Cabot Microelectronics Co. (NASDAQ:CCMP) has been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $120.80.
A number of brokerages recently issued reports on CCMP. Loop Capital set a $123.00 price objective on shares of Cabot Microelectronics and gave the company a “buy” rating in a report on Thursday. Buckingham Research began coverage on shares of Cabot Microelectronics in a report on Thursday. They issued a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research upgraded shares of Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $119.00 price objective for the company in a report on Monday, November 5th. BidaskClub lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, ValuEngine lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th.
Shares of NASDAQ CCMP opened at $104.47 on Friday. The company has a market capitalization of $2.72 billion, a P/E ratio of 20.01 and a beta of 1.27. Cabot Microelectronics has a 1 year low of $89.19 and a 1 year high of $123.76.
Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.14. The business had revenue of $156.70 million during the quarter, compared to analyst estimates of $155.65 million. Cabot Microelectronics had a net margin of 18.64% and a return on equity of 21.59%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business earned $1.07 EPS. On average, equities analysts expect that Cabot Microelectronics will post 6.9 earnings per share for the current year.
In other Cabot Microelectronics news, Director Barbara A. Klein sold 5,635 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $102.68, for a total transaction of $578,601.80. Following the completion of the sale, the director now owns 33,830 shares of the company’s stock, valued at approximately $3,473,664.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CCMP. Principal Financial Group Inc. increased its position in Cabot Microelectronics by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 214,155 shares of the semiconductor company’s stock valued at $22,938,000 after purchasing an additional 7,366 shares during the period. Bank of Montreal Can increased its position in Cabot Microelectronics by 49.8% during the 2nd quarter. Bank of Montreal Can now owns 5,471 shares of the semiconductor company’s stock valued at $587,000 after purchasing an additional 1,820 shares during the period. Amalgamated Bank increased its position in Cabot Microelectronics by 14.1% during the 2nd quarter. Amalgamated Bank now owns 4,155 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 512 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in Cabot Microelectronics during the 2nd quarter valued at approximately $163,000. Finally, Alps Advisors Inc. acquired a new stake in Cabot Microelectronics during the 2nd quarter valued at approximately $609,000.
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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