Zacks Investment Research cut shares of Cabot Microelectronics (NASDAQ:CCMP) from a strong-buy rating to a hold rating in a report released on Monday, January 1st.
According to Zacks, “Cabot Microelectronics Corporation is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. The company’s products play a critical role in the production of the most advanced semiconductor devices, enabling the manufacture of smaller, faster and more complex devices by its customers. Cabot Microelectronics has demonstrated consistent, steady growth and is the leader in the CMP Industry, as well as part of the dynamic, high-growth Consumer Electronics Industry, enabling the manufacture of leading edge devices in on of the most innovative industries in the world. “
A number of other equities analysts also recently commented on the company. BidaskClub downgraded Cabot Microelectronics from a buy rating to a hold rating in a research note on Tuesday, December 12th. Loop Capital lifted their target price on Cabot Microelectronics from $94.00 to $108.00 and gave the company a buy rating in a research note on Friday, October 27th. Citigroup lifted their target price on Cabot Microelectronics from $80.00 to $94.00 and gave the company a neutral rating in a research note on Friday, October 27th. Needham & Company LLC restated a buy rating and issued a $85.00 target price on shares of Cabot Microelectronics in a research note on Tuesday, September 19th. Finally, Seaport Global Securities initiated coverage on Cabot Microelectronics in a research note on Wednesday, September 6th. They issued a buy rating for the company. 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 an average target price of $99.75.
Shares of Cabot Microelectronics (NASDAQ CCMP) opened at $102.79 on Monday. The company has a quick ratio of 5.25, a current ratio of 6.04 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2,600.00, a PE ratio of 30.41 and a beta of 1.43. Cabot Microelectronics has a fifty-two week low of $63.09 and a fifty-two week high of $102.92.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.20. The firm had revenue of $136.80 million during the quarter, compared to analyst estimates of $132.18 million. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. Cabot Microelectronics’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. equities analysts anticipate that Cabot Microelectronics will post 4.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 22nd will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.78%. Cabot Microelectronics’s payout ratio is currently 23.67%.
In other news, VP Bernstein H. Carol Eckstein sold 905 shares of the business’s 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 in the company, valued at $4,978,551. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Lisa A. Polezoes sold 5,745 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $102.08, for a total value of $586,449.60. Following the transaction, the vice president now owns 9,694 shares of the company’s stock, valued at $989,563.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,699 shares of company stock valued at $7,111,751. 5.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Riverhead Capital Management LLC lifted its position in Cabot Microelectronics by 88.8% in the second quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 799 shares during the period. Ameritas Investment Partners Inc. lifted its position in Cabot Microelectronics by 17.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 324 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Cabot Microelectronics by 87.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,246 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 1,048 shares during the period. Advisor Group Inc. lifted its position in Cabot Microelectronics by 4.5% in the second quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock worth $172,000 after purchasing an additional 100 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Cabot Microelectronics by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 93.08% of the company’s stock.
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Cabot Microelectronics Company Profile
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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