Sanford C. Bernstein reaffirmed their sell rating on shares of Cabot Microelectronics (NASDAQ:CCMP) in a research note issued to investors on Tuesday, AnalystRatings.com reports.
A number of other equities research analysts have also recently weighed in on the company. TheStreet raised Cabot Microelectronics from a c+ rating to a b+ rating in a report on Thursday, February 6th. Loop Capital raised Cabot Microelectronics from a hold rating to a buy rating and raised their price target for the company from $156.00 to $163.00 in a report on Wednesday, December 18th. Buckingham Research reaffirmed a buy rating and set a $170.00 price target (up from $150.00) on shares of Cabot Microelectronics in a report on Monday, October 28th. Seaport Global Securities cut Cabot Microelectronics from a buy rating to a neutral rating in a report on Wednesday, October 30th. Finally, Citigroup raised their price target on Cabot Microelectronics from $140.00 to $175.00 and gave the company a neutral rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $156.33.
Shares of Cabot Microelectronics stock traded up $1.32 during midday trading on Tuesday, hitting $167.43. 9,475 shares of the company were exchanged, compared to its average volume of 239,343. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.33 and a quick ratio of 2.34. The firm has a market cap of $4.72 billion, a P/E ratio of 77.41 and a beta of 1.36. Cabot Microelectronics has a 52 week low of $97.21 and a 52 week high of $169.13. The firm has a 50 day simple moving average of $152.01 and a 200-day simple moving average of $139.63.
Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results on Wednesday, February 5th. The semiconductor company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.21. The business had revenue of $283.14 million during the quarter, compared to the consensus estimate of $281.60 million. Cabot Microelectronics had a return on equity of 19.66% and a net margin of 5.85%. Equities research analysts expect that Cabot Microelectronics will post 7.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, December 20th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, December 19th. This represents a $1.68 dividend on an annualized basis and a yield of 1.00%. Cabot Microelectronics’s dividend payout ratio is 25.00%.
In other news, VP Bernstein H. Carol Eckstein sold 8,075 shares of Cabot Microelectronics stock in a transaction on Monday, February 10th. The stock was sold at an average price of $160.64, for a total value of $1,297,168.00. Following the completion of the sale, the vice president now directly owns 47,413 shares of the company’s stock, valued at approximately $7,616,424.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas S. Roman sold 6,075 shares of Cabot Microelectronics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $160.80, for a total value of $976,860.00. Following the completion of the sale, the insider now directly owns 9,262 shares of the company’s stock, valued at $1,489,329.60. The disclosure for this sale can be found here. Insiders have sold a total of 68,426 shares of company stock valued at $10,730,477 over the last ninety days. Insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Earnest Partners LLC increased its stake in shares of Cabot Microelectronics by 5.3% in the 4th quarter. Earnest Partners LLC now owns 1,284,710 shares of the semiconductor company’s stock valued at $185,409,000 after buying an additional 64,764 shares during the period. State Street Corp increased its stake in shares of Cabot Microelectronics by 8.9% in the 4th quarter. State Street Corp now owns 902,965 shares of the semiconductor company’s stock valued at $130,706,000 after buying an additional 73,691 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of Cabot Microelectronics by 8.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 727,863 shares of the semiconductor company’s stock valued at $102,782,000 after buying an additional 55,013 shares during the period. Bessemer Group Inc. acquired a new stake in shares of Cabot Microelectronics in the 4th quarter valued at $93,083,000. Finally, FMR LLC increased its stake in shares of Cabot Microelectronics by 15.8% in the 4th quarter. FMR LLC now owns 631,882 shares of the semiconductor company’s stock valued at $91,193,000 after buying an additional 86,025 shares during the period. 97.08% of the stock is 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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