Cabot Microelectronics (NASDAQ:CCMP) Announces Quarterly Earnings Results

Cabot Microelectronics (NASDAQ:CCMP) released its quarterly earnings results on Sunday. The semiconductor company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.05, Bloomberg Earnings reports. Cabot Microelectronics had a return on equity of 21.77% and a net margin of 11.76%. The company had revenue of $278.65 million during the quarter, compared to the consensus estimate of $278.90 million.

Cabot Microelectronics stock traded up $1.08 during midday trading on Tuesday, reaching $133.67. The stock had a trading volume of 12,116 shares, compared to its average volume of 214,056. Cabot Microelectronics has a twelve month low of $82.24 and a twelve month high of $160.81. The stock has a market capitalization of $4.53 billion, a PE ratio of 25.61 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.12 and a current ratio of 3.06. The stock’s 50-day simple moving average is $147.43 and its 200 day simple moving average is $124.49.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Tuesday, October 8th. Cabot Microelectronics’s dividend payout ratio (DPR) is 32.18%.

In related news, Director Barbara A. Klein sold 5,196 shares of Cabot Microelectronics stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $123.38, for a total value of $641,082.48. Following the transaction, the director now owns 34,808 shares in the company, valued at $4,294,611.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on CCMP shares. Loop Capital cut Cabot Microelectronics from a “buy” rating to a “hold” rating and set a $156.00 price objective on the stock. in a report on Thursday, November 14th. ValuEngine cut Cabot Microelectronics from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Buckingham Research restated a “buy” rating and set a $170.00 price objective (up previously from $150.00) on shares of Cabot Microelectronics in a report on Monday, October 28th. BidaskClub cut Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Seaport Global Securities cut Cabot Microelectronics from a “buy” rating to a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $151.20.

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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Earnings History for Cabot Microelectronics (NASDAQ:CCMP)

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