Cabot Microelectronics (NASDAQ:CCMP) had its target price increased by equities researchers at Buckingham Research from $130.00 to $150.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Buckingham Research’s price target suggests a potential upside of 8.41% from the stock’s previous close.
Several other research firms have also recently weighed in on CCMP. CL King started coverage on Cabot Microelectronics in a research note on Monday, July 8th. They issued a “buy” rating and a $125.00 price target for the company. Zacks Investment Research cut Cabot Microelectronics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Goldman Sachs Group started coverage on Cabot Microelectronics in a research note on Monday, July 8th. They issued a “buy” rating and a $148.00 price target for the company. Seaport Global Securities restated a “buy” rating on shares of Cabot Microelectronics in a research note on Wednesday, August 7th. Finally, BidaskClub upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $133.20.
NASDAQ:CCMP traded up $0.85 during trading hours on Thursday, reaching $138.37. 3,628 shares of the company traded hands, compared to its average volume of 244,562. The business’s 50-day moving average price is $121.79 and its two-hundred day moving average price is $114.67. The stock has a market capitalization of $3.83 billion, a P/E ratio of 26.49 and a beta of 1.37. Cabot Microelectronics has a 1 year low of $82.24 and a 1 year high of $137.63. The company has a current ratio of 3.06, a quick ratio of 2.12 and a debt-to-equity ratio of 0.91.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.01). The company had revenue of $271.88 million for the quarter, compared to analysts’ expectations of $266.80 million. Cabot Microelectronics had a net margin of 11.76% and a return on equity of 21.77%. As a group, equities analysts anticipate that Cabot Microelectronics will post 6.68 EPS for the current year.
In related news, VP Daniel D. Woodland sold 3,137 shares of Cabot Microelectronics stock in a transaction on Monday, August 12th. The stock was sold at an average price of $114.11, for a total value of $357,963.07. Following the completion of the sale, the vice president now owns 15,422 shares of the company’s stock, valued at $1,759,804.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David H. Li sold 27,425 shares of Cabot Microelectronics stock in a transaction on Monday, August 12th. The stock was sold at an average price of $114.28, for a total value of $3,134,129.00. Following the completion of the sale, the insider now directly owns 78,683 shares of the company’s stock, valued at approximately $8,991,893.24. The disclosure for this sale can be found here. Insiders sold 35,758 shares of company stock valued at $4,133,175 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP bought a new stake in Cabot Microelectronics during the first quarter valued at about $22,056,000. Impax Asset Management Group plc bought a new stake in Cabot Microelectronics during the second quarter valued at about $3,633,000. Mason Street Advisors LLC grew its holdings in Cabot Microelectronics by 4.5% during the first quarter. Mason Street Advisors LLC now owns 9,299 shares of the semiconductor company’s stock valued at $1,041,000 after purchasing an additional 401 shares during the period. Yorktown Management & Research Co Inc bought a new stake in Cabot Microelectronics during the first quarter valued at about $224,000. Finally, Fisher Asset Management LLC grew its holdings in Cabot Microelectronics by 17.8% during the second quarter. Fisher Asset Management LLC now owns 44,431 shares of the semiconductor company’s stock valued at $4,891,000 after purchasing an additional 6,699 shares during the period. 99.66% of the stock is owned by institutional investors and hedge funds.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.
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