Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) have been assigned an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $95.67.

Several brokerages have weighed in on CCMP. Zacks Investment Research downgraded Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 1st. Loop Capital began coverage on Cabot Microelectronics in a research report on Thursday, September 28th. They issued a “buy” rating and a $94.00 price objective for the company. BidaskClub upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Cabot Microelectronics in a research report on Tuesday, September 19th. Finally, Citigroup boosted their price objective on Cabot Microelectronics from $80.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, October 27th.

Shares of Cabot Microelectronics (CCMP) traded up $0.82 during mid-day trading on Tuesday, reaching $98.85. The company’s stock had a trading volume of 186,800 shares, compared to its average volume of 150,080. 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 has a 12-month low of $62.57 and a 12-month high of $102.92. The company has a market capitalization of $2,485.74, a P/E ratio of 29.16 and a beta of 1.43.

Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. The firm had revenue of $136.80 million during the quarter, compared to the consensus estimate of $132.18 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. equities analysts forecast that Cabot Microelectronics will post 4.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.81%. Cabot Microelectronics’s dividend payout ratio is presently 23.60%.

In related news, VP Daniel D. Woodland sold 8,567 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $93.40, for a total transaction of $800,157.80. Following the completion of the transaction, the vice president now owns 15,404 shares in the company, valued at $1,438,733.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Bernstein H. Carol Eckstein sold 905 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $91.94, for a total value of $83,205.70. Following the transaction, the vice president now owns 54,150 shares of the company’s stock, valued at approximately $4,978,551. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,699 shares of company stock valued at $7,111,751. 5.50% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in CCMP. Cubist Systematic Strategies LLC grew its stake in Cabot Microelectronics by 119.8% in the second quarter. Cubist Systematic Strategies LLC now owns 7,171 shares of the semiconductor company’s stock worth $529,000 after purchasing an additional 3,909 shares during the period. Advisors Preferred LLC purchased a new stake in Cabot Microelectronics in the third quarter worth $318,000. Schwab Charles Investment Management Inc. grew its stake in Cabot Microelectronics by 15.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 184,108 shares of the semiconductor company’s stock worth $13,593,000 after purchasing an additional 24,225 shares during the period. Capital Fund Management S.A. purchased a new stake in Cabot Microelectronics in the second quarter worth $2,451,000. Finally, BNP Paribas Arbitrage SA grew its stake in Cabot Microelectronics by 41.9% in the third quarter. BNP Paribas Arbitrage SA now owns 14,150 shares of the semiconductor company’s stock worth $1,131,000 after purchasing an additional 4,177 shares during the period. Institutional investors own 93.08% of the company’s stock.

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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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