Kemet Corporation (KEM) Stake Lowered by Royce & Associates LP
Royce & Associates LP cut its stake in Kemet Corporation (NYSE:KEM) by 33.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,962,788 shares of the electronics maker’s stock after selling 989,136 shares during the period. Royce & Associates LP owned approximately 4.13% of Kemet Corporation worth $25,124,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of KEM. Renaissance Technologies LLC raised its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $33,938,000 after buying an additional 402,142 shares in the last quarter. Bogle Investment Management L P DE raised 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. Morgan Stanley raised 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 valued at $7,771,000 after buying an additional 350,056 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Kemet Corporation during the second quarter valued at approximately $4,064,000. Hedge funds and other institutional investors own 68.02% of the company’s stock.
Shares of Kemet Corporation (NYSE:KEM) opened at 21.18 on Tuesday. The firm’s 50-day moving average is $17.89 and its 200-day moving average is $13.42. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.39 and a beta of 3.60. Kemet Corporation has a 12-month low of $3.24 and a 12-month high of $21.39.
Kemet Corporation (NYSE:KEM) last announced its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.18 by $0.15. Kemet Corporation had a return on equity of 20.21% and a net margin of 33.25%. The company had revenue of $274 million for the quarter, compared to the consensus estimate of $282.52 million. During the same quarter last year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. Equities research analysts forecast that Kemet Corporation will post $1.57 EPS for the current fiscal year.
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KEM has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Kemet Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus reiterated a “hold” rating and set a $12.00 target price on shares of Kemet Corporation in a report on Friday, July 14th. TheStreet upgraded shares of Kemet Corporation from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Finally, B. Riley reiterated a “buy” rating and set a $13.50 target price on shares of Kemet Corporation in a report on Friday, May 5th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $18.08.
In other Kemet Corporation news, VP Stefano Vetralla sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $18.70, for a total transaction of $168,300.00. Following the transaction, the vice president now owns 51,611 shares in the company, valued at $965,125.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ronald James Assaf sold 9,334 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 114,225 shares in the company, valued at approximately $2,025,209.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,334 shares of company stock worth $1,309,892. Corporate insiders own 3.88% 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.
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