BidaskClub upgraded shares of Cabot Microelectronics (NASDAQ:CCMP) from a hold rating to a buy rating in a research note published on Thursday morning.
A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Cabot Microelectronics from a sell rating to a hold rating in a research report on Thursday, January 24th. Buckingham Research started coverage on shares of Cabot Microelectronics in a research report on Thursday, November 29th. They issued a buy rating and a $130.00 price target for the company. Finally, Loop Capital set a $123.00 price target on shares of Cabot Microelectronics and gave the company a buy rating in a research report on Thursday, November 29th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $124.33.
Shares of Cabot Microelectronics stock traded up $0.46 during trading on Thursday, hitting $113.56. 6,956 shares of the stock were exchanged, compared to its average volume of 293,100. Cabot Microelectronics has a 12-month low of $82.24 and a 12-month high of $123.76. The stock has a market cap of $3.08 billion, a P/E ratio of 21.70 and a beta of 1.17. The company has a current ratio of 3.18, a quick ratio of 2.34 and a debt-to-equity ratio of 1.03.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.47. Cabot Microelectronics had a net margin of 18.83% and a return on equity of 21.57%. The firm had revenue of $221.80 million during the quarter, compared to analysts’ expectations of $217.90 million. During the same period in the previous year, the company earned $1.19 earnings per share. Cabot Microelectronics’s quarterly revenue was up 58.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cabot Microelectronics will post 7.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Shareholders of record on Friday, December 21st were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, December 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.41%. Cabot Microelectronics’s dividend payout ratio is presently 30.65%.
In other Cabot Microelectronics news, VP Ananth Naman sold 7,539 shares of Cabot Microelectronics stock in a transaction on Monday, December 10th. The shares were sold at an average price of $97.08, for a total value of $731,886.12. Following the transaction, the vice president now directly owns 13,230 shares in the company, valued at $1,284,368.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jeffrey Michael Dysard sold 3,133 shares of Cabot Microelectronics stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $104.88, for a total transaction of $328,589.04. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CCMP. Advisors Asset Management Inc. increased its stake in Cabot Microelectronics by 86.4% in the second quarter. Advisors Asset Management Inc. now owns 4,681 shares of the semiconductor company’s stock valued at $503,000 after purchasing an additional 2,170 shares during the period. First Quadrant L P CA acquired a new position in Cabot Microelectronics in the third quarter valued at $139,000. Russell Investments Group Ltd. increased its stake in Cabot Microelectronics by 12.4% in the third quarter. Russell Investments Group Ltd. now owns 87,045 shares of the semiconductor company’s stock valued at $8,977,000 after purchasing an additional 9,635 shares during the period. OLD National Bancorp IN acquired a new position in Cabot Microelectronics in the third quarter valued at $266,000. Finally, USA Financial Portformulas Corp acquired a new position in Cabot Microelectronics in the third quarter valued at $318,000. Institutional investors own 89.97% 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 chemical mechanical planarization (CMP) process. It provides CMP slurries, which are liquid solutions composed of high-purity deionized water, proprietary chemical additives, and engineered abrasives that chemically and mechanically interact with the surface material of the IC device at an atomic level; and CMP pads that are engineered polymeric materials designed to distribute and transport the slurry to the surface of the wafer and distribute it evenly across the wafer.
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