Kyocera Corporation (KYO) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Kyocera Corporation (NYSE:KYO) from a buy rating to a hold rating in a report issued on Wednesday. Zacks Investment Research currently has $70.00 price objective on the electronics maker’s stock.
According to Zacks, “Kyocera Corporation was founded in 1959 as a company specializing in the production of fine ceramic components, Kyocera has expanded its business by effectively developing and applying its ceramics technologies. The company has grown to be a world-leading manufacturer of ceramics, including custom parts and consumer products. Kyocera’s materials, components, and finished products are used in virtually all fields of industry. In addition to ceramics, products also include information, tele-communications, and Optical equipment. “
A number of other analysts have also issued reports on KYO. BidaskClub raised Kyocera Corporation from a strong sell rating to a sell rating in a research note on Tuesday, August 1st. Mizuho raised Kyocera Corporation from a neutral rating to a buy rating in a research note on Tuesday, June 13th.
Kyocera Corporation (NYSE:KYO) last issued its quarterly earnings results on Friday, July 28th. The electronics maker reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.25. Kyocera Corporation had a return on equity of 4.96% and a net margin of 8.34%. The firm had revenue of $3.11 billion for the quarter.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in KYO. Parametric Portfolio Associates LLC lifted its stake in shares of Kyocera Corporation by 26.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 279,445 shares of the electronics maker’s stock valued at $15,685,000 after purchasing an additional 58,196 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Kyocera Corporation by 28.7% in the 2nd quarter. Aperio Group LLC now owns 182,091 shares of the electronics maker’s stock valued at $10,610,000 after purchasing an additional 40,565 shares in the last quarter. Morgan Stanley lifted its stake in shares of Kyocera Corporation by 345.0% in the 1st quarter. Morgan Stanley now owns 42,306 shares of the electronics maker’s stock valued at $2,375,000 after purchasing an additional 32,800 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Kyocera Corporation by 2,254.3% in the 2nd quarter. Wells Fargo & Company MN now owns 23,684 shares of the electronics maker’s stock valued at $1,381,000 after purchasing an additional 22,678 shares in the last quarter. Finally, UBS Group AG lifted its stake in shares of Kyocera Corporation by 341.8% in the 1st quarter. UBS Group AG now owns 24,653 shares of the electronics maker’s stock valued at $1,384,000 after purchasing an additional 19,073 shares in the last quarter. 0.54% of the stock is currently owned by institutional investors and hedge funds.
Kyocera Corporation Company Profile
Kyocera Corporation is engaged in various fields, from fine ceramic components to electronic devices, equipment, services and networks. The Company operates through seven segments: Fine Ceramic Parts Group, Semiconductor Parts Group, Applied Ceramic Products Group, Electronic Device Group, Telecommunications Equipment Group, Information Equipment Group and Others.
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