Cabot Microelectronics (NASDAQ:CCMP) had its price target boosted by CL King from $150.00 to $153.00 in a report issued on Thursday, The Fly reports. CL King currently has a buy rating on the semiconductor company’s stock.
A number of other brokerages also recently weighed in on CCMP. ValuEngine downgraded shares of Cabot Microelectronics from a hold rating to a sell rating in a research report on Thursday. Cfra lowered their price target on Cabot Microelectronics from $180.00 to $160.00 and set a buy rating on the stock in a research report on Friday, May 8th. BidaskClub upgraded Cabot Microelectronics from a buy rating to a strong-buy rating in a research report on Friday, May 8th. Goldman Sachs Group downgraded Cabot Microelectronics from a neutral rating to a sell rating and upped their target price for the stock from $92.00 to $97.00 in a research note on Wednesday, April 15th. Finally, Zacks Investment Research cut shares of Cabot Microelectronics from a hold rating to a sell rating in a research note on Monday, May 25th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $146.71.
NASDAQ:CCMP opened at $138.76 on Thursday. The firm has a market capitalization of $4.03 billion, a P/E ratio of 19.99 and a beta of 1.26. Cabot Microelectronics has a 1-year low of $85.26 and a 1-year high of $169.13. The company’s fifty day moving average price is $139.19 and its 200-day moving average price is $135.54. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.06 and a quick ratio of 1.58.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.05. Cabot Microelectronics had a return on equity of 20.36% and a net margin of 6.27%. The company had revenue of $284.19 million for the quarter, compared to the consensus estimate of $285.93 million. During the same period last year, the firm earned $1.55 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Cabot Microelectronics will post 6.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.44 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $1.76 annualized dividend and a yield of 1.27%. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 26.19%.
In related news, VP Daniel D. Woodland sold 2,548 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $131.34, for a total transaction of $334,654.32. Following the completion of the sale, the vice president now owns 13,318 shares of the company’s stock, valued at approximately $1,749,186.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA raised its position in shares of Cabot Microelectronics by 2.6% during the 1st quarter. Private Trust Co. NA now owns 4,071 shares of the semiconductor company’s stock valued at $464,000 after buying an additional 104 shares during the period. Amalgamated Bank increased its stake in Cabot Microelectronics by 2.6% during the fourth quarter. Amalgamated Bank now owns 5,522 shares of the semiconductor company’s stock worth $797,000 after acquiring an additional 141 shares during the last quarter. Janus Henderson Group PLC increased its stake in Cabot Microelectronics by 3.0% during the fourth quarter. Janus Henderson Group PLC now owns 5,025 shares of the semiconductor company’s stock worth $725,000 after acquiring an additional 146 shares during the last quarter. Ellevest Inc. raised its position in Cabot Microelectronics by 81.4% in the first quarter. Ellevest Inc. now owns 370 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 166 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Cabot Microelectronics by 0.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 47,956 shares of the semiconductor company’s stock valued at $5,474,000 after purchasing an additional 188 shares during the last quarter. 99.00% of the stock is currently owned by institutional investors.
Cabot Microelectronics Company Profile
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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