Cabot Microelectronics (NASDAQ:CCMP) Stock Rating Lowered by TheStreet

TheStreet downgraded shares of Cabot Microelectronics (NASDAQ:CCMP) from an a rating to a c+ rating in a research report released on Monday morning, TheStreetRatingsTable reports.

A number of other equities analysts have also weighed in on the company. Buckingham Research reiterated a buy rating and set a $170.00 price objective (up previously from $150.00) on shares of Cabot Microelectronics in a research note on Monday, October 28th. Seaport Global Securities lowered Cabot Microelectronics from a buy rating to a neutral rating in a research note on Wednesday, October 30th. BidaskClub lowered Cabot Microelectronics from a strong-buy rating to a buy rating in a research note on Friday, November 1st. Zacks Investment Research upgraded Cabot Microelectronics from a strong sell rating to a hold rating and set a $157.00 price objective for the company in a research note on Monday, October 14th. Finally, ValuEngine cut Cabot Microelectronics from a hold rating to a sell rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Cabot Microelectronics currently has an average rating of Hold and an average target price of $151.20.

NASDAQ CCMP opened at $126.95 on Monday. The stock has a 50-day simple moving average of $147.00 and a two-hundred day simple moving average of $124.61. The firm has a market capitalization of $4.53 billion, a P/E ratio of 18.89 and a beta of 1.36. Cabot Microelectronics has a fifty-two week low of $82.24 and a fifty-two week high of $160.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.12 and a current ratio of 3.06.

Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Sunday, November 17th. The semiconductor company reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.05. The business had revenue of $278.65 million during the quarter, compared to analyst estimates of $278.90 million. Cabot Microelectronics had a return on equity of 21.77% and a net margin of 11.76%. As a group, analysts forecast that Cabot Microelectronics will post 7.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Tuesday, October 8th. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 25.00%.

Large investors have recently bought and sold shares of the company. Huntington National Bank grew its position in shares of Cabot Microelectronics by 81.1% during the 2nd quarter. Huntington National Bank now owns 306 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 137 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Cabot Microelectronics during the 2nd quarter valued at about $44,000. Tower Research Capital LLC TRC acquired a new stake in shares of Cabot Microelectronics during the 2nd quarter valued at about $130,000. Griffin Asset Management Inc. acquired a new stake in shares of Cabot Microelectronics during the 2nd quarter valued at about $202,000. Finally, United Capital Financial Advisers LLC acquired a new stake in shares of Cabot Microelectronics during the 2nd quarter valued at about $206,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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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