Cabot Microelectronics Sees Large Growth in Short Interest (CCMP)
Cabot Microelectronics (NASDAQ:CCMP) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 958,077 shares, an increase of 30.6% from the July 15th total of 733,435 shares, StockRatingsNetwork.com reports. Currently, 4.1% of the shares of the company are sold short. Based on an average trading volume of 190,189 shares, the short-interest ratio is currently 5.0 days.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Cabot Microelectronics from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 29th. They now have a $38.80 price target on the stock. Separately, analysts at Sidoti upgraded shares of Cabot Microelectronics from a “neutral” rating to a “buy” rating in a research note on Monday, July 28th. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $50.30.
Shares of Cabot Microelectronics (NASDAQ:CCMP) opened at 42.15 on Thursday. Cabot Microelectronics has a one year low of $35.72 and a one year high of $47.99. The stock has a 50-day moving average of $43.02 and a 200-day moving average of $43.0. The company has a market cap of $1.001 billion and a P/E ratio of 21.00.
Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that Cabot Microelectronics will post $2.08 earnings per share 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).
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