Cabot Microelectronics Corporation (NASDAQ:CCMP) issued its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20, Bloomberg Earnings reports. The business had revenue of $136.80 million during the quarter, compared to the consensus estimate of $132.18 million. Cabot Microelectronics Corporation had a net margin of 17.10% and a return on equity of 16.27%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share.
Cabot Microelectronics Corporation (NASDAQ:CCMP) traded up $0.34 during trading on Friday, reaching $97.14. 182,100 shares of the company were exchanged, compared to its average volume of 179,421. 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 Corporation has a 52-week low of $56.42 and a 52-week high of $98.94. The stock has a market capitalization of $2,449.63, a P/E ratio of 27.19 and a beta of 1.43.
The business also recently announced a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Monday, September 25th were issued a $0.20 dividend. The ex-dividend date was Friday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.82%. Cabot Microelectronics Corporation’s payout ratio is 23.60%.
In other Cabot Microelectronics Corporation news, Director Richard Hill sold 15,638 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $94.58, for a total transaction of $1,479,042.04. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $1,428,536.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William S. Johnson sold 17,594 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $96.38, for a total transaction of $1,695,709.72. Following the sale, the insider now owns 100,699 shares of the company’s stock, valued at $9,705,369.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,707 shares of company stock valued at $3,602,458. 5.50% of the stock is owned by insiders.
CCMP has been the subject of a number of recent research reports. BidaskClub downgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Loop Capital boosted their target price on shares of Cabot Microelectronics Corporation from $94.00 to $108.00 and gave the company a “buy” rating in a report on Friday, October 27th. Citigroup Inc. boosted their target price on shares of Cabot Microelectronics Corporation from $80.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “strong-buy” rating and set a $112.00 target price for the company in a report on Tuesday. Finally, Seaport Global Securities started coverage on shares of Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cabot Microelectronics Corporation presently has a consensus rating of “Buy” and an average target price of $99.75.
WARNING: “Cabot Microelectronics Corporation (CCMP) Posts Earnings Results, Beats Estimates By $0.20 EPS” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.dispatchtribunal.com/2017/11/12/cabot-microelectronics-corporation-ccmp-announces-quarterly-earnings-results-beats-estimates-by-0-20-eps.html.
About Cabot Microelectronics Corporation
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.
Receive News & Ratings for Cabot Microelectronics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Microelectronics Corporation and related companies with MarketBeat.com's FREE daily email newsletter.