Kyocera Corporation (NYSE:KYO) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Kyocera Corporation (NYSE:KYO) from a strong-buy rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Kyocera Corporation was founded in 1959 as a company specializing in the production of fine ceramic components, Kyocera has expanded its business by effectively developing and applying its ceramics technologies. The company has grown to be a world-leading manufacturer of ceramics, including custom parts and consumer products. Kyocera’s materials, components, and finished products are used in virtually all fields of industry. In addition to ceramics, products also include information, tele-communications, and Optical equipment. “

Other equities research analysts also recently issued research reports about the company. BidaskClub raised Kyocera Corporation from a strong sell rating to a sell rating in a research report on Tuesday, August 1st. Mizuho raised Kyocera Corporation from a neutral rating to a buy rating in a research report on Tuesday, June 13th.

Kyocera Corporation (NYSE:KYO) opened at 59.77 on Wednesday. The firm has a 50-day moving average price of $58.52 and a 200 day moving average price of $56.95. The company has a market capitalization of $21.98 billion, a P/E ratio of 20.00 and a beta of 0.54. Kyocera Corporation has a 12 month low of $46.37 and a 12 month high of $61.50.

Kyocera Corporation (NYSE:KYO) last issued its quarterly earnings results on Friday, July 28th. The electronics maker reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.25. The business had revenue of $3.11 billion for the quarter. Kyocera Corporation had a return on equity of 4.96% and a net margin of 8.34%. Analysts expect that Kyocera Corporation will post $2.18 EPS for the current year.

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A number of large investors have recently modified their holdings of KYO. Parallel Advisors LLC increased its stake in shares of Kyocera Corporation by 5.4% in the second quarter. Parallel Advisors LLC now owns 1,637 shares of the electronics maker’s stock worth $100,000 after buying an additional 84 shares in the last quarter. World Asset Management Inc increased its stake in shares of Kyocera Corporation by 1.3% in the first quarter. World Asset Management Inc now owns 23,526 shares of the electronics maker’s stock worth $1,321,000 after buying an additional 294 shares in the last quarter. Comerica Bank increased its stake in shares of Kyocera Corporation by 1.4% in the first quarter. Comerica Bank now owns 22,280 shares of the electronics maker’s stock worth $1,267,000 after buying an additional 297 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Kyocera Corporation by 29.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,613 shares of the electronics maker’s stock worth $152,000 after buying an additional 598 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its stake in shares of Kyocera Corporation by 9.4% in the second quarter. Wetherby Asset Management Inc. now owns 8,323 shares of the electronics maker’s stock worth $485,000 after buying an additional 716 shares in the last quarter. 0.57% of the stock is currently owned by institutional investors and hedge funds.

Kyocera Corporation Company Profile

Kyocera Corporation is engaged in various fields, from fine ceramic components to electronic devices, equipment, services and networks. The Company operates through seven segments: Fine Ceramic Parts Group, Semiconductor Parts Group, Applied Ceramic Products Group, Electronic Device Group, Telecommunications Equipment Group, Information Equipment Group and Others.

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