Cabot Microelectronics Co. (NASDAQ:CCMP) – Research analysts at Seaport Global Securities boosted their Q2 2018 EPS estimates for Cabot Microelectronics in a research report issued on Monday. Seaport Global Securities analyst M. Harrison now expects that the semiconductor company will earn $1.05 per share for the quarter, up from their previous estimate of $0.95. Seaport Global Securities has a “Buy” rating and a $112.00 price objective on the stock. Seaport Global Securities also issued estimates for Cabot Microelectronics’ Q3 2018 earnings at $1.16 EPS, Q4 2018 earnings at $1.31 EPS, Q1 2019 earnings at $1.36 EPS, Q2 2019 earnings at $1.23 EPS, Q3 2019 earnings at $1.36 EPS and Q4 2019 earnings at $1.49 EPS.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective for the company in a research report on Tuesday, November 7th. BidaskClub cut Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Loop Capital increased their price objective on Cabot Microelectronics from $94.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Citigroup increased their price objective on Cabot Microelectronics from $80.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective (up from $110.00) on shares of Cabot Microelectronics in a research report on Friday, January 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $110.00.
Cabot Microelectronics (NASDAQ:CCMP) traded up $0.80 during trading on Wednesday, reaching $102.80. The company’s stock had a trading volume of 11,473 shares, compared to its average volume of 178,382. Cabot Microelectronics has a 52 week low of $66.58 and a 52 week high of $105.69. The company has a quick ratio of 5.71, a current ratio of 6.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2,593.43, a PE ratio of 26.51 and a beta of 1.43.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The company had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $137.90 million. During the same period last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Friday, December 22nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, December 21st. Cabot Microelectronics’s dividend payout ratio (DPR) is 33.47%.
In other news, VP Bernstein H. Carol Eckstein sold 905 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $91.94, for a total transaction of $83,205.70. Following the completion of the transaction, the vice president now directly owns 54,150 shares of the company’s stock, valued at approximately $4,978,551. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Yumiko Damashek sold 7,183 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $97.45, for a total value of $699,983.35. Following the transaction, the vice president now directly owns 37,303 shares of the company’s stock, valued at $3,635,177.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,542 shares of company stock valued at $3,658,744. Company insiders own 3.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCMP. Riverhead Capital Management LLC increased its stake in Cabot Microelectronics by 88.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 799 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Cabot Microelectronics by 17.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 123,281 shares of the semiconductor company’s stock valued at $9,102,000 after purchasing an additional 17,969 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Cabot Microelectronics by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 152,257 shares of the semiconductor company’s stock valued at $11,240,000 after purchasing an additional 1,708 shares in the last quarter. BlackRock Inc. increased its stake in Cabot Microelectronics by 6.5% in the 2nd 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 in the last quarter. Finally, Amalgamated Bank increased its stake in Cabot Microelectronics by 12.1% in the 2nd quarter. Amalgamated Bank now owns 3,573 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 386 shares in the last quarter. 93.12% of the stock is owned by hedge funds and other institutional investors.
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About Cabot Microelectronics
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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