Cabot Microelectronics Co. (NASDAQ:CCMP) – Equities researchers at Seaport Global Securities boosted their Q3 2018 earnings per share estimates for Cabot Microelectronics in a research report issued on Monday, April 30th. Seaport Global Securities analyst M. Harrison now anticipates that the semiconductor company will earn $1.21 per share for the quarter, up from their previous forecast of $1.16. Seaport Global Securities has a “Buy” rating and a $112.00 price objective on the stock. Seaport Global Securities also issued estimates for Cabot Microelectronics’ Q4 2018 earnings at $1.32 EPS, FY2018 earnings at $4.91 EPS, Q2 2019 earnings at $1.29 EPS, Q3 2019 earnings at $1.41 EPS and FY2019 earnings at $5.54 EPS.
Cabot Microelectronics (NASDAQ:CCMP) last announced its earnings results on Thursday, April 26th. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.14. Cabot Microelectronics had a return on equity of 18.41% and a net margin of 13.33%. The business had revenue of $143.00 million for the quarter, compared to analyst estimates of $140.15 million. During the same quarter last year, the firm earned $0.76 EPS. Cabot Microelectronics’s revenue for the quarter was up 20.0% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on CCMP. BidaskClub raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 target price (up previously from $110.00) on shares of Cabot Microelectronics in a research report on Friday, January 26th. Loop Capital lifted their target price on Cabot Microelectronics from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Thursday, February 1st. Finally, ValuEngine raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $110.80.
Shares of Cabot Microelectronics stock opened at $104.86 on Wednesday. Cabot Microelectronics has a 52-week low of $68.00 and a 52-week high of $115.94. The company has a market capitalization of $2,655.66, a P/E ratio of 29.46 and a beta of 1.39. The company has a current ratio of 6.73, a quick ratio of 5.91 and a debt-to-equity ratio of 0.20.
Several hedge funds have recently bought and sold shares of CCMP. Advisors Preferred LLC acquired a new position in shares of Cabot Microelectronics during the 1st quarter worth approximately $141,000. LS Investment Advisors LLC increased its holdings in shares of Cabot Microelectronics by 93.4% during the 4th quarter. LS Investment Advisors LLC now owns 1,663 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 803 shares during the last quarter. Schroder Investment Management Group acquired a new position in shares of Cabot Microelectronics during the 4th quarter worth approximately $198,000. Shelton Capital Management acquired a new position in shares of Cabot Microelectronics during the 4th quarter worth approximately $214,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Cabot Microelectronics during the 4th quarter worth approximately $236,000. 95.32% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Richard Hill sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $113.21, for a total transaction of $113,210.00. Following the transaction, the director now directly owns 9,011 shares of the company’s stock, valued at approximately $1,020,135.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bernstein H. Carol Eckstein sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $112.34, for a total value of $505,530.00. Following the transaction, the vice president now directly owns 48,912 shares in the company, valued at $5,494,774.08. The disclosure for this sale can be found here. Insiders have sold a total of 33,811 shares of company stock worth $3,539,741 in the last ninety days. Insiders own 3.30% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Friday, March 23rd were given a dividend of $0.40 per share. This is a positive change from Cabot Microelectronics’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. Cabot Microelectronics’s payout ratio is 44.94%.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers.
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