Kemet Corporation (NYSE:KEM) Receives “Hold” Rating from Stifel Nicolaus
Several other research firms also recently weighed in on KEM. Zacks Investment Research raised 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 raised shares of Kemet Corporation from a c+ rating to a b rating in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Kemet Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Finally, B. Riley restated a buy rating and issued a $24.25 price objective on shares of Kemet Corporation in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Kemet Corporation has an average rating of Buy and an average target price of $18.08.
Shares of Kemet Corporation (NYSE KEM) opened at 19.26 on Monday. The company has a market cap of $916.54 million, a P/E ratio of 3.98 and a beta of 3.60. The stock’s 50 day moving average is $15.55 and its 200-day moving average is $12.34. Kemet Corporation has a 12 month low of $3.24 and a 12 month high of $19.79.
Kemet Corporation (NYSE:KEM) last released its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 EPS for the quarter, beating 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 32.96%. The company had revenue of $274 million for the quarter, compared to analyst estimates of $282.52 million. During the same quarter last year, the business earned $0.06 earnings per share. The firm’s revenue was up 48.2% on a year-over-year basis. On average, equities analysts forecast that Kemet Corporation will post $1.57 EPS for the current year.
In related news, SVP Ronald James Assaf sold 9,334 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $17.73, for a total value of $165,491.82. Following the completion of the sale, the senior vice president now owns 114,225 shares in the company, valued at approximately $2,025,209.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Claudio Lollini sold 9,500 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $14.20, for a total transaction of $134,900.00. Following the completion of the sale, the vice president now owns 184,168 shares of the company’s stock, valued at approximately $2,615,185.60. The disclosure for this sale can be found here. Insiders have sold a total of 365,590 shares of company stock valued at $5,248,257 in the last 90 days. Insiders own 3.88% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KEM. Dimensional Fund Advisors LP increased its stake in 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 valued at $33,938,000 after buying an additional 402,142 shares during the period. Renaissance Technologies LLC increased its stake in Kemet Corporation by 40.0% in the first quarter. Renaissance Technologies LLC now owns 2,371,099 shares of the electronics maker’s stock valued at $28,453,000 after buying an additional 677,098 shares during the period. Vanguard Group Inc. increased its stake in Kemet Corporation by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,545,151 shares of the electronics maker’s stock valued at $18,542,000 after buying an additional 16,236 shares during the period. Morgan Stanley increased its stake in Kemet Corporation by 117.6% in the first quarter. Morgan Stanley now owns 647,649 shares of the electronics maker’s stock valued at $7,771,000 after buying an additional 350,056 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in Kemet Corporation during the first quarter valued at approximately $5,894,000. Hedge funds and other institutional investors own 56.85% 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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