Zacks Investment Research Lowers Kemet (KEM) to Sell

Kemet (NYSE:KEM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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. “

A number of other research analysts also recently commented on the stock. ValuEngine downgraded shares of Kemet from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. TheStreet downgraded shares of Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. B. Riley reissued a “buy” rating and issued a $27.50 target price on shares of Kemet in a research report on Tuesday, October 31st. BidaskClub downgraded shares of Kemet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Kemet in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.50.

Kemet (NYSE:KEM) opened at $14.35 on Tuesday. Kemet has a 1 year low of $5.78 and a 1 year high of $27.35. The company has a market cap of $829.94, a P/E ratio of 15.93 and a beta of 3.44. The company has a current ratio of 2.51, a quick ratio of 1.73 and a debt-to-equity ratio of 0.75.

Kemet (NYSE:KEM) last announced its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The firm had revenue of $301.47 million for the quarter, compared to the consensus estimate of $298.51 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue was up 60.9% on a year-over-year basis. equities analysts anticipate 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 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 value of $352,200.24. Following the completion of the sale, the chief financial officer now directly owns 523,038 shares of the company’s stock, valued at $8,410,451.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.88% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Kemet by 59.8% in the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock worth $48,500,000 after acquiring an additional 1,418,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kemet by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock worth $38,503,000 after buying an additional 179,841 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Kemet by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock worth $22,374,000 after buying an additional 202,892 shares during the last quarter. Numeric Investors LLC lifted its stake in shares of Kemet by 1,622.5% in the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock worth $14,221,000 after buying an additional 1,046,539 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Kemet by 1,972.6% in the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock worth $9,606,000 after buying an additional 714,335 shares during the last quarter. 69.90% of the stock is owned by institutional investors.

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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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