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

Kyocera Corporation (NYSE:KYO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $69.00 price target on the electronics maker’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.21% from the stock’s previous close.

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. “

KYO has been the topic of a number of other research reports. Mizuho raised Kyocera Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 13th. BidaskClub lowered Kyocera Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.

Kyocera Corporation (NYSE:KYO) traded up 0.44% during mid-day trading on Tuesday, reaching $61.49. The company had a trading volume of 5,996 shares. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of 20.37 and a beta of 0.53. Kyocera Corporation has a 52 week low of $46.98 and a 52 week high of $61.71. The stock has a 50 day moving average of $60.18 and a 200 day moving average of $57.94.

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

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in Kyocera Corporation by 5.4% during the second quarter. Parallel Advisors LLC now owns 1,637 shares of the electronics maker’s stock worth $100,000 after buying an additional 84 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Kyocera Corporation by 65.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,015 shares of the electronics maker’s stock worth $113,000 after buying an additional 795 shares during the last quarter. Bessemer Group Inc. boosted its stake in Kyocera Corporation by 142.8% during the second quarter. Bessemer Group Inc. now owns 3,261 shares of the electronics maker’s stock worth $190,000 after buying an additional 1,918 shares during the last quarter. Greenleaf Trust acquired a new position in Kyocera Corporation during the second quarter worth $212,000. Finally, Stifel Financial Corp acquired a new position in Kyocera Corporation during the first quarter worth $229,000. 0.54% of the stock is currently owned by institutional investors.

About Kyocera Corporation

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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