Kemet Corporation (NYSE:KEM)’s share price gapped up before the market opened on Monday . The stock had previously closed at $19.25, but opened at $20.44. Kemet Corporation shares last traded at $20.88, with a volume of 2,168,028 shares changing hands.
Several equities analysts recently issued reports on KEM shares. BidaskClub lowered Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Stifel Nicolaus restated a “hold” rating on shares of Kemet Corporation in a research note on Monday, August 7th. B. Riley restated a “buy” rating and set a $24.25 price target on shares of Kemet Corporation in a research note on Tuesday, August 8th. ValuEngine upgraded Kemet Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Friday, July 14th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $18.08.
The company has a market cap of $953.05 million, a P/E ratio of 4.1449 and a beta of 3.55. The firm’s 50 day moving average price is $19.83 and its 200-day moving average price is $14.53.
Kemet Corporation (NYSE:KEM) last announced its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The business had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $282.52 million. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The firm’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. On average, analysts predict that Kemet Corporation will post $1.57 EPS for the current fiscal year.
In other news, VP Stefano Vetralla sold 9,000 shares of Kemet Corporation stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $18.70, for a total transaction of $168,300.00. Following the transaction, the vice president now owns 51,611 shares in the company, valued at $965,125.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charles C. Meeks, Jr. sold 30,000 shares of Kemet Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $18.89, for a total transaction of $566,700.00. Following the transaction, the insider now owns 259,781 shares in the company, valued at approximately $4,907,263.09. The disclosure for this sale can be found here. Insiders sold 80,859 shares of company stock worth $1,598,660 in the last 90 days. Company insiders own 3.88% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Globeflex Capital L P bought a new position in Kemet Corporation during the second quarter worth $105,000. Founders Capital Management bought a new stake in Kemet Corporation in the first quarter valued at $108,000. JPMorgan Chase & Co. bought a new stake in Kemet Corporation in the second quarter valued at $125,000. UBS Asset Management Americas Inc. bought a new stake in Kemet Corporation in the second quarter valued at $143,000. Finally, Legal & General Group Plc bought a new stake in Kemet Corporation in the second quarter valued at $147,000. 68.87% of the stock is owned by institutional investors and hedge funds.
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About Kemet Corporation
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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