Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) have been given an average rating of “Buy” by the seven analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $115.00.
Several equities analysts have recently weighed in on the company. ValuEngine downgraded Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. BidaskClub downgraded Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research downgraded Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Loop Capital set a $117.00 target price on Cabot Microelectronics and gave the company a “buy” rating in a research report on Monday. They noted that the move was a valuation call.
Shares of NASDAQ CCMP traded up $0.17 during midday trading on Wednesday, hitting $110.14. The stock had a trading volume of 13,571 shares, compared to its average volume of 232,277. The company has a market cap of $2.78 billion, a PE ratio of 30.94 and a beta of 1.37. Cabot Microelectronics has a 1 year low of $68.88 and a 1 year high of $123.76.
Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Wednesday, July 25th. The semiconductor company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.17. The business had revenue of $150.40 million for the quarter, compared to the consensus estimate of $146.58 million. Cabot Microelectronics had a return on equity of 20.40% and a net margin of 15.47%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 earnings per share. research analysts forecast that Cabot Microelectronics will post 5.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 30th. Investors of record on Monday, June 25th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. Cabot Microelectronics’s dividend payout ratio is presently 44.94%.
In related news, VP Ananth Naman sold 3,034 shares of the stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $116.32, for a total value of $352,914.88. Following the completion of the sale, the vice president now owns 16,803 shares of the company’s stock, valued at $1,954,524.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors increased its stake in Cabot Microelectronics by 495.4% during the second quarter. Captrust Financial Advisors now owns 1,030 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 857 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Cabot Microelectronics during the second quarter worth $116,000. Citigroup Inc. increased its stake in Cabot Microelectronics by 337.4% during the first quarter. Citigroup Inc. now owns 1,194 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 921 shares during the last quarter. Advisors Preferred LLC acquired a new stake in Cabot Microelectronics during the first quarter worth $141,000. Finally, Bruderman Asset Management LLC acquired a new stake in Cabot Microelectronics during the first quarter worth $155,000. 99.57% of the stock is owned by hedge funds and other institutional investors.
About Cabot Microelectronics
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers.
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