KEMET (KEM) Price Target Increased to $24.75 by Analysts at B. Riley

KEMET (NYSE:KEM) had its price objective lifted by equities researchers at B. Riley from $22.50 to $24.75 in a research note issued on Friday. The brokerage presently has a “buy” rating on the electronics maker’s stock. B. Riley’s price target suggests a potential upside of 28.84% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. TheStreet downgraded shares of KEMET from a “b” rating to a “c” rating in a research note on Thursday, November 2nd. Zacks Investment Research downgraded shares of KEMET from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, ValuEngine cut shares of KEMET from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. One 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 company. The company currently has a consensus rating of “Buy” and an average price target of $19.58.

Shares of KEMET (NYSE:KEM) opened at $19.21 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.73 and a current ratio of 2.49. The firm has a market cap of $1,087.38, a P/E ratio of 14.23 and a beta of 3.63. KEMET has a 12 month low of $7.34 and a 12 month high of $27.35.

KEMET (NYSE:KEM) last posted its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.16. The business had revenue of $306.40 million during the quarter, compared to the consensus estimate of $295.68 million. KEMET had a net margin of 28.33% and a return on equity of 22.51%. KEMET’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. analysts predict that KEMET will post 1.45 EPS for the current year.

In related news, CFO William M. Lowe, Jr. sold 21,903 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total transaction of $352,200.24. Following the completion of the transaction, the chief financial officer now owns 523,038 shares in the company, valued at $8,410,451.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Vincent Borruso sold 20,332 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $20.00, for a total transaction of $406,640.00. Following the transaction, the director now owns 70,134 shares of the company’s stock, valued at approximately $1,402,680. The disclosure for this sale can be found here. 3.88% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System grew its holdings in KEMET by 14.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 17,027 shares of the electronics maker’s stock valued at $360,000 after purchasing an additional 2,110 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of KEMET by 13.1% in the second quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock valued at $317,000 after buying an additional 2,875 shares during the period. State of Tennessee Treasury Department acquired a new position in shares of KEMET in the third quarter valued at approximately $108,000. Denali Advisors LLC acquired a new position in shares of KEMET in the third quarter valued at approximately $122,000. Finally, James Investment Research Inc. boosted its holdings in shares of KEMET by 9.0% in the fourth quarter. James Investment Research Inc. now owns 71,630 shares of the electronics maker’s stock valued at $1,079,000 after buying an additional 5,910 shares during the period. Hedge funds and other institutional investors own 69.05% of the company’s stock.

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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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