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Cabot Microelectronics (NASDAQ:CCMP) was upgraded by stock analysts at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Monday, TheFlyOnTheWall.com reports.

Cabot Microelectronics (NASDAQ:CCMP) traded up 1.71% during mid-day trading on Monday, hitting $40.49. The stock had a trading volume of 104,998 shares. Cabot Microelectronics has a 52-week low of $34.91 and a 52-week high of $47.99. The stock’s 50-day moving average is $44.39 and its 200-day moving average is $43.55. The company has a market cap of $961.8 million and a price-to-earnings ratio of 19.29.

Cabot Microelectronics (NASDAQ:CCMP) last released its earnings data on Thursday, July 24th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by $0.10. The company had revenue of $108.40 million for the quarter, compared to the consensus estimate of $111.78 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that Cabot Microelectronics will post $2.10 EPS for the current fiscal year.

Separately, analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Cabot Microelectronics in a research note on Wednesday, June 11th. They now have a $53.00 price target on the stock, up previously from $50.00. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $51.57.

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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