Macquarie initiated coverage on shares of KEMET (NYSE:KEM) in a research note issued to investors on Monday morning, The Fly reports. The firm issued an outperform rating on the electronics maker’s stock.
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of KEMET from a buy rating to a hold rating in a report on Thursday, August 9th. B. Riley increased their target price on shares of KEMET and gave the stock a buy rating in a report on Thursday, July 26th. Finally, Zacks Investment Research upgraded shares of KEMET from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $28.88.
KEM opened at $17.16 on Monday. The company has a current ratio of 2.44, a quick ratio of 1.66 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 10.59 and a beta of 3.85. KEMET has a twelve month low of $13.73 and a twelve month high of $29.85.
KEMET (NYSE:KEM) last posted its earnings results on Wednesday, July 25th. The electronics maker reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.08. The company had revenue of $327.62 million for the quarter, compared to analyst estimates of $318.22 million. KEMET had a net margin of 5.52% and a return on equity of 23.78%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. Research analysts predict that KEMET will post 2.27 earnings per share for the current year.
In related news, SVP Ronald James Assaf sold 3,333 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $25.06, for a total transaction of $83,524.98. Following the sale, the senior vice president now directly owns 93,288 shares in the company, valued at $2,337,797.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Per Olof Loof sold 10,000 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $25.40, for a total transaction of $254,000.00. Following the sale, the chief executive officer now owns 888,992 shares in the company, valued at $22,580,396.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,666 shares of company stock worth $398,852. 2.95% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of KEM. BlackRock Inc. grew its position in KEMET by 6.8% in the second quarter. BlackRock Inc. now owns 7,076,771 shares of the electronics maker’s stock valued at $170,904,000 after purchasing an additional 452,341 shares in the last quarter. Dimensional Fund Advisors LP grew its position in KEMET by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,256,799 shares of the electronics maker’s stock valued at $78,651,000 after purchasing an additional 52,024 shares in the last quarter. Nokomis Capital L.L.C. grew its position in KEMET by 45.1% in the first quarter. Nokomis Capital L.L.C. now owns 1,941,050 shares of the electronics maker’s stock valued at $35,191,000 after purchasing an additional 603,608 shares in the last quarter. Point72 Asset Management L.P. grew its position in KEMET by 223.1% in the second quarter. Point72 Asset Management L.P. now owns 1,211,768 shares of the electronics maker’s stock valued at $29,264,000 after purchasing an additional 836,668 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in KEMET by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 1,003,590 shares of the electronics maker’s stock valued at $24,237,000 after purchasing an additional 46,047 shares in the last quarter. Institutional investors and hedge funds own 77.76% of the company’s stock.
KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.
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