Cabot Microelectronics Corp. Rating Lowered to Hold at Jefferson Research (CCMP)
Cabot Microelectronics Corp. (NASDAQ:CCMP) was downgraded by equities researchers at Jefferson Research from a “buy” rating to a “hold” rating in a research report issued on Friday, American Banking & Market News reports.
A number of other firms have also recently commented on CCMP. Analysts at Thomson Reuters/Verus downgraded shares of Cabot Microelectronics Corp. from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Separately, analysts at Needham & Company raised their price target on shares of Cabot Microelectronics Corp. from $50.00 to $55.00 in a research note on Friday, January 17th. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Cabot Microelectronics Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 31st. They now have a $47.50 price target on the stock. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.10.
Cabot Microelectronics Corp. (NASDAQ:CCMP) last released its earnings data on Thursday, January 23rd. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.11. The company had revenue of $100.50 million for the quarter, compared to the consensus estimate of $108.06 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis.
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).
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