Cabot Microelectronics (NASDAQ:CCMP) had its price target lifted by Loop Capital from $108.00 to $112.00 in a research report report published on Friday. The brokerage currently has a buy rating on the semiconductor company’s stock.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Cabot Microelectronics from a hold rating to a strong-buy rating and set a $112.00 price target on the stock in a research note on Tuesday, November 7th. BidaskClub downgraded Cabot Microelectronics from a buy rating to a hold rating in a research note on Tuesday, December 12th. Citigroup boosted their price target on Cabot Microelectronics from $80.00 to $94.00 and gave the company a neutral rating in a research note on Friday, October 27th. Finally, Needham & Company LLC reiterated a buy rating and set a $120.00 price target (up previously from $110.00) on shares of Cabot Microelectronics in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $109.50.
Cabot Microelectronics (CCMP) opened at $101.87 on Friday. Cabot Microelectronics has a 1 year low of $66.58 and a 1 year high of $105.69. The stock has a market capitalization of $2,622.03, a PE ratio of 42.62 and a beta of 1.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.25 and a current ratio of 6.53.
Cabot Microelectronics (NASDAQ:CCMP) last announced its earnings results on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.17. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The company had revenue of $140.00 million for the quarter, compared to analyst estimates of $137.90 million. During the same period in the prior year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. equities analysts predict that Cabot Microelectronics will post 4.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.80 annualized dividend and a yield of 0.79%. Cabot Microelectronics’s payout ratio is presently 33.47%.
In other news, insider Thomas S. Roman sold 2,350 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $99.20, for a total value of $233,120.00. Following the sale, the insider now owns 10,753 shares in the company, valued at $1,066,697.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Yumiko Damashek sold 1,550 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $96.42, for a total value of $149,451.00. Following the completion of the sale, the vice president now owns 30,120 shares in the company, valued at approximately $2,904,170.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,136 shares of company stock worth $5,354,454. Company insiders own 5.50% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Cabot Microelectronics in the fourth quarter worth about $5,884,000. APG Asset Management N.V. boosted its stake in shares of Cabot Microelectronics by 13.4% in the fourth quarter. APG Asset Management N.V. now owns 35,500 shares of the semiconductor company’s stock worth $2,781,000 after buying an additional 4,200 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Cabot Microelectronics by 19.0% in the fourth quarter. Fisher Asset Management LLC now owns 67,098 shares of the semiconductor company’s stock worth $6,313,000 after buying an additional 10,731 shares during the last quarter. Narwhal Capital Management boosted its stake in shares of Cabot Microelectronics by 4.2% in the fourth quarter. Narwhal Capital Management now owns 38,335 shares of the semiconductor company’s stock worth $3,607,000 after buying an additional 1,550 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Cabot Microelectronics by 40.8% in the fourth quarter. GW&K Investment Management LLC now owns 60,177 shares of the semiconductor company’s stock worth $5,661,000 after buying an additional 17,438 shares during the last quarter. Hedge funds and other institutional investors own 93.12% 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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