Cabot Microelectronics Co. (CCMP) Receives $120.80 Consensus Target Price from Analysts

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Cabot Microelectronics Co. (NASDAQ:CCMP) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $120.80.

Several equities analysts have weighed in on CCMP shares. BidaskClub upgraded shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Zacks Investment Research lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Loop Capital set a $117.00 price objective on shares of Cabot Microelectronics and gave the stock a “buy” rating in a report on Monday, August 20th. They noted that the move was a valuation call. Finally, Buckingham Research began coverage on shares of Cabot Microelectronics in a report on Thursday, November 29th. They issued a “buy” rating and a $130.00 price objective on the stock.

In other news, Director Barbara A. Klein sold 5,635 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $102.68, for a total value of $578,601.80. Following the transaction, the director now directly owns 33,830 shares in the company, valued at approximately $3,473,664.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors lifted its holdings in shares of Cabot Microelectronics by 495.4% in the 2nd 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. purchased a new stake in Cabot Microelectronics during the 2nd quarter worth approximately $116,000. First Quadrant L P CA purchased a new stake in Cabot Microelectronics during the 3rd quarter worth approximately $139,000. D.A. Davidson & CO. purchased a new stake in Cabot Microelectronics during the 2nd quarter worth approximately $203,000. Finally, NumerixS Investment Technologies Inc increased its stake in Cabot Microelectronics by 280.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the semiconductor company’s stock worth $201,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 99.48% of the company’s stock.

NASDAQ:CCMP traded down $5.34 on Friday, hitting $103.87. The stock had a trading volume of 135,931 shares, compared to its average volume of 222,804. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 19.90 and a beta of 1.27. Cabot Microelectronics has a 1-year low of $89.19 and a 1-year high of $123.76.

Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results on Wednesday, October 24th. The semiconductor company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.14. The company had revenue of $156.70 million for the quarter, compared to analyst estimates of $155.65 million. Cabot Microelectronics had a net margin of 18.64% and a return on equity of 21.59%. Cabot Microelectronics’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. Sell-side analysts anticipate that Cabot Microelectronics will post 6.9 EPS for the current year.

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 chemical mechanical planarization (CMP) process. It provides CMP slurries, which are liquid solutions composed of high-purity deionized water, proprietary chemical additives, and engineered abrasives that chemically and mechanically interact with the surface material of the IC device at an atomic level; and CMP pads that are engineered polymeric materials designed to distribute and transport the slurry to the surface of the wafer and distribute it evenly across the wafer.

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