Kemet (NYSE:KEM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “KEMET Corporation and its subsidiaries is the world’s largest manufacturer of solid tantalum capacitors and and one of the world’s largest manufacturer of multilayer ceramic capacitors. According to industry sources, tantalum and ceramic capacitors are the two fastest growing sectors of the United States capacitor industry. Capacitors are electronic components that store, filter and regulate electrical energy and current flow and are one of the essential passive components used on circuit boards. “

Other analysts have also recently issued reports about the company. ValuEngine upgraded Kemet from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub cut Kemet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. B. Riley reiterated a “buy” rating and issued a $24.25 price target on shares of Kemet in a research report on Tuesday, August 8th. TheStreet cut Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Kemet in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.50.

Shares of Kemet (NYSE:KEM) traded down $0.02 during trading hours on Tuesday, reaching $14.46. The company’s stock had a trading volume of 1,544,964 shares, compared to its average volume of 2,067,267. Kemet has a 52-week low of $5.78 and a 52-week high of $27.35. The company has a market capitalization of $815.28, a PE ratio of 14.91 and a beta of 3.44. 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 (NYSE:KEM) last announced its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share for the quarter, beating 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 firm had revenue of $301.47 million for the quarter, compared to analysts’ expectations of $298.51 million. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s revenue was up 60.9% compared to the same quarter last year. equities research analysts forecast that Kemet will post 1.44 earnings per share for the current fiscal year.

In other news, CFO William M. Lowe, Jr. sold 21,903 shares of the stock in a transaction 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 sale, the chief financial officer now owns 523,038 shares in the company, valued at $8,410,451.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in KEM. Renaissance Technologies LLC grew its holdings in shares of Kemet by 59.8% during the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock worth $48,500,000 after purchasing an additional 1,418,000 shares during the last quarter. Numeric Investors LLC boosted its holdings in Kemet by 1,622.5% in the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock valued at $14,221,000 after acquiring an additional 1,046,539 shares during the last quarter. State Street Corp boosted its holdings in Kemet by 1,972.6% in the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock valued at $9,606,000 after acquiring an additional 714,335 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Kemet by 289.2% in the third quarter. Bank of New York Mellon Corp now owns 626,776 shares of the electronics maker’s stock valued at $13,243,000 after acquiring an additional 465,727 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Kemet by 4,743.7% in the third quarter. JPMorgan Chase & Co. now owns 471,288 shares of the electronics maker’s stock valued at $10,265,000 after acquiring an additional 461,558 shares during the last quarter. Institutional investors own 69.90% of the company’s stock.

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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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