Kemet Corporation (NYSE:KEM) Receives “Hold” Rating from Stifel Nicolaus

Kemet Corporation (NYSE:KEM)‘s stock had its “hold” rating reiterated by investment analysts at Stifel Nicolaus in a research note issued to investors on Friday, July 14th. They currently have a $12.00 price target on the electronics maker’s stock. Stifel Nicolaus’ price target suggests a potential downside of 31.62% from the stock’s previous close.

Several other brokerages have also recently weighed in on KEM. B. Riley restated a “buy” rating and issued a $13.50 price objective on shares of Kemet Corporation in a report on Wednesday, May 10th. Zacks Investment Research upgraded Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Friday, July 14th. Finally, BidaskClub upgraded Kemet Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.08.

Shares of Kemet Corporation (NYSE KEM) opened at 17.55 on Friday. The firm has a market cap of $835.17 million, a PE ratio of 3.63 and a beta of 3.60. Kemet Corporation has a 12 month low of $3.24 and a 12 month high of $17.94. The firm has a 50 day moving average price of $14.79 and a 200-day moving average price of $11.93.

Kemet Corporation (NYSE:KEM) last announced its quarterly earnings data 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. The company had revenue of $274 million during the quarter, compared to analysts’ expectations of $282.52 million. Kemet Corporation had a return on equity of 32.96% and a net margin of 33.25%. Kemet Corporation’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, analysts predict that Kemet Corporation will post $1.57 EPS for the current fiscal year.

In other Kemet Corporation news, CFO William M. Lowe, Jr. sold 68,422 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were 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 directly owns 616,035 shares in the company, valued at $8,846,262.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Per Olof Loof sold 133,334 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $13.13, for a total transaction 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 $14,468,944.88. The disclosure for this sale can be found here. Insiders have sold 326,256 shares of company stock valued at $4,516,065 in the last quarter. 3.88% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the company. Federated Investors Inc. PA increased its stake in shares of Kemet Corporation by 4,509.4% in the second quarter. Federated Investors Inc. PA now owns 33,925 shares of the electronics maker’s stock valued at $434,000 after buying an additional 33,189 shares during the period. Legal & General Group Plc bought a new stake in shares of Kemet Corporation during the second quarter valued at about $147,000. Bank of New York Mellon Corp increased its stake in shares of Kemet Corporation by 373.2% in the second quarter. Bank of New York Mellon Corp now owns 161,049 shares of the electronics maker’s stock valued at $2,061,000 after buying an additional 127,012 shares during the period. ClariVest Asset Management LLC increased its stake in shares of Kemet Corporation by 51.6% in the second quarter. ClariVest Asset Management LLC now owns 252,016 shares of the electronics maker’s stock valued at $3,226,000 after buying an additional 85,790 shares during the period. Finally, Rhumbline Advisers bought a new stake in shares of Kemet Corporation during the second quarter valued at about $634,000. Hedge funds and other institutional investors own 57.65% 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.