Cabot Microelectronics Corporation (NASDAQ:CCMP) had its price objective upped by stock analysts at Loop Capital from $94.00 to $108.00 in a note issued to investors on Friday, October 27th. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Loop Capital’s price target would indicate a potential upside of 10.31% from the company’s current price.
CCMP has been the subject of several other research reports. Zacks Investment Research lowered shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. BidaskClub downgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Needham & Company LLC reissued a “buy” rating and set a $85.00 target price on shares of Cabot Microelectronics Corporation in a research report on Tuesday, September 19th. Citigroup Inc. increased their target price on shares of Cabot Microelectronics Corporation from $80.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Seaport Global Securities assumed coverage on shares of Cabot Microelectronics Corporation in a research report on Wednesday, September 6th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $99.75.
Shares of Cabot Microelectronics Corporation (NASDAQ CCMP) traded up $0.77 during mid-day trading on Friday, reaching $97.91. 254,500 shares of the company traded hands, compared to its average volume of 179,764. Cabot Microelectronics Corporation has a 12-month low of $56.42 and a 12-month high of $98.94. The company has a quick ratio of 5.25, a current ratio of 6.04 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2,460.00, a P/E ratio of 27.29 and a beta of 1.43.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics Corporation had a net margin of 17.10% and a return on equity of 16.27%. The company had revenue of $136.80 million during the quarter, compared to the consensus estimate of $132.18 million. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. sell-side analysts predict that Cabot Microelectronics Corporation will post 4.02 EPS for the current year.
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In related news, Director Richard Hill sold 15,638 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $94.58, for a total transaction of $1,479,042.04. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $1,428,536.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Yumiko Damashek sold 1,550 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $96.42, for a total value of $149,451.00. Following the transaction, the vice president now directly owns 30,120 shares of the company’s stock, valued at approximately $2,904,170.40. The disclosure for this sale can be found here. Insiders have sold 37,707 shares of company stock worth $3,602,458 over the last three months. Corporate insiders own 5.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CCMP. Cubist Systematic Strategies LLC grew its stake in shares of Cabot Microelectronics Corporation by 119.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 7,171 shares of the semiconductor company’s stock valued at $529,000 after buying an additional 3,909 shares during the period. Advisors Preferred LLC purchased a new stake in shares of Cabot Microelectronics Corporation in the 3rd quarter worth about $318,000. Eagle Asset Management Inc. boosted its position in shares of Cabot Microelectronics Corporation by 254.9% in the 2nd quarter. Eagle Asset Management Inc. now owns 146,483 shares of the semiconductor company’s stock worth $10,814,000 after buying an additional 105,214 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cabot Microelectronics Corporation by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock worth $168,125,000 after buying an additional 154,495 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Cabot Microelectronics Corporation by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock valued at $971,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.
Cabot Microelectronics Corporation 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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