Cabot Microelectronics Co. (CCMP) Receives $115.00 Consensus PT from Brokerages

Cabot Microelectronics Co. (NASDAQ:CCMP) has been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $115.00.

CCMP has been the topic of several recent research reports. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Wednesday, May 2nd. Loop Capital raised their price target on Cabot Microelectronics to $123.00 and gave the stock a “buy” rating in a research report on Tuesday, May 15th. BidaskClub upgraded Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 30th. Finally, ValuEngine lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Friday, August 17th.

Shares of NASDAQ CCMP traded up $2.39 during trading hours on Wednesday, reaching $114.91. 6,292 shares of the stock traded hands, compared to its average volume of 232,728. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 32.17 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 results on Wednesday, July 25th. The semiconductor company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.17. Cabot Microelectronics had a return on equity of 20.40% and a net margin of 15.47%. The business had revenue of $150.40 million for the quarter, compared to analyst estimates of $146.58 million. During the same period last year, the company earned $0.81 EPS. Cabot Microelectronics’s revenue for the quarter was up 17.5% compared to the same quarter last year. sell-side analysts anticipate that Cabot Microelectronics will post 5.09 earnings per share 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 given a dividend of $0.40 per share. The ex-dividend date was Friday, June 22nd. This represents a $1.60 annualized dividend and a yield of 1.39%. Cabot Microelectronics’s payout ratio is 44.94%.

In related 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 transaction of $352,914.88. Following the transaction, the vice president now directly owns 16,803 shares in the company, valued at approximately $1,954,524.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors grew its position 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 buying an additional 857 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Cabot Microelectronics in the 2nd quarter worth approximately $116,000. Citigroup Inc. grew its position in shares of Cabot Microelectronics by 337.4% in the 1st quarter. Citigroup Inc. now owns 1,194 shares of the semiconductor company’s stock worth $128,000 after buying an additional 921 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Cabot Microelectronics in the 1st quarter worth approximately $141,000. Finally, Bruderman Asset Management LLC bought a new stake in shares of Cabot Microelectronics in the 1st quarter worth approximately $155,000. Institutional investors and hedge funds own 95.40% 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.

Featured Story: Price to Earnings Ratio (PE) Basics

Receive News & Ratings for Cabot Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply