Separately, Zacks Investment Research lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.33.
Shares of CCMP stock opened at $106.54 on Tuesday. Cabot Microelectronics has a 52-week low of $82.24 and a 52-week high of $129.94. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 17.28 and a beta of 1.39. The company has a quick ratio of 2.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.96.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.06). Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%. The company had revenue of $265.39 million for the quarter, compared to analysts’ expectations of $273.30 million. On average, equities analysts expect that Cabot Microelectronics will post 6.78 EPS for the current year.
In related news, Director Barbara A. Klein sold 3,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $108.28, for a total transaction of $324,840.00. Following the sale, the director now 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 SEC, which is available through the SEC website. 2.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Connable Office Inc. grew its holdings in shares of Cabot Microelectronics by 2.3% in the first quarter. Connable Office Inc. now owns 4,121 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 91 shares during the last quarter. Private Capital Group LLC grew its holdings in Cabot Microelectronics by 24.7% during the 1st quarter. Private Capital Group LLC now owns 474 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 94 shares in the last quarter. Two Sigma Investments LP grew its holdings in Cabot Microelectronics by 0.3% during the 4th quarter. Two Sigma Investments LP now owns 35,263 shares of the semiconductor company’s stock worth $3,362,000 after acquiring an additional 104 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Cabot Microelectronics by 1.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,938 shares of the semiconductor company’s stock worth $1,113,000 after acquiring an additional 113 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its holdings in Cabot Microelectronics by 38.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 483 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 133 shares in the last quarter. 99.08% of the stock is currently owned by institutional investors and hedge funds.
About Cabot Microelectronics
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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