CL King started coverage on shares of Cabot Microelectronics (NASDAQ:CCMP) in a research report report published on Monday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $125.00 price target on the semiconductor company’s stock.
Several other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of HANNOVER RUECK/S from a sell rating to a hold rating in a report on Friday, May 17th. Goldman Sachs Group reiterated a hold rating and issued a $8.40 target price on shares of Deutsche Bank in a report on Monday. Finally, BidaskClub cut shares of Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Cabot Microelectronics currently has a consensus rating of Hold and an average price target of $129.20.
Shares of CCMP traded down $0.03 during midday trading on Monday, hitting $110.91. The stock had a trading volume of 154,400 shares, compared to its average volume of 262,123. Cabot Microelectronics has a fifty-two week low of $82.24 and a fifty-two week high of $129.94. The stock’s 50-day moving average price is $106.01. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 21.26 and a beta of 1.41. The company has a current ratio of 3.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.96.
Cabot Microelectronics (NASDAQ:CCMP) last announced its earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.06). Cabot Microelectronics had a return on equity of 20.79% and a net margin of 15.61%. The firm had revenue of $265.39 million during the quarter, compared to analyst estimates of $273.30 million. On average, equities analysts anticipate that Cabot Microelectronics will post 6.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Tuesday, June 25th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, June 24th. Cabot Microelectronics’s dividend payout ratio (DPR) is 32.18%.
In other news, Director Barbara A. Klein sold 3,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $108.28, for a total value of $324,840.00. Following the completion of the sale, the director now directly owns 26,104 shares of the company’s stock, valued at $2,826,541.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Connable Office Inc. lifted its position in shares of Cabot Microelectronics by 2.3% in the first quarter. Connable Office Inc. now owns 4,121 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 91 shares in the last quarter. Private Capital Group LLC raised its position in Cabot Microelectronics by 24.7% during the first quarter. Private Capital Group LLC now owns 474 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 94 shares in the last quarter. Two Sigma Investments LP raised its position in Cabot Microelectronics by 0.3% during the fourth quarter. Two Sigma Investments LP now owns 35,263 shares of the semiconductor company’s stock valued at $3,362,000 after acquiring an additional 104 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Cabot Microelectronics by 1.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,938 shares of the semiconductor company’s stock valued at $1,113,000 after acquiring an additional 113 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Cabot Microelectronics by 1.7% during the first quarter. State of Alaska Department of Revenue now owns 9,757 shares of the semiconductor company’s stock valued at $1,092,000 after acquiring an additional 165 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.
About Cabot Microelectronics
Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.
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