Insider Selling: Cabot Microelectronics Corp. VP Sells 35,976 Shares of Stock (CCMP)
Cabot Microelectronics Corp. (NASDAQ:CCMP) VP Daniel Pike unloaded 35,976 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $42.21, for a total value of $1,518,546.96. Following the sale, the vice president now directly owns 59,288 shares of the company’s stock, valued at approximately $2,502,546. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on CCMP. Analysts at Zacks upgraded shares of Cabot Microelectronics Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $43.50 price target on the stock. Separately, analysts at DA Davidson raised their price target on shares of Cabot Microelectronics Corp. from $37.00 to $47.00 in a research note to investors on Wednesday, October 30th. They now have a “market perform” rating on the stock. Finally, analysts at Sidoti downgraded shares of Cabot Microelectronics Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, October 21st.
Cabot Microelectronics Corp. (NASDAQ:CCMP) traded up 5.06% during mid-day trading on Monday, hitting $42.28. 325,462 shares of the company’s stock traded hands. Cabot Microelectronics Corp. has a one year low of $28.72 and a one year high of $44.59. The stock’s 50-day moving average is $39.18 and its 200-day moving average is $36.43. The company has a market cap of $974.2 million and a P/E ratio of 18.63.
Cabot Microelectronics Corp. (NASDAQ:CCMP) last released its earnings data on Tuesday, October 29th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.60 by $0.10. The company had revenue of $116.30 million for the quarter, compared to the consensus estimate of $112.20 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that Cabot Microelectronics Corp. will post $2.48 EPS for the current fiscal year.
Cabot Microelectronics Corporation (NASDAQ:CCMP) is the supplier of polishing slurries and a CMP pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP).