According to Zacks, “Cabot Microelectronics Corporation is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. The company’s products play a critical role in the production of the most advanced semiconductor devices, enabling the manufacture of smaller, faster and more complex devices by its customers. Cabot Microelectronics has demonstrated consistent, steady growth and is the leader in the CMP Industry, as well as part of the dynamic, high-growth Consumer Electronics Industry, enabling the manufacture of leading edge devices in on of the most innovative industries in the world. “
A number of other research firms have also weighed in on CCMP. Goldman Sachs Group reissued a hold rating and set a $8.40 price objective on shares of Deutsche Bank in a research note on Monday, July 8th. CL King assumed coverage on Cabot Microelectronics in a research note on Monday, July 8th. They set a buy rating and a $125.00 price objective for the company. Finally, BidaskClub lowered Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $129.20.
NASDAQ:CCMP opened at $110.32 on Monday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 21.13 and a beta of 1.41. 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 quick ratio of 2.40 and a current ratio of 3.40. The company’s 50 day moving average is $107.51.
Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.06). The company had revenue of $265.39 million for the quarter, compared to analysts’ expectations of $273.30 million. Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%. As a group, equities research analysts forecast that Cabot Microelectronics will post 6.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Tuesday, June 25th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, June 24th. Cabot Microelectronics’s payout ratio is 32.18%.
In related news, Director Barbara A. Klein sold 3,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $108.28, for a total value of $324,840.00. Following the completion of the sale, the director now owns 26,104 shares of the company’s stock, valued at $2,826,541.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in Cabot Microelectronics by 15.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,141 shares of the semiconductor company’s stock worth $585,000 after acquiring an additional 828 shares during the period. Bank of New York Mellon Corp raised its holdings in Cabot Microelectronics by 9.4% in the 4th quarter. Bank of New York Mellon Corp now owns 496,469 shares of the semiconductor company’s stock worth $47,338,000 after acquiring an additional 42,820 shares during the period. Advisor Group Inc. raised its holdings in Cabot Microelectronics by 67.9% in the 4th quarter. Advisor Group Inc. now owns 2,950 shares of the semiconductor company’s stock worth $282,000 after acquiring an additional 1,193 shares during the period. Northern Trust Corp raised its holdings in Cabot Microelectronics by 9.3% in the 4th quarter. Northern Trust Corp now owns 372,937 shares of the semiconductor company’s stock worth $35,559,000 after acquiring an additional 31,744 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in Cabot Microelectronics by 20.4% in the 4th quarter. Great West Life Assurance Co. Can now owns 37,703 shares of the semiconductor company’s stock worth $3,319,000 after acquiring an additional 6,390 shares during the period. 99.01% of the stock is owned by institutional investors.
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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