Cabot Microelectronics Co. (CCMP) Given Average Recommendation of “Buy” by Analysts

Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) have earned a consensus rating of “Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $117.00.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $119.00 target price on the stock in a research report on Monday, November 5th. BidaskClub lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Loop Capital set a $117.00 price objective on Cabot Microelectronics and gave the company a “buy” rating in a report on Monday, August 20th. They noted that the move was a valuation call. Finally, ValuEngine lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th.

Shares of NASDAQ CCMP traded down $0.12 during midday trading on Monday, reaching $103.17. 226,640 shares of the company’s stock were exchanged, compared to its average volume of 201,553. Cabot Microelectronics has a 52-week low of $89.19 and a 52-week high of $123.76. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 19.76 and a beta of 1.27.

Cabot Microelectronics (NASDAQ:CCMP) last announced its earnings results on Wednesday, October 24th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.14. Cabot Microelectronics had a return on equity of 21.59% and a net margin of 18.64%. The business had revenue of $156.70 million for the quarter, compared to analyst estimates of $155.65 million. During the same period in the previous year, the company earned $1.07 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, research analysts expect that Cabot Microelectronics will post 6.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Friday, October 5th. Cabot Microelectronics’s dividend payout ratio is currently 30.65%.

Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in Cabot Microelectronics by 495.4% in the second quarter. Captrust Financial Advisors now owns 1,030 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 857 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Cabot Microelectronics in the second quarter valued at about $116,000. First Quadrant L P CA bought a new stake in Cabot Microelectronics in the third quarter valued at about $139,000. Cornerstone Wealth Management LLC bought a new stake in Cabot Microelectronics in the second quarter valued at about $163,000. Finally, Meeder Asset Management Inc. increased its holdings in Cabot Microelectronics by 378.6% in the third quarter. Meeder Asset Management Inc. now owns 1,900 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 1,503 shares during the last quarter. 94.77% of the stock is owned by hedge funds and other institutional investors.

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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