Cabot Microelectronics (CCMP) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Cabot Microelectronics (NASDAQ:CCMP) from a hold rating to a buy rating in a research note published on Friday morning.

A number of other equities research analysts have also issued reports on CCMP. Needham & Company LLC reaffirmed a buy rating and set a $85.00 target price on shares of Cabot Microelectronics in a research report on Tuesday, September 19th. Zacks Investment Research raised Cabot Microelectronics from a sell rating to a hold rating in a research report on Friday, September 22nd. Loop Capital initiated coverage on Cabot Microelectronics in a research report on Thursday, September 28th. They set a buy rating and a $94.00 target price on the stock. Finally, Citigroup boosted their target price on Cabot Microelectronics from $80.00 to $94.00 and gave the stock a neutral rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $99.75.

Cabot Microelectronics (CCMP) traded up $0.72 on Friday, hitting $98.03. The stock had a trading volume of 139,900 shares, compared to its average volume of 140,900. Cabot Microelectronics has a 12 month low of $62.57 and a 12 month high of $102.92. 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 company has a market cap of $2,485.74, a P/E ratio of 28.92 and a beta of 1.43.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. The company had revenue of $136.80 million for the quarter, compared to the consensus estimate of $132.18 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts expect that Cabot Microelectronics will post 4.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Thursday, December 21st. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 23.60%.

In other news, insider William S. Johnson sold 17,594 shares of Cabot Microelectronics stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $96.38, for a total transaction of $1,695,709.72. Following the transaction, the insider now owns 100,699 shares in the company, valued at $9,705,369.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Hill sold 15,638 shares of Cabot Microelectronics stock in a transaction on Monday, October 30th. The shares were sold at an average price of $94.58, for a total value of $1,479,042.04. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $1,428,536.32. The disclosure for this sale can be found here. Insiders have sold 73,699 shares of company stock worth $7,111,751 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC grew its holdings in shares of Cabot Microelectronics by 119.8% during the second 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 in the last quarter. Advisors Preferred LLC purchased a new position in Cabot Microelectronics in the third quarter valued at about $318,000. Schwab Charles Investment Management Inc. grew its stake in Cabot Microelectronics by 15.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 184,108 shares of the semiconductor company’s stock valued at $13,593,000 after purchasing an additional 24,225 shares in the last quarter. Capital Fund Management S.A. purchased a new position in Cabot Microelectronics in the second quarter valued at about $2,451,000. Finally, BNP Paribas Arbitrage SA grew its stake in Cabot Microelectronics by 41.9% in the third quarter. BNP Paribas Arbitrage SA now owns 14,150 shares of the semiconductor company’s stock valued at $1,131,000 after purchasing an additional 4,177 shares in the last quarter. Institutional investors and hedge funds own 93.08% of the company’s stock.

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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.

Analyst Recommendations for Cabot Microelectronics (NASDAQ:CCMP)

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