Cabot Microelectronics (NASDAQ:CCMP) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Friday.
Several other analysts have also issued reports on CCMP. Zacks Investment Research lowered Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday. Loop Capital assumed coverage on Cabot Microelectronics in a report on Thursday, September 28th. They set a “buy” rating and a $94.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price on shares of Cabot Microelectronics in a report on Tuesday, September 19th. Finally, Citigroup upped their price objective on Cabot Microelectronics from $80.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $99.75.
Shares of Cabot Microelectronics (CCMP) opened at $97.31 on Friday. Cabot Microelectronics has a twelve month low of $62.57 and a twelve month high of $102.92. The stock has a market capitalization of $2,452.01, a PE ratio of 28.71 and a beta of 1.43. The company has a current ratio of 6.04, a quick ratio of 5.25 and a debt-to-equity ratio of 0.22.
Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.20. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. Cabot Microelectronics’s revenue was up 11.5% on a year-over-year basis. analysts expect that Cabot Microelectronics will post 4.14 EPS for the current fiscal year.
In other Cabot Microelectronics news, Director Richard Hill sold 15,638 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $94.58, for a total value of $1,479,042.04. Following the sale, the director now owns 15,104 shares in the company, valued at $1,428,536.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William S. Johnson sold 17,594 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $96.38, for a total value of $1,695,709.72. Following the completion of the sale, the insider now owns 100,699 shares in the company, valued at approximately $9,705,369.62. The disclosure for this sale can be found here. Insiders sold 73,699 shares of company stock worth $7,111,751 in the last 90 days. Corporate insiders own 5.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Cabot Microelectronics by 6.5% in the second quarter. BlackRock Inc. now owns 3,146,531 shares of the semiconductor company’s stock valued at $232,307,000 after purchasing an additional 193,272 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Cabot Microelectronics by 7.3% in the second quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock valued at $173,886,000 after purchasing an additional 160,668 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Cabot Microelectronics by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 1,882,237 shares of the semiconductor company’s stock valued at $147,623,000 after purchasing an additional 24,159 shares during the last quarter. Earnest Partners LLC grew its position in shares of Cabot Microelectronics by 1.4% in the third quarter. Earnest Partners LLC now owns 1,288,634 shares of the semiconductor company’s stock valued at $103,001,000 after purchasing an additional 18,153 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Cabot Microelectronics by 97.2% in the third quarter. Neuberger Berman Group LLC now owns 986,513 shares of the semiconductor company’s stock valued at $78,852,000 after purchasing an additional 486,275 shares during the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.
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