Zacks Investment Research upgraded shares of Cabot Microelectronics (NASDAQ:CCMP) from a hold rating to a buy rating in a research report released on Thursday. They currently have $114.00 price objective on the semiconductor company’s stock.
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. “
Several other equities analysts have also issued reports on the company. BidaskClub lowered Cabot Microelectronics from a buy rating to a hold rating in a research report on Tuesday, December 12th. Loop Capital boosted their price objective on Cabot Microelectronics from $94.00 to $108.00 and gave the company a buy rating in a research report on Friday, October 27th. Citigroup boosted their price objective on Cabot Microelectronics from $80.00 to $94.00 and gave the company a neutral rating in a research report on Friday, October 27th. Needham & Company LLC reiterated a buy rating and issued a $120.00 price objective (up from $110.00) on shares of Cabot Microelectronics in a research report on Friday, January 26th. Finally, Seaport Global Securities reiterated a buy rating and issued a $112.00 price objective on shares of Cabot Microelectronics in a research report on Monday, January 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $110.40.
Cabot Microelectronics (CCMP) opened at $100.42 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.53 and a quick ratio of 5.71. Cabot Microelectronics has a 12-month low of $66.69 and a 12-month high of $105.69. The stock has a market capitalization of $2,564.83, a P/E ratio of 26.22 and a beta of 1.46.
Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data 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 business had revenue of $140.00 million during the quarter, compared to analyst estimates of $137.90 million. During the same period in the previous year, the firm earned $0.92 EPS. Cabot Microelectronics’s quarterly revenue was up 13.5% compared to the same quarter last year. research analysts anticipate that Cabot Microelectronics will post 4.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Friday, December 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, December 21st. Cabot Microelectronics’s dividend payout ratio (DPR) is currently 33.47%.
In other Cabot Microelectronics news, VP Bernstein H. Carol Eckstein sold 19,425 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.51, for a total transaction of $1,971,831.75. Following the completion of the transaction, the vice president now owns 57,487 shares of the company’s stock, valued at approximately $5,835,505.37. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Yumiko Damashek sold 817 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $97.58, for a total value of $79,722.86. Following the transaction, the vice president now directly owns 30,120 shares of the company’s stock, valued at approximately $2,939,109.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,417 shares of company stock valued at $5,481,125. Insiders own 3.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Aperio Group LLC raised its stake in shares of Cabot Microelectronics by 7.8% during the 4th quarter. Aperio Group LLC now owns 8,158 shares of the semiconductor company’s stock worth $768,000 after purchasing an additional 587 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Cabot Microelectronics by 23.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 23,639 shares of the semiconductor company’s stock worth $2,224,000 after purchasing an additional 4,473 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Cabot Microelectronics during the 4th quarter worth approximately $1,515,000. Assenagon Asset Management S.A. bought a new stake in shares of Cabot Microelectronics during the 4th quarter worth approximately $5,884,000. Finally, APG Asset Management N.V. raised its stake in shares of Cabot Microelectronics by 13.4% during the 4th quarter. APG Asset Management N.V. now owns 35,500 shares of the semiconductor company’s stock worth $2,781,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors own 93.12% of the company’s stock.
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About Cabot Microelectronics
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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