Kemet Corporation (NYSE:KEM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday, July 14th. The firm presently has a $18.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 2.56% from the stock’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. “
Several other equities analysts also recently commented on the company. BidaskClub raised Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. B. Riley reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Kemet Corporation in a research report on Monday, May 15th. Finally, Stifel Nicolaus increased their price target on Kemet Corporation from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Tuesday, May 2nd. One analyst has 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 currently has a consensus rating of “Buy” and a consensus price target of $18.08.
Kemet Corporation (NYSE:KEM) opened at 17.55 on Friday. The company has a 50-day moving average of $14.79 and a 200-day moving average of $11.93. The company has a market cap of $835.17 million, a P/E ratio of 3.63 and a beta of 3.60. Kemet Corporation has a 52-week low of $3.24 and a 52-week high of $17.94.
Kemet Corporation (NYSE:KEM) last released its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.15. Kemet Corporation had a return on equity of 32.96% and a net margin of 33.25%. The company had revenue of $274 million for the quarter, compared to analyst estimates of $282.52 million. During the same quarter in the prior year, the firm posted $0.06 EPS. Kemet Corporation’s quarterly revenue was up 48.2% compared to the same quarter last year. On average, equities research analysts expect that Kemet Corporation will post $1.57 earnings per share for the current fiscal year.
In other Kemet Corporation news, VP Claudio Lollini sold 9,500 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $14.20, for a total value of $134,900.00. Following the completion of the sale, the vice president now directly owns 184,168 shares in the company, valued at $2,615,185.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charles C. Meeks, Jr. sold 115,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $14.33, for a total value of $1,647,950.00. Following the completion of the sale, the insider now owns 372,393 shares of the company’s stock, valued at $5,336,391.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,256 shares of company stock worth $4,516,065. 3.88% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of KEM. Renaissance Technologies LLC raised its stake in shares of Kemet Corporation by 416.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,694,001 shares of the electronics maker’s stock worth $11,231,000 after buying an additional 1,366,002 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Kemet Corporation during the first quarter worth about $5,894,000. Dimensional Fund Advisors LP raised its stake in shares of Kemet Corporation by 16.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,828,191 shares of the electronics maker’s stock worth $33,938,000 after buying an additional 402,142 shares in the last quarter. Bogle Investment Management L P DE increased its position in shares of 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 worth $5,059,000 after buying an additional 388,639 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Kemet Corporation by 117.6% in the first quarter. Morgan Stanley now owns 647,649 shares of the electronics maker’s stock worth $7,771,000 after buying an additional 350,056 shares during the last quarter. 57.65% of the stock is currently owned by hedge funds and other institutional investors.
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.
Get a free copy of the Zacks research report on Kemet Corporation (KEM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kemet Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kemet Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
