Cabot Microelectronics Co. (NASDAQ:CCMP) – Stock analysts at Seaport Global Securities reduced their Q4 2019 EPS estimates for Cabot Microelectronics in a research note issued on Tuesday, August 13th. Seaport Global Securities analyst M. Harrison now anticipates that the semiconductor company will post earnings per share of $1.53 for the quarter, down from their previous forecast of $1.75. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Cabot Microelectronics’ Q1 2020 earnings at $1.78 EPS, Q2 2020 earnings at $1.79 EPS, Q3 2020 earnings at $1.91 EPS, Q4 2020 earnings at $1.93 EPS and FY2020 earnings at $7.40 EPS.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research note on Wednesday. CL King initiated coverage on shares of Cabot Microelectronics in a research note on Monday, July 8th. They issued a “buy” rating and a $125.00 target price on the stock. BidaskClub cut shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Goldman Sachs Group initiated coverage on shares of Cabot Microelectronics in a research note on Monday, July 8th. They issued a “buy” rating and a $148.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $129.20.
CCMP opened at $118.26 on Wednesday. The company has a quick ratio of 2.12, a current ratio of 3.06 and a debt-to-equity ratio of 0.91. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 22.66 and a beta of 1.39. Cabot Microelectronics has a twelve month low of $82.24 and a twelve month high of $129.94. The company’s 50-day moving average price is $114.41 and its two-hundred day moving average price is $111.62.
Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Wednesday, August 7th. The semiconductor company reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.01). The company had revenue of $271.88 million during 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 19.78%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Westfield Capital Management Co. LP bought a new stake in Cabot Microelectronics during the 1st quarter worth approximately $22,056,000. Mason Street Advisors LLC increased its holdings in Cabot Microelectronics by 4.5% during the 1st quarter. Mason Street Advisors LLC now owns 9,299 shares of the semiconductor company’s stock worth $1,041,000 after acquiring an additional 401 shares during the period. Yorktown Management & Research Co Inc bought a new stake in Cabot Microelectronics during the 1st quarter worth approximately $224,000. Bank of Montreal Can increased its holdings in Cabot Microelectronics by 26.1% during the 1st quarter. Bank of Montreal Can now owns 3,762 shares of the semiconductor company’s stock worth $421,000 after acquiring an additional 779 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in Cabot Microelectronics by 6.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 77,517 shares of the semiconductor company’s stock worth $8,679,000 after acquiring an additional 4,804 shares during the period. 98.60% of the stock is currently owned by institutional investors.
In other news, insider David H. Li sold 27,425 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $114.28, for a total value of $3,134,129.00. Following the sale, the insider now owns 78,683 shares of the company’s stock, valued at $8,991,893.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Barbara A. Klein sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 26,104 shares in the company, valued at approximately $2,826,541.12. The disclosure for this sale can be found here. In the last three months, insiders sold 33,562 shares of company stock worth $3,816,932. Insiders own 2.20% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Tuesday, June 25th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Monday, June 24th. Cabot Microelectronics’s dividend payout ratio (DPR) is currently 32.18%.
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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