Geode Capital Management LLC raised its stake in Kemet Corporation (NYSE:KEM) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 270,484 shares of the electronics maker’s stock after buying an additional 11,748 shares during the period. Geode Capital Management LLC owned 0.58% of Kemet Corporation worth $3,245,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of KEM. Dialectic Capital Management LP acquired a new position in shares of Kemet Corporation during the first quarter valued at $501,000. Systematic Financial Management LP acquired a new position in shares of Kemet Corporation during the first quarter valued at $1,907,000. Founders Capital Management acquired a new position in shares of Kemet Corporation during the first quarter valued at $108,000. TFS Capital LLC acquired a new position in shares of Kemet Corporation during the first quarter valued at $184,000. Finally, Bogle Investment Management L P DE boosted 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 valued at $5,059,000 after buying an additional 388,639 shares in the last quarter. Institutional investors and hedge funds own 55.72% of the company’s stock.
Kemet Corporation (NYSE:KEM) traded down 4.84% on Monday, hitting $19.28. 655,546 shares of the company were exchanged. The company has a market capitalization of $919.54 million, a P/E ratio of 4.00 and a beta of 3.60. Kemet Corporation has a 52 week low of $3.24 and a 52 week high of $21.39. The firm’s 50 day moving average is $17.00 and its 200 day moving average is $12.96.
Kemet Corporation (NYSE:KEM) last released its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.15. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The firm had revenue of $274 million during the quarter, compared to analysts’ expectations of $282.52 million. During the same period last year, the business earned $0.06 earnings per share. Kemet Corporation’s revenue was up 48.2% compared to the same quarter last year. On average, equities research analysts forecast that Kemet Corporation will post $1.57 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on KEM shares. Zacks Investment Research upgraded shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Friday, July 14th. TheStreet upgraded shares of Kemet Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus lifted their price target on shares of Kemet Corporation from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Finally, B. Riley reiterated a “buy” rating and set a $24.25 price target on shares of Kemet Corporation in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.08.
In other Kemet Corporation news, insider Charles C. Meeks, Jr. sold 30,000 shares of Kemet Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $18.89, for a total transaction of $566,700.00. Following the completion of the sale, the insider now directly owns 259,781 shares in the company, valued at $4,907,263.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ronald James Assaf sold 9,334 shares of Kemet Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $17.73, for a total transaction of $165,491.82. Following the sale, the senior vice president now owns 114,225 shares of the company’s stock, valued at $2,025,209.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,334 shares of company stock valued at $1,309,892. 3.88% of the stock is owned by company insiders.
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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