Cabot Microelectronics Corporation (CCMP) Forecasted to Post FY2017 Earnings of $3.36 Per Share
Cabot Microelectronics Corporation (NASDAQ:CCMP) – Research analysts at Seaport Global Securities issued their FY2017 EPS estimates for Cabot Microelectronics Corporation in a report released on Wednesday. Seaport Global Securities analyst M. Harrison expects that the semiconductor company will earn $3.36 per share for the year. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Cabot Microelectronics Corporation’s Q4 2017 earnings at $0.86 EPS, Q1 2018 earnings at $0.89 EPS, Q2 2018 earnings at $0.85 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.04 EPS and FY2018 earnings at $3.77 EPS.
A number of other equities analysts also recently commented on the company. BidaskClub downgraded Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Needham & Company LLC raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, June 27th. Finally, Zacks Investment Research raised Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $80.00.
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Shares of Cabot Microelectronics Corporation (CCMP) opened at 72.08 on Friday. The company has a market capitalization of $1.82 billion, a PE ratio of 22.48 and a beta of 1.46. Cabot Microelectronics Corporation has a 12-month low of $48.17 and a 12-month high of $81.85. The stock has a 50 day moving average of $72.27 and a 200-day moving average of $73.94.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. Cabot Microelectronics Corporation had a net margin of 16.41% and a return on equity of 16.08%. The firm had revenue of $128 million during the quarter, compared to the consensus estimate of $122.17 million. During the same quarter in the prior year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was up 18.4% on a year-over-year basis.
A number of institutional investors and hedge funds have recently made changes to their positions in CCMP. BlackRock Inc. boosted its holdings in Cabot Microelectronics Corporation by 54,661.0% in the first quarter. BlackRock Inc. now owns 2,953,259 shares of the semiconductor company’s stock valued at $226,250,000 after purchasing an additional 2,947,866 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in Cabot Microelectronics Corporation in the second quarter valued at approximately $36,933,000. Vanguard Group Inc. boosted its holdings in Cabot Microelectronics Corporation by 7.3% in the second quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock valued at $173,886,000 after purchasing an additional 160,668 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Cabot Microelectronics Corporation by 33.9% in the second quarter. Renaissance Technologies LLC now owns 573,109 shares of the semiconductor company’s stock valued at $42,313,000 after purchasing an additional 145,109 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Cabot Microelectronics Corporation by 7.9% in the first quarter. JPMorgan Chase & Co. now owns 1,737,525 shares of the semiconductor company’s stock valued at $133,111,000 after purchasing an additional 126,786 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Daniel D. Woodland sold 432 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $74.90, for a total value of $32,356.80. Following the completion of the transaction, the vice president now directly owns 17,588 shares of the company’s stock, valued at $1,317,341.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara A. Klein sold 12,502 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.69, for a total value of $896,268.38. Following the completion of the transaction, the director now directly owns 34,561 shares of the company’s stock, valued at $2,477,678.09. The disclosure for this sale can be found here. Insiders sold 24,740 shares of company stock valued at $1,799,554 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.
About Cabot Microelectronics Corporation
Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.
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