Kyocera (KYO) Lifted to “Buy” at Zacks Investment Research
Kyocera (NYSE:KYO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $73.00 price objective on the electronics maker’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.66% from the stock’s current price.
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. “
Separately, ValuEngine downgraded shares of Kyocera from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.
Several hedge funds have recently added to or reduced their stakes in KYO. Bank of New York Mellon Corp raised its stake in shares of Kyocera by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 18,906 shares of the electronics maker’s stock valued at $1,102,000 after acquiring an additional 765 shares during the last quarter. Wells Fargo & Company MN raised its stake in Kyocera by 2,254.3% during the second quarter. Wells Fargo & Company MN now owns 23,684 shares of the electronics maker’s stock worth $1,381,000 after buying an additional 22,678 shares during the last quarter. HPM Partners LLC raised its stake in Kyocera by 159.7% during the second quarter. HPM Partners LLC now owns 12,465 shares of the electronics maker’s stock worth $207,000 after buying an additional 7,666 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Kyocera by 29.7% during the second quarter. PNC Financial Services Group Inc. now owns 2,613 shares of the electronics maker’s stock worth $152,000 after buying an additional 598 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Kyocera by 12.1% during the second quarter. Parametric Portfolio Associates LLC now owns 313,139 shares of the electronics maker’s stock worth $18,247,000 after buying an additional 33,694 shares during the last quarter. 0.55% of the stock is owned by hedge funds and other institutional investors.
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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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