Short Interest in Kemet Corporation (KEM) Decreases By 40.7%

Kemet Corporation (NYSE:KEM) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 1,604,260 shares, a drop of 40.7% from the November 30th total of 2,706,612 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average trading volume of 2,067,998 shares, the days-to-cover ratio is presently 0.8 days.

Kemet (NYSE KEM) opened at $16.06 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.51 and a debt-to-equity ratio of 0.75. Kemet has a one year low of $6.26 and a one year high of $27.35. The company has a market cap of $905.49, a price-to-earnings ratio of 3.27 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The business had revenue of $301.47 million for the quarter, compared to the consensus estimate of $298.51 million. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The company’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. analysts anticipate that Kemet will post 1.44 EPS for the current year.

In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of Kemet 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 transaction, 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 available at this hyperlink. Company insiders own 3.88% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its position in Kemet by 14.1% during the 3rd 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 increased its position in Kemet by 13.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock valued at $317,000 after purchasing an additional 2,875 shares during the period. Engineers Gate Manager LP increased its position in Kemet by 5.4% during the 2nd quarter. Engineers Gate Manager LP now owns 89,818 shares of the electronics maker’s stock valued at $1,150,000 after purchasing an additional 4,567 shares during the period. State of Tennessee Treasury Department purchased a new position in Kemet during the 3rd quarter valued at $108,000. Finally, Denali Advisors LLC purchased a new position in Kemet during the 3rd quarter valued at $122,000. 69.79% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on KEM shares. Zacks Investment Research downgraded shares of Kemet from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. TheStreet downgraded shares of Kemet from a “b” rating to a “c” rating in a research note on Thursday, November 2nd. ValuEngine downgraded shares of Kemet from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, B. Riley reaffirmed a “buy” rating and issued a $27.50 target price on shares of Kemet in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.50.

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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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