Kemet Corporation (KEM) Shares Gap Down to $21.89
Kemet Corporation (NYSE:KEM) gapped down prior to trading on Friday . The stock had previously closed at $22.19, but opened at $21.89. Kemet Corporation shares last traded at $20.34, with a volume of 1,850,073 shares traded.
Several equities research analysts have weighed in on KEM shares. B. Riley reaffirmed a “buy” rating and issued a $17.00 target price on shares of Kemet Corporation in a research report on Monday, May 15th. Zacks Investment Research lowered Kemet Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub raised Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $12.00 target price on shares of Kemet Corporation in a research report on Friday, July 14th. Finally, TheStreet raised Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $18.08.
The firm has a market capitalization of $974.87 million, a P/E ratio of 4.24 and a beta of 3.55. The stock has a 50-day moving average of $19.59 and a 200-day moving average of $14.32.
Kemet Corporation (NYSE:KEM) last issued its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $274 million during the quarter, compared to the consensus estimate of $282.52 million. During the same quarter in the previous year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. Equities analysts expect that Kemet Corporation will post $1.57 EPS for the current year.
In other Kemet Corporation news, SVP Ronald James Assaf sold 9,334 shares of Kemet Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $17.73, for a total value of $165,491.82. Following the completion of the transaction, the senior vice president now owns 114,225 shares in the company, valued at approximately $2,025,209.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wilfried Backes sold 20,000 shares of Kemet Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the transaction, the director now owns 87,934 shares of the company’s stock, valued at approximately $1,800,008.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,859 shares of company stock valued at $1,576,350. Corporate insiders own 3.88% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of KEM. Globeflex Capital L P bought a new position in Kemet Corporation in the 2nd quarter valued at $105,000. Founders Capital Management bought a new position in Kemet Corporation in the 1st quarter valued at $108,000. JPMorgan Chase & Co. bought a new position in Kemet Corporation in the 2nd quarter valued at $125,000. UBS Asset Management Americas Inc. bought a new position in Kemet Corporation in the 2nd quarter valued at $143,000. Finally, Legal & General Group Plc bought a new position in Kemet Corporation in the 2nd quarter valued at $147,000. Hedge funds and other institutional investors own 68.87% 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.