Cabot Microelectronics Corporation (CCMP) Posts Earnings Results, Beats Estimates By $0.20 EPS

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.

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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.

Earnings History for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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