Cabot Microelectronics Co. (CCMP) Receives $109.50 Average Target Price from Analysts

Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) have earned an average rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $109.50.

A number of analysts have recently issued reports on CCMP shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target (up from $110.00) on shares of Cabot Microelectronics in a research note 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 note on Thursday, February 1st. Seaport Global Securities reaffirmed a “buy” rating and issued a $112.00 price target on shares of Cabot Microelectronics in a research note on Monday, January 29th. Loop Capital lifted their price target on Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, ValuEngine raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd.

CCMP traded down $1.03 during trading on Thursday, hitting $104.32. The company’s stock had a trading volume of 153,794 shares, compared to its average volume of 127,644. The company has a current ratio of 6.53, a quick ratio of 5.71 and a debt-to-equity ratio of 0.21. Cabot Microelectronics has a twelve month low of $68.00 and a twelve month high of $115.94. The firm has a market cap of $2,671.53, a P/E ratio of 27.24 and a beta of 1.37.

Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The company had revenue of $140.00 million for the quarter, compared to analyst estimates of $137.90 million. During the same period last year, the company earned $0.92 earnings per share. Cabot Microelectronics’s quarterly revenue was up 13.5% compared to the same quarter last year. equities research analysts forecast that Cabot Microelectronics will post 4.71 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 23rd will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 22nd. This is a positive change from Cabot Microelectronics’s previous quarterly dividend of $0.20. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.53%. Cabot Microelectronics’s payout ratio is currently 44.94%.

In other Cabot Microelectronics news, VP Bernstein H. Carol Eckstein sold 19,425 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.51, for a total transaction of $1,971,831.75. Following the transaction, the vice president now owns 57,487 shares of the company’s stock, valued at $5,835,505.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William P. Noglows sold 17,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $98.86, for a total value of $1,680,620.00. The disclosure for this sale can be found here. Insiders sold 70,236 shares of company stock worth $7,247,782 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Narwhal Capital Management boosted its stake in Cabot Microelectronics by 4.2% during the fourth quarter. Narwhal Capital Management now owns 38,335 shares of the semiconductor company’s stock worth $3,607,000 after buying an additional 1,550 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Cabot Microelectronics by 9.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 255,884 shares of the semiconductor company’s stock valued at $24,073,000 after buying an additional 21,526 shares during the period. Swiss National Bank raised its holdings in shares of Cabot Microelectronics by 3.4% in the 4th quarter. Swiss National Bank now owns 43,100 shares of the semiconductor company’s stock valued at $4,055,000 after buying an additional 1,400 shares during the period. Aperio Group LLC raised its holdings in shares of Cabot Microelectronics by 7.8% in the 4th quarter. Aperio Group LLC now owns 8,158 shares of the semiconductor company’s stock valued at $768,000 after buying an additional 587 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Cabot Microelectronics by 28.6% in the 4th quarter. Renaissance Technologies LLC now owns 988,917 shares of the semiconductor company’s stock valued at $93,037,000 after buying an additional 219,708 shares during the period. 95.15% of the stock is currently owned by institutional investors.

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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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