Kemet Corporation (KEM) Short Interest Up 47.5% in December

Kemet Corporation (NYSE:KEM) was the target of a significant growth in short interest in December. As of December 29th, there was short interest totalling 2,366,125 shares, a growth of 47.5% from the December 15th total of 1,604,260 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,451,438 shares, the days-to-cover ratio is presently 1.6 days.

Shares of Kemet (NYSE KEM) opened at $16.74 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.73 and a current ratio of 2.51. Kemet has a 12-month low of $6.64 and a 12-month high of $27.35. The company has a market capitalization of $943.83, a P/E ratio of 3.41 and a beta of 3.45.

Kemet (NYSE:KEM) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $298.51 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 60.9% on a year-over-year basis. analysts predict that Kemet will post 1.44 EPS for the current fiscal year.

KEM has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating and issued a $27.50 price objective on shares of Kemet in a research report on Tuesday, October 31st. TheStreet cut Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. Zacks Investment Research cut Kemet from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Finally, ValuEngine cut Kemet from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.50.

In other news, CFO William M. Lowe, Jr. sold 21,903 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total value of $352,200.24. Following the completion of the sale, the chief financial officer now directly owns 523,038 shares in the company, valued at $8,410,451.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.88% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kemet by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock worth $38,503,000 after purchasing an additional 179,841 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kemet by 13.1% during the second quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock worth $22,374,000 after purchasing an additional 202,892 shares in the last quarter. Numeric Investors LLC increased its position in shares of Kemet by 1,622.5% during the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock worth $14,221,000 after purchasing an additional 1,046,539 shares in the last quarter. Finally, State Street Corp increased its position in shares of Kemet by 1,972.6% during the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock worth $9,606,000 after purchasing an additional 714,335 shares in the last quarter. Hedge funds and other institutional investors own 69.79% 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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