Zacks Investment Research upgraded shares of Kemet Corporation (NYSE:KEM) from a hold rating to a strong-buy rating in a research note released on Friday. They currently have $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. “
KEM has been the subject of several other reports. ValuEngine raised Kemet Corporation from a hold rating to a buy rating in a research note on Friday, September 1st. TheStreet raised Kemet Corporation from a c+ rating to a b rating in a research note on Wednesday, August 2nd. BidaskClub raised Kemet Corporation from a buy rating to a strong-buy rating in a research note on Tuesday, August 8th. Stifel Nicolaus reissued a hold rating and issued a $12.00 price objective on shares of Kemet Corporation in a research note on Friday, July 14th. Finally, B. Riley reissued a buy rating and issued a $24.25 price objective on shares of Kemet Corporation in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $21.42.
Shares of Kemet Corporation (KEM) opened at 24.87 on Friday. The company has a 50-day moving average of $21.42 and a 200 day moving average of $15.96. Kemet Corporation has a 12 month low of $3.45 and a 12 month high of $25.27. The company has a market cap of $1.19 billion, a PE ratio of 5.16 and a beta of 3.56.
Kemet Corporation (NYSE:KEM) last posted its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 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 $274.00 million during the quarter, compared to the consensus estimate of $282.52 million. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 48.2% compared to the same quarter last year. On average, analysts anticipate that Kemet Corporation will post $1.59 earnings per share for the current year.
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In other Kemet Corporation news, SVP Ronald James Assaf sold 9,334 shares of the firm’s 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 sale, the senior vice president now directly owns 114,225 shares of the company’s stock, valued at approximately $2,025,209.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stefano Vetralla sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $18.70, for a total value of $168,300.00. Following the completion of the sale, the vice president now directly owns 51,611 shares of the company’s stock, valued at $965,125.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,859 shares of company stock valued at $1,598,660. 3.88% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of KEM. Globeflex Capital L P acquired a new stake in shares of Kemet Corporation in the 2nd quarter worth $105,000. JPMorgan Chase & Co. acquired a new stake in shares of Kemet Corporation in the 2nd quarter worth $125,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Kemet Corporation in the 2nd quarter worth $143,000. Legal & General Group Plc acquired a new stake in shares of Kemet Corporation in the 2nd quarter worth $147,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Kemet Corporation in the 2nd quarter worth $177,000. 67.27% of the stock is owned by institutional investors and hedge funds.
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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