ltd. bought a new stake in Kemet Corporation during the fourth quarter worth approximately $247,000. Caxton Associates LP bought a new stake in Kemet Corporation during the first quarter worth approximately $263,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Kemet Corporation during the first quarter worth about $314,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.
About Kemet Corporation
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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