Kemet (KEM) Trading 9.2% Higher

Kemet Corporation (NYSE:KEM)’s share price traded up 9.2% during mid-day trading on Friday . The stock traded as high as $20.11 and last traded at $19.97. 4,238,745 shares changed hands during mid-day trading, an increase of 177% from the average session volume of 1,532,339 shares. The stock had previously closed at $18.28.

Several equities analysts have issued reports on the company. Zacks Investment Research raised Kemet from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. ValuEngine lowered Kemet from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. TheStreet lowered Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $27.50 target price on shares of Kemet in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with 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.

The company has a quick ratio of 1.73, a current ratio of 2.51 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1,130.00, a PE ratio of 4.07 and a beta of 3.45.

Kemet (NYSE:KEM) last issued its earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $298.51 million. During the same period in the prior year, the firm earned $0.13 earnings per share. Kemet’s revenue for the quarter was up 60.9% on a year-over-year basis. analysts expect that Kemet Corporation will post 1.44 EPS for the current fiscal year.

In other 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Kemet during the fourth quarter worth approximately $146,000. Fox Run Management L.L.C. grew its holdings in Kemet by 184.2% during the fourth quarter. Fox Run Management L.L.C. now owns 31,550 shares of the electronics maker’s stock worth $475,000 after buying an additional 20,450 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Kemet by 12.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 246,688 shares of the electronics maker’s stock worth $3,716,000 after buying an additional 27,325 shares in the last quarter. Creative Planning grew its holdings in Kemet by 79.1% during the fourth quarter. Creative Planning now owns 32,948 shares of the electronics maker’s stock worth $496,000 after buying an additional 14,553 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Kemet during the third quarter worth $656,000. 69.79% of the stock is currently 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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