Cabot Microelectronics VP Sells $1,421,252 in Stock (CCMP)
Cabot Microelectronics (NASDAQ:CCMP) VP Daniel S. Wobby sold 33,775 shares of the company’s stock on the open market in a transaction dated Friday, May 9th. The shares were sold at an average price of $42.08, for a total transaction of $1,421,252.00. Following the sale, the vice president now directly owns 25,733 shares of the company’s stock, valued at approximately $1,082,845. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Cabot Microelectronics (NASDAQ:CCMP) traded up 2.74% during mid-day trading on Monday, hitting $43.45. 59,674 shares of the company’s stock traded hands. Cabot Microelectronics has a 52 week low of $32.53 and a 52 week high of $47.99. The stock has a 50-day moving average of $43.31 and a 200-day moving average of $43.40. The company has a market cap of $1.042 billion and a price-to-earnings ratio of 19.40.
Cabot Microelectronics (NASDAQ:CCMP) last released its earnings data on Thursday, April 24th. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.08. The company had revenue of $99.50 million for the quarter, compared to the consensus estimate of $98.10 million. During the same quarter last year, the company posted $0.40 earnings per share. Cabot Microelectronics’s revenue was down .9% compared to the same quarter last year. Analysts expect that Cabot Microelectronics will post $2.24 EPS for the current fiscal year.
A number of analysts have recently weighed in on CCMP shares. Analysts at Davidson raised their price target on shares of Cabot Microelectronics from $50.00 to $54.00 in a research note on Friday, April 25th. Separately, analysts at DA Davidson reiterated a “buy” rating on shares of Cabot Microelectronics in a research note on Friday, April 25th. They now have a $54.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Cabot Microelectronics from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 25th. They now have a $46.40 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $50.07.
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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