Loop Capital Analysts Give Cabot Microelectronics (CCMP) a $117.00 Price Target

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Cabot Microelectronics (NASDAQ:CCMP) has been given a $117.00 target price by research analysts at Loop Capital in a research note issued on Monday, The Fly reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Loop Capital’s target price would suggest a potential upside of 6.39% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other research analysts also recently weighed in on CCMP. BidaskClub downgraded Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 24th. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research note on Wednesday, May 2nd. Finally, ValuEngine downgraded Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Cabot Microelectronics presently has a consensus rating of “Buy” and a consensus target price of $115.00.

NASDAQ:CCMP opened at $109.97 on Monday. The stock has a market cap of $2.78 billion, a P/E ratio of 30.89 and a beta of 1.37. Cabot Microelectronics has a 52-week low of $68.88 and a 52-week high of $123.76.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.17. The business had revenue of $150.40 million during 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%. Cabot Microelectronics’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. analysts anticipate that Cabot Microelectronics will post 5.09 EPS for the current year.

In other Cabot Microelectronics news, VP Ananth Naman sold 3,034 shares of the firm’s 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 transaction, the vice president now directly owns 16,803 shares in the company, valued at $1,954,524.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC lifted its position in shares of Cabot Microelectronics by 9.2% in the second quarter. Piedmont Investment Advisors LLC now owns 5,980 shares of the semiconductor company’s stock valued at $643,000 after buying an additional 506 shares during the last quarter. Mason Street Advisors LLC lifted its position in shares of Cabot Microelectronics by 7.7% in the first quarter. Mason Street Advisors LLC now owns 7,104 shares of the semiconductor company’s stock valued at $761,000 after buying an additional 509 shares during the last quarter. Amalgamated Bank lifted its position in shares of Cabot Microelectronics by 14.1% in the second quarter. Amalgamated Bank now owns 4,155 shares of the semiconductor company’s stock valued at $447,000 after buying an additional 512 shares during the last quarter. BlueMountain Capital Management LLC lifted its position in shares of Cabot Microelectronics by 7.2% in the second quarter. BlueMountain Capital Management LLC now owns 8,106 shares of the semiconductor company’s stock valued at $872,000 after buying an additional 545 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of Cabot Microelectronics by 2.1% in the second quarter. Comerica Bank now owns 27,487 shares of the semiconductor company’s stock valued at $3,193,000 after buying an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 99.57% of the company’s stock.

Cabot Microelectronics Company Profile

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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