Kemet Corporation (KEM) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Kemet Corporation (NYSE:KEM) from a buy rating to a hold rating in a research note published on Thursday morning.
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. “
Several other equities analysts have also issued reports on the company. TheStreet lowered Kemet Corporation from a b rating to a c rating in a report on Thursday, November 2nd. B. Riley reaffirmed a buy rating and set a $27.50 price objective on shares of Kemet Corporation in a report on Tuesday, October 31st. ValuEngine downgraded shares of Kemet Corporation from a buy rating to a hold rating in a research note on Thursday, October 5th. BidaskClub downgraded shares of Kemet Corporation from a strong-buy rating to a buy rating in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus reiterated a hold rating on shares of Kemet Corporation in a research note on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $22.50.
Shares of Kemet Corporation (KEM) traded down $0.84 during mid-day trading on Thursday, hitting $15.44. The company’s stock had a trading volume of 2,702,900 shares, compared to its average volume of 3,280,894. The stock has a market capitalization of $870.54, a price-to-earnings ratio of 15.92 and a beta of 3.65. Kemet Corporation has a 12 month low of $3.96 and a 12 month high of $27.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.73 and a current ratio of 2.51.
Kemet Corporation (NYSE:KEM) last issued its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $301.47 million for the quarter, compared to analyst estimates of $298.51 million. Kemet Corporation had a return on equity of 21.07% and a net margin of 31.16%. The business’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. research analysts forecast that Kemet Corporation will post 1.44 EPS for the current fiscal year.
In other news, Director Frank G. Brandenberg sold 11,525 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $23.12, for a total transaction of $266,458.00. Following the completion of the sale, the director now owns 66,831 shares in the company, valued at $1,545,132.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wilfried Backes sold 20,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the sale, 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. Insiders have sold 54,428 shares of company stock valued at $1,050,368 in the last quarter. Insiders own 3.88% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in KEM. Renaissance Technologies LLC lifted its position in Kemet Corporation by 59.8% in the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock valued at $48,500,000 after purchasing an additional 1,418,000 shares during the period. Dimensional Fund Advisors LP lifted its position in Kemet Corporation by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock valued at $38,503,000 after purchasing an additional 179,841 shares during the period. Vanguard Group Inc. lifted its position in Kemet Corporation by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock valued at $22,374,000 after purchasing an additional 202,892 shares during the period. Numeric Investors LLC lifted its position in Kemet Corporation by 1,622.5% in the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock valued at $14,221,000 after purchasing an additional 1,046,539 shares during the period. Finally, State Street Corp lifted its position in Kemet Corporation by 1,972.6% in the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock valued at $9,606,000 after purchasing an additional 714,335 shares during the period. Institutional investors and hedge funds own 67.05% 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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