Cabot Microelectronics (NASDAQ:CCMP) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.

Other research analysts have also issued reports about the stock. Loop Capital assumed coverage on shares of Cabot Microelectronics in a research note on Thursday, September 28th. They set a “buy” rating and a $94.00 price objective on the stock. Zacks Investment Research raised shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Cabot Microelectronics in a report on Tuesday, September 19th. Finally, Citigroup lifted their target price on shares of Cabot Microelectronics from $80.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Cabot Microelectronics presently has an average rating of “Buy” and a consensus price target of $99.75.

Cabot Microelectronics (NASDAQ CCMP) traded up $0.72 during trading on Friday, hitting $98.03. 139,935 shares of the stock traded hands, compared to its average volume of 174,736. The firm has a market cap of $2,500.00, a price-to-earnings ratio of 29.00 and a beta of 1.43. Cabot Microelectronics has a one year low of $62.57 and a one year high of $102.92. The company has a quick ratio of 5.25, a current ratio of 6.04 and a debt-to-equity ratio of 0.22.

Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.20. The company had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. Cabot Microelectronics had a net margin of 17.10% and a return on equity of 16.27%. Cabot Microelectronics’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. sell-side analysts anticipate that Cabot Microelectronics will post 4.14 earnings per share for the current fiscal year.

In other Cabot Microelectronics news, Director Richard Hill sold 15,638 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $94.58, for a total value of $1,479,042.04. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $1,428,536.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Yumiko Damashek sold 2,925 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $95.13, for a total transaction of $278,255.25. Following the completion of the sale, the vice president now directly owns 31,670 shares of the company’s stock, valued at approximately $3,012,767.10. The disclosure for this sale can be found here. Insiders have sold a total of 73,699 shares of company stock valued at $7,111,751 in the last ninety days. 5.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverhead Capital Management LLC boosted its holdings in Cabot Microelectronics by 88.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 799 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Cabot Microelectronics by 17.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock valued at $164,000 after purchasing an additional 324 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Cabot Microelectronics by 87.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,246 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 1,048 shares during the period. Advisor Group Inc. boosted its holdings in Cabot Microelectronics by 4.5% in the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock valued at $172,000 after purchasing an additional 100 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Cabot Microelectronics by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock valued at $204,000 after purchasing an additional 415 shares during the period. 93.08% of the stock is owned by hedge funds and other institutional investors.

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Cabot Microelectronics Company Profile

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.

Analyst Recommendations for Cabot Microelectronics (NASDAQ:CCMP)

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