Cabot Microelectronics Co. (NASDAQ:CCMP) declared a quarterly dividend on Monday, March 5th, RTT News reports. Stockholders of record on Friday, March 23rd will be given a dividend of 0.40 per share by the semiconductor company on Monday, April 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Thursday, March 22nd. This is a boost from Cabot Microelectronics’s previous quarterly dividend of $0.20.
Shares of CCMP traded down $2.10 during midday trading on Friday, reaching $103.86. 96,526 shares of the stock were exchanged, compared to its average volume of 161,645. The company has a current ratio of 6.53, a quick ratio of 5.71 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2,659.75, a price-to-earnings ratio of 29.17 and a beta of 1.37. Cabot Microelectronics has a 52 week low of $68.00 and a 52 week high of $115.94.
Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $137.90 million. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. equities research analysts predict that Cabot Microelectronics will post 4.71 EPS for the current year.
In other Cabot Microelectronics news, Director Richard Hill sold 1,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $113.21, for a total value of $113,210.00. Following the completion of the sale, the director now directly owns 9,011 shares in the company, valued at $1,020,135.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William P. Noglows sold 17,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $98.86, for a total value of $1,680,620.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,236 shares of company stock valued at $7,247,782. 3.30% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on CCMP. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective (up from $110.00) on shares of Cabot Microelectronics in a research note on Friday, January 26th. ValuEngine upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research cut Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 2nd. BidaskClub cut Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Seaport Global Securities restated a “buy” rating and set a $112.00 price objective on shares of Cabot Microelectronics in a research note on Monday, January 29th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $110.40.
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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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