Kemet (KEM) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Kemet (NYSE:KEM) from a sell rating to a hold rating in a research report released on Thursday.

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. “

Other research analysts have also issued research reports about the company. B. Riley reissued a buy rating and set a $27.50 price objective on shares of Kemet in a report on Tuesday, October 31st. TheStreet lowered Kemet from a b rating to a c rating in a report on Thursday, November 2nd. Finally, ValuEngine lowered Kemet from a buy rating to a hold rating in a report on Friday, December 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $22.50.

Kemet (NYSE KEM) opened at $16.57 on Thursday. Kemet has a twelve month low of $6.27 and a twelve month high of $27.35. The company has a current ratio of 2.51, a quick ratio of 1.73 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $934.24, a PE ratio of 3.37 and a beta of 3.45.

Kemet (NYSE:KEM) last issued its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Kemet had a return on equity of 21.07% and a net margin of 31.16%. The company had revenue of $301.47 million during the quarter, compared to analyst estimates of $298.51 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Kemet’s revenue was up 60.9% on a year-over-year basis. research analysts forecast that Kemet will post 1.44 EPS for the current fiscal year.

In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total value of $352,200.24. Following the completion of the sale, the chief financial officer now owns 523,038 shares of the company’s stock, valued at $8,410,451.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.88% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Globeflex Capital L P purchased a new stake in Kemet in the second quarter worth approximately $105,000. State of Tennessee Treasury Department purchased a new stake in Kemet in the third quarter worth approximately $108,000. Denali Advisors LLC purchased a new stake in Kemet in the third quarter worth approximately $122,000. JPMorgan Chase & Co. purchased a new stake in Kemet in the second quarter worth approximately $125,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Kemet in the second quarter worth approximately $143,000. 69.79% of the stock is owned by institutional investors and hedge funds.

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Kemet 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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