Cabot Microelectronics VP Sells $159,016 in Stock (CCMP)
Cabot Microelectronics (NASDAQ:CCMP) VP Adam Weisman sold 3,778 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $42.09, for a total value of $159,016.02. Following the sale, the vice president now directly owns 25,550 shares of the company’s stock, valued at approximately $1,075,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
CCMP has been the subject of a number of recent research reports. 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 analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $50.30.
Shares of Cabot Microelectronics (NASDAQ:CCMP) opened at 42.00 on Monday. Cabot Microelectronics has a 52-week low of $35.72 and a 52-week high of $47.99. The stock’s 50-day moving average is $42.90 and its 200-day moving average is $43.08. The company has a market cap of $997.6 million and a P/E ratio of 21.34.
Cabot Microelectronics (NASDAQ:CCMP) last announced its earnings results 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. Analysts expect that Cabot Microelectronics will post $2.08 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).
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