Kemet Corporation’s (KEM) “Buy” Rating Reiterated at B. Riley
B. Riley reaffirmed their buy rating on shares of Kemet Corporation (NYSE:KEM) in a research report released on Tuesday. The firm currently has a $27.50 price objective on the electronics maker’s stock.
“We model $297MM in revenue (in line with guidance of $295MM to $305MM), EBITDA of $47MM, and pro forma EPS of $0.42, compared to a consensus of $299MM, $48MM, and $0.45, respectively. We believe the company is well positioned going into the quarter given the favorable macro environment with expanding global GDP , growing end-market demand, and well-balanced distributor inventory levels. Additionally, we believe ASP declines have remained at the low end of the historical 4%-6% range.”,” the firm’s analyst commented.
Other equities analysts have also recently issued research reports about the company. BidaskClub raised Kemet Corporation from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. ValuEngine cut Kemet Corporation from a buy rating to a hold rating in a research note on Thursday, October 5th. Stifel Nicolaus reissued a hold rating on shares of Kemet Corporation in a research note on Monday, August 7th. Zacks Investment Research cut Kemet Corporation from a strong-buy rating to a hold rating in a research note on Wednesday, July 12th. Finally, TheStreet raised Kemet Corporation from a c+ rating to a b rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $22.50.
Shares of Kemet Corporation (KEM) traded down $7.02 during mid-day trading on Tuesday, hitting $17.80. The company had a trading volume of 1,909,219 shares, compared to its average volume of 2,519,607. The company has a current ratio of 2.51, a quick ratio of 1.69 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $900.98 million, a P/E ratio of 16.47 and a beta of 3.65.
Kemet Corporation (NYSE:KEM) last issued its earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Kemet Corporation had a return on equity of 21.07% and a net margin of 31.16%. The business had revenue of $301.47 million during the quarter, compared to analysts’ expectations of $298.51 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 60.9% compared to the same quarter last year. sell-side analysts anticipate that Kemet Corporation will post 1.52 EPS for the current fiscal year.
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In related news, VP Stefano Vetralla sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $18.70, for a total transaction of $168,300.00. Following the sale, the vice president now owns 51,611 shares in the company, valued at approximately $965,125.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles C. Meeks, Jr. sold 30,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $18.89, for a total value of $566,700.00. Following the sale, the insider now owns 259,781 shares in the company, valued at approximately $4,907,263.09. The disclosure for this sale can be found here. In the last three months, insiders sold 71,525 shares of company stock valued at $1,433,168. Insiders own 3.88% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its holdings in Kemet Corporation by 59.8% in the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock worth $48,500,000 after acquiring an additional 1,418,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kemet Corporation by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock worth $38,503,000 after acquiring an additional 179,841 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Kemet Corporation by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock worth $22,374,000 after acquiring an additional 202,892 shares in the last quarter. Numeric Investors LLC boosted its holdings in Kemet Corporation by 1,622.5% in the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock worth $14,221,000 after acquiring an additional 1,046,539 shares in the last quarter. Finally, State Street Corp boosted its holdings in Kemet Corporation by 1,972.6% in the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock worth $9,606,000 after acquiring an additional 714,335 shares in the last quarter. Institutional investors and hedge funds own 66.52% 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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