Kemet Corporation (KEM) Lifted to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Kemet Corporation (NYSE:KEM) from a hold rating to a strong-buy rating in a research note issued to investors on Friday. Zacks Investment Research currently has $28.00 price target on the electronics maker’s stock.
According to Zacks, “KEMET Corporation and its subsidiaries is the world’s largest manufacturer of solid tantalum capacitors and and one of the world’s largest manufacturer of multilayer ceramic capacitors. According to industry sources, tantalum and ceramic capacitors are the two fastest growing sectors of the United States capacitor industry. Capacitors are electronic components that store, filter and regulate electrical energy and current flow and are one of the essential passive components used on circuit boards. “
A number of other analysts have also issued reports on KEM. B. Riley reiterated a buy rating and issued a $24.25 price target on shares of Kemet Corporation in a report on Thursday, August 3rd. BidaskClub upgraded Kemet Corporation from a buy rating to a strong-buy rating in a report on Tuesday, August 8th. ValuEngine lowered Kemet Corporation from a buy rating to a hold rating in a report on Thursday. Stifel Nicolaus reiterated a hold rating on shares of Kemet Corporation in a report on Monday, August 7th. Finally, TheStreet upgraded Kemet Corporation from a c+ rating to a b rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $21.42.
Kemet Corporation (NYSE:KEM) opened at 23.94 on Friday. The stock has a market cap of $1.14 billion, a PE ratio of 4.97 and a beta of 3.56. The stock has a 50 day moving average price of $21.29 and a 200-day moving average price of $15.80. Kemet Corporation has a 1-year low of $3.45 and a 1-year high of $24.64.
Kemet Corporation (NYSE:KEM) last announced its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The firm had revenue of $274.00 million during the quarter, compared to analyst estimates of $282.52 million. Kemet Corporation had a return on equity of 20.21% and a net margin of 33.25%. Kemet Corporation’s quarterly revenue was up 48.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, equities analysts expect that Kemet Corporation will post $1.59 EPS for the current year.
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In other Kemet Corporation news, VP Stefano Vetralla sold 9,000 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 51,611 shares in the company, valued at $965,125.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frank G. Brandenberg sold 11,525 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $23.12, for a total value of $266,458.00. Following the sale, the director now owns 66,831 shares of the company’s stock, valued at approximately $1,545,132.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,859 shares of company stock valued at $1,598,660. 3.88% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new stake in Kemet Corporation during the second quarter worth $1,037,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Kemet Corporation during the second quarter worth $177,000. The Manufacturers Life Insurance Company lifted its holdings in Kemet Corporation by 14,204.1% during the second quarter. The Manufacturers Life Insurance Company now owns 34,759 shares of the electronics maker’s stock worth $445,000 after buying an additional 34,516 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Kemet Corporation by 13.1% during the second quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock worth $317,000 after buying an additional 2,875 shares during the period. Finally, State Street Corp lifted its holdings in Kemet Corporation by 1,972.6% during the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock worth $9,606,000 after buying an additional 714,335 shares during the period. Institutional investors own 67.27% 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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