Kemet Corporation (KEM) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Kemet Corporation (NYSE:KEM) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Kemet Corporation from a strong-buy rating to a hold rating in a report on Wednesday, July 12th. BidaskClub cut Kemet Corporation from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a hold rating and issued a $12.00 target price on shares of Kemet Corporation in a report on Friday, July 14th. TheStreet raised Kemet Corporation from a c+ rating to a b rating in a report on Wednesday, August 2nd. Finally, B. Riley reaffirmed a buy rating and issued a $24.25 target price on shares of Kemet Corporation in a report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Kemet Corporation has an average rating of Buy and a consensus target price of $21.42.

Shares of Kemet Corporation (KEM) opened at 23.94 on Thursday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 4.97 and a beta of 3.56. Kemet Corporation has a 12 month low of $3.45 and a 12 month high of $24.64. The company has a 50-day moving average price of $21.29 and a 200-day moving average price of $15.80.

Kemet Corporation (NYSE:KEM) last issued its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. Kemet Corporation had a return on equity of 20.21% and a net margin of 33.25%. The business had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $282.52 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. Equities analysts forecast that Kemet Corporation will post $1.59 EPS for the current fiscal year.

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In other news, insider Charles C. Meeks, Jr. sold 30,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $18.89, for a total value of $566,700.00. Following the completion of the sale, the insider now owns 259,781 shares of the company’s stock, valued at $4,907,263.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Stefano Vetralla sold 9,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were 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 approximately $965,125.70. The disclosure for this sale can be found here. In the last three months, insiders sold 80,859 shares of company stock valued at $1,598,660. Insiders own 3.88% of the company’s stock.

Several hedge funds have recently modified their holdings of KEM. Globeflex Capital L P acquired a new stake in shares of Kemet Corporation in the second quarter valued at about $105,000. JPMorgan Chase & Co. acquired a new stake in shares of Kemet Corporation in the second quarter valued at about $125,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Kemet Corporation in the second quarter valued at about $143,000. Legal & General Group Plc acquired a new stake in shares of Kemet Corporation in the second quarter valued at about $147,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Kemet Corporation in the second quarter valued at about $177,000. 67.27% of the stock is owned by institutional investors.

About Kemet Corporation

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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