Kyocera Corporation (KYO) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Kyocera Corporation (NYSE:KYO) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $69.00 price objective on the electronics maker’s stock.

According to Zacks, “Kyocera Corporation was founded in 1959 as a company specializing in the production of fine ceramic components, Kyocera has expanded its business by effectively developing and applying its ceramics technologies. The company has grown to be a world-leading manufacturer of ceramics, including custom parts and consumer products. Kyocera’s materials, components, and finished products are used in virtually all fields of industry. In addition to ceramics, products also include information, tele-communications, and Optical equipment. “

A number of other equities research analysts have also weighed in on KYO. BidaskClub raised Kyocera Corporation from a strong sell rating to a sell rating in a research report on Tuesday, August 1st. Mizuho raised Kyocera Corporation from a neutral rating to a buy rating in a research report on Tuesday, June 13th.

Shares of Kyocera Corporation (NYSE:KYO) opened at 61.49 on Tuesday. The firm has a 50-day moving average price of $60.18 and a 200 day moving average price of $57.94. Kyocera Corporation has a 52 week low of $46.98 and a 52 week high of $61.71. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of 20.37 and a beta of 0.53.

Kyocera Corporation (NYSE:KYO) last announced its earnings results on Friday, July 28th. The electronics maker reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.25. The firm had revenue of $3.11 billion during the quarter. Kyocera Corporation had a return on equity of 4.96% and a net margin of 8.34%. On average, analysts forecast that Kyocera Corporation will post $2.18 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of KYO. Bank of New York Mellon Corp boosted its stake in shares of Kyocera Corporation by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 18,141 shares of the electronics maker’s stock worth $1,018,000 after buying an additional 2,049 shares during the last quarter. Comerica Bank boosted its position in Kyocera Corporation by 1.4% during the first quarter. Comerica Bank now owns 22,280 shares of the electronics maker’s stock worth $1,267,000 after purchasing an additional 297 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in Kyocera Corporation by 26.3% during the first quarter. Parametric Portfolio Associates LLC now owns 279,445 shares of the electronics maker’s stock worth $15,685,000 after purchasing an additional 58,196 shares in the last quarter. Stifel Financial Corp purchased a new position in Kyocera Corporation during the first quarter worth approximately $229,000. Finally, Stratos Wealth Partners LTD. purchased a new position in Kyocera Corporation during the first quarter worth approximately $901,000. Hedge funds and other institutional investors own 0.54% of the company’s stock.

Kyocera Corporation Company Profile

Kyocera Corporation is engaged in various fields, from fine ceramic components to electronic devices, equipment, services and networks. The Company operates through seven segments: Fine Ceramic Parts Group, Semiconductor Parts Group, Applied Ceramic Products Group, Electronic Device Group, Telecommunications Equipment Group, Information Equipment Group and Others.

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