Cabot Microelectronics Co. (NASDAQ:CCMP) has been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $115.00.
Several analysts have recently issued reports on the company. BidaskClub cut Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 17th. Loop Capital increased their price target on Cabot Microelectronics from $123.00 to $134.00 and gave the company a “positive” rating in a report on Friday, July 27th. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Tuesday, July 31st. Finally, ValuEngine lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th.
Large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its holdings in Cabot Microelectronics by 495.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,030 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 857 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Cabot Microelectronics during the 2nd quarter valued at $116,000. Citigroup Inc. raised its holdings in Cabot Microelectronics by 337.4% during the 1st quarter. Citigroup Inc. now owns 1,194 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 921 shares during the period. Bruderman Asset Management LLC purchased a new stake in Cabot Microelectronics during the 1st quarter valued at $155,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in Cabot Microelectronics during the 2nd quarter valued at $163,000. Institutional investors own 95.34% of the company’s stock.
Shares of CCMP traded down $0.05 during mid-day trading on Friday, hitting $107.71. 248,430 shares of the stock were exchanged, compared to its average volume of 245,643. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 30.26 and a beta of 1.32. Cabot Microelectronics has a 52-week low of $73.26 and a 52-week high of $123.76.
Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.17. The business had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $146.58 million. Cabot Microelectronics had a return on equity of 20.40% and a net margin of 15.47%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. analysts expect that Cabot Microelectronics will post 5.09 earnings per share for the current year.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers.
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