Credit Suisse AG reduced its position in Kemet Corporation (NYSE:KEM) by 82.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,995 shares of the electronics maker’s stock after selling 93,175 shares during the period. Credit Suisse AG’s holdings in Kemet Corporation were worth $240,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Kemet Corporation by 16.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,828,191 shares of the electronics maker’s stock valued at $33,938,000 after purchasing an additional 402,142 shares in the last quarter. Renaissance Technologies LLC raised its stake in Kemet Corporation by 40.0% during the first quarter. Renaissance Technologies LLC now owns 2,371,099 shares of the electronics maker’s stock worth $28,453,000 after acquiring an additional 677,098 shares during the period. Vanguard Group Inc. raised its stake in Kemet Corporation by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,545,151 shares of the electronics maker’s stock worth $18,542,000 after acquiring an additional 16,236 shares during the period. Morgan Stanley raised its stake in Kemet Corporation by 117.6% during the first quarter. Morgan Stanley now owns 647,649 shares of the electronics maker’s stock worth $7,771,000 after acquiring an additional 350,056 shares during the period. Finally, Bogle Investment Management L P DE grew its position in Kemet Corporation by 1,178.1% in the 1st quarter. Bogle Investment Management L P DE now owns 421,629 shares of the electronics maker’s stock worth $5,059,000 after purchasing an additional 388,639 shares during the last quarter. 68.87% of the stock is owned by institutional investors.
In other news, Director Frank G. Brandenberg sold 11,525 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $23.12, for a total transaction of $266,458.00. Following the completion of the transaction, the director now owns 66,831 shares of the company’s stock, valued at $1,545,132.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stefano Vetralla sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $18.70, for a total value of $168,300.00. Following the transaction, the vice president now directly owns 51,611 shares of the company’s stock, valued at approximately $965,125.70. The disclosure for this sale can be found here. Insiders have sold a total of 80,859 shares of company stock valued at $1,598,660 in the last ninety days. Insiders own 3.88% of the company’s stock.
Several research analysts have commented on KEM shares. BidaskClub cut shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Stifel Nicolaus restated a “hold” rating on shares of Kemet Corporation in a report on Monday, August 7th. B. Riley restated a “buy” rating and set a $24.25 target price on shares of Kemet Corporation in a report on Tuesday, August 8th. ValuEngine upgraded shares of Kemet Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Friday, July 14th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.08.
Kemet Corporation (NYSE KEM) traded up 0.9625% on Friday, reaching $19.9199. 1,094,088 shares of the company were exchanged. The stock has a 50 day moving average of $20.09 and a 200 day moving average of $14.67. Kemet Corporation has a 12-month low of $3.31 and a 12-month high of $24.64. The firm has a market capitalization of $950.06 million, a PE ratio of 4.1319 and a beta of 3.55.
Kemet Corporation (NYSE:KEM) last posted its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.15. The business 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%. The company’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. Equities analysts anticipate that Kemet Corporation will post $1.57 EPS for the current year.
Kemet Corporation 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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