Analysts at Goldman Sachs Group assumed coverage on shares of Cabot Microelectronics (NASDAQ:CCMP) in a report released on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $148.00 price target on the semiconductor company’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 34.86% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $129.20.
CCMP opened at $109.74 on Monday. Cabot Microelectronics has a fifty-two week low of $82.24 and a fifty-two week high of $129.94. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.40 and a quick ratio of 2.40. The business’s fifty day simple moving average is $105.87. The firm has a market capitalization of $3.18 billion, a P/E ratio of 21.02 and a beta of 1.41.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.06). Cabot Microelectronics had a return on equity of 20.79% and a net margin of 15.61%. The business had revenue of $265.39 million for the quarter, compared to analyst estimates of $273.30 million. On average, analysts forecast that Cabot Microelectronics will post 6.78 earnings per share for the current fiscal year.
In other news, Director Barbara A. Klein sold 3,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $108.28, for a total value of $324,840.00. Following the sale, the director now owns 26,104 shares in the company, valued at approximately $2,826,541.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in CCMP. Bremer Bank National Association bought a new position in shares of Cabot Microelectronics in the first quarter valued at about $32,000. Quadrant Capital Group LLC raised its holdings in shares of Cabot Microelectronics by 121.2% in the first quarter. Quadrant Capital Group LLC now owns 427 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 234 shares during the last quarter. Private Capital Group LLC raised its holdings in shares of Cabot Microelectronics by 24.7% in the first quarter. Private Capital Group LLC now owns 474 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 94 shares during the last quarter. NumerixS Investment Technologies Inc raised its holdings in Cabot Microelectronics by 60.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 800 shares of the semiconductor company’s stock worth $75,000 after purchasing an additional 300 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Cabot Microelectronics during the 1st quarter worth about $91,000. 98.84% of the stock is owned by institutional investors and hedge funds.
About Cabot Microelectronics
Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.
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