KEMET (KEM) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of KEMET (NYSE:KEM) from a strong sell rating to a sell rating in a research report report published on Wednesday.

Other research analysts have also recently issued research reports about the stock. B. Riley lifted their target price on shares of KEMET and gave the company a buy rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of KEMET from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Thursday, July 19th. Finally, Macquarie started coverage on shares of KEMET in a research note on Monday, October 8th. They issued an outperform rating on the stock.

KEM opened at $22.05 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.60. KEMET has a fifty-two week low of $13.73 and a fifty-two week high of $29.85. The firm has a market cap of $1.27 billion, a P/E ratio of 13.61 and a beta of 3.03.

KEMET (NYSE:KEM) last released its earnings results on Tuesday, October 30th. The electronics maker reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.27. KEMET had a net margin of 7.18% and a return on equity of 27.21%. The company had revenue of $349.20 million for the quarter, compared to analysts’ expectations of $335.56 million. During the same quarter in the previous year, the company earned $0.45 EPS. KEMET’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts expect that KEMET will post 2.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Friday, November 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, November 15th.

In other KEMET news, CEO Per Olof Loof sold 10,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $25.40, for a total value of $254,000.00. Following the sale, the chief executive officer now owns 888,992 shares in the company, valued at approximately $22,580,396.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ronald James Assaf sold 3,333 shares of the business’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $18.40, for a total transaction of $61,327.20. Following the completion of the sale, the senior vice president now owns 86,722 shares in the company, valued at approximately $1,595,684.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,999 shares of company stock worth $471,612. Corporate insiders own 2.95% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Divisar Capital Management LLC increased its holdings in shares of KEMET by 357.7% in the 2nd quarter. Divisar Capital Management LLC now owns 322,282 shares of the electronics maker’s stock worth $7,783,000 after buying an additional 251,862 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of KEMET in the 2nd quarter worth about $3,222,000. Point72 Asset Management L.P. increased its holdings in shares of KEMET by 223.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,211,768 shares of the electronics maker’s stock worth $29,264,000 after buying an additional 836,668 shares during the last quarter. Columbia Partners L L C Investment Management bought a new stake in shares of KEMET in the 2nd quarter worth about $1,833,000. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of KEMET in the 2nd quarter worth about $16,369,000. Institutional investors and hedge funds own 77.13% of the company’s stock.

About KEMET

KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.

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