Cabot Microelectronics (NASDAQ:CCMP) Price Target Raised to $150.00

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Cabot Microelectronics (NASDAQ:CCMP) had its price objective hoisted by Buckingham Research from $130.00 to $150.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a buy rating on the semiconductor company’s stock.

CCMP has been the subject of a number of other reports. Seaport Global Securities restated a buy rating on shares of Cabot Microelectronics in a report on Wednesday, August 7th. BidaskClub upgraded Cabot Microelectronics from a hold rating to a buy rating in a report on Thursday, September 5th. Zacks Investment Research downgraded Cabot Microelectronics from a hold rating to a sell rating in a report on Wednesday, August 14th. CL King initiated coverage on Cabot Microelectronics in a report on Monday, July 8th. They issued a buy rating and a $125.00 price objective for the company. Finally, Goldman Sachs Group initiated coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They set a buy rating and a $148.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $133.20.

NASDAQ CCMP opened at $138.22 on Thursday. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 26.48 and a beta of 1.37. Cabot Microelectronics has a twelve month low of $82.24 and a twelve month high of $140.62. The stock has a fifty day simple moving average of $122.14 and a 200 day simple moving average of $114.83. The company has a quick ratio of 2.12, a current ratio of 3.06 and a debt-to-equity ratio of 0.91.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.01). The company had revenue of $271.88 million during the quarter, compared to analyst estimates of $266.80 million. Cabot Microelectronics had a net margin of 11.76% and a return on equity of 21.77%. Research analysts expect that Cabot Microelectronics will post 6.68 earnings per share for the current fiscal year.

In other Cabot Microelectronics news, Director Barbara A. Klein sold 5,196 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $123.38, for a total transaction of $641,082.48. Following the sale, the director now owns 34,808 shares of the company’s stock, valued at $4,294,611.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David H. Li sold 27,425 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $114.28, for a total transaction of $3,134,129.00. Following the sale, the insider now directly owns 78,683 shares in the company, valued at approximately $8,991,893.24. The disclosure for this sale can be found here. Insiders have sold 35,758 shares of company stock worth $4,133,175 in the last ninety days. Insiders own 2.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Connable Office Inc. boosted its position in shares of Cabot Microelectronics by 2.3% during the 1st 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Cabot Microelectronics by 1.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,938 shares of the semiconductor company’s stock worth $1,113,000 after purchasing an additional 113 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Cabot Microelectronics by 1.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,891 shares of the semiconductor company’s stock worth $1,088,000 after purchasing an additional 134 shares in the last quarter. Huntington National Bank boosted its position in shares of Cabot Microelectronics by 81.1% during the 2nd quarter. Huntington National Bank now owns 306 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 137 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Cabot Microelectronics by 5.9% during the 2nd quarter. MML Investors Services LLC now owns 2,785 shares of the semiconductor company’s stock worth $307,000 after purchasing an additional 156 shares in the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Cabot Microelectronics Company Profile

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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Analyst Recommendations for Cabot Microelectronics (NASDAQ:CCMP)

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