Goldman Sachs Group initiated coverage on shares of Cabot Microelectronics (NASDAQ:CCMP) in a research report released on Monday morning, Benzinga reports. The brokerage issued a buy rating and a $148.00 target price on the semiconductor company’s stock.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of HANNOVER RUECK/S from a sell rating to a hold rating in a research note on Friday, May 17th. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Cabot Microelectronics currently has a consensus rating of Hold and a consensus target price of $129.20.
Cabot Microelectronics stock opened at $110.91 on Monday. Cabot Microelectronics has a 1-year low of $82.24 and a 1-year high of $129.94. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 17.61 and a beta of 1.41. The firm has a fifty day simple moving average of $106.19. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.40 and a quick ratio of 2.40.
Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.06). Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%. The business had revenue of $265.39 million during the quarter, compared to the consensus estimate of $273.30 million. As a group, sell-side analysts forecast that Cabot Microelectronics will post 6.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Tuesday, June 25th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, June 24th. Cabot Microelectronics’s payout ratio is currently 32.18%.
In related news, Director Barbara A. Klein sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $108.28, for a total transaction of $324,840.00. Following the transaction, the director now directly owns 26,104 shares of the company’s stock, valued at $2,826,541.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in shares of Cabot Microelectronics by 13.0% during the fourth quarter. Legal & General Group Plc now owns 68,698 shares of the semiconductor company’s stock valued at $6,524,000 after purchasing an additional 7,912 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Cabot Microelectronics during the first quarter worth about $22,056,000. Mason Street Advisors LLC increased 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 worth $1,041,000 after buying an additional 401 shares during the last quarter. NumerixS Investment Technologies Inc increased its holdings in Cabot Microelectronics by 60.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 800 shares of the semiconductor company’s stock worth $75,000 after buying an additional 300 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in Cabot Microelectronics by 0.3% during the fourth quarter. Two Sigma Investments LP now owns 35,263 shares of the semiconductor company’s stock worth $3,362,000 after buying an additional 104 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.
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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