Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) have earned an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $117.00.
Several equities research analysts have recently issued reports on CCMP shares. BidaskClub cut Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. ValuEngine cut Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Loop Capital set a $117.00 price objective on Cabot Microelectronics and gave the stock a “buy” rating in a report on Monday, August 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $119.00 price objective on the stock in a report on Monday, November 5th.
Shares of CCMP stock traded down $0.12 during mid-day trading on Monday, hitting $103.17. 226,640 shares of the company’s stock were exchanged, compared to its average volume of 201,553. Cabot Microelectronics has a fifty-two week low of $89.19 and a fifty-two week high of $123.76. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 19.76 and a beta of 1.27.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.14. Cabot Microelectronics had a return on equity of 21.59% and a net margin of 18.64%. The business had revenue of $156.70 million for the quarter, compared to analysts’ expectations of $155.65 million. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cabot Microelectronics will post 6.9 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, October 5th. Cabot Microelectronics’s payout ratio is currently 30.65%.
Institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in Cabot Microelectronics by 495.4% in the second quarter. Captrust Financial Advisors now owns 1,030 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 857 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Cabot Microelectronics in the second quarter valued at $116,000. First Quadrant L P CA acquired a new position in Cabot Microelectronics in the third quarter valued at $139,000. Cornerstone Wealth Management LLC acquired a new position in Cabot Microelectronics in the second quarter valued at $163,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Cabot Microelectronics by 378.6% during the third quarter. Meeder Asset Management Inc. now owns 1,900 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 94.77% of the company’s stock.
About Cabot Microelectronics
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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