Cabot Microelectronics (NASDAQ:CCMP) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Cabot Microelectronics (NASDAQ:CCMP) from a hold rating to a buy rating in a research note released on Thursday, BidAskClub reports.

A number of other research analysts also recently issued reports on CCMP. TheStreet downgraded shares of Cabot Microelectronics from an a rating to a c+ rating in a research report on Monday, November 18th. ValuEngine downgraded shares of Cabot Microelectronics from a hold rating to a sell rating in a research report on Friday, November 1st. Loop Capital downgraded shares of Cabot Microelectronics from a buy rating to a hold rating and set a $156.00 target price on the stock. in a research report on Thursday, November 14th. Seaport Global Securities downgraded shares of Cabot Microelectronics from a buy rating to a neutral rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research downgraded shares of Cabot Microelectronics from a buy rating to a sell rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $151.20.

NASDAQ CCMP traded up $0.02 on Thursday, hitting $136.57. 7,180 shares of the company were exchanged, compared to its average volume of 664,195. The firm has a 50 day moving average of $142.72 and a two-hundred day moving average of $126.68. The company has a market cap of $3.97 billion, a P/E ratio of 20.36 and a beta of 1.31. The company has a current ratio of 2.97, a quick ratio of 2.12 and a debt-to-equity ratio of 0.95. Cabot Microelectronics has a 1-year low of $82.24 and a 1-year high of $160.81.

Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings results on Sunday, November 17th. The semiconductor company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.05. The business had revenue of $278.65 million for the quarter, compared to the consensus estimate of $278.90 million. Cabot Microelectronics had a net margin of 3.78% and a return on equity of 21.12%. Research analysts anticipate that Cabot Microelectronics will post 7.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, December 20th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, December 19th. This represents a $1.68 dividend on an annualized basis and a yield of 1.23%. Cabot Microelectronics’s payout ratio is presently 25.00%.

In other Cabot Microelectronics news, VP Jeffrey Michael Dysard sold 10,291 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $131.80, for a total transaction of $1,356,353.80. Following the transaction, the vice president now directly owns 7,274 shares in the company, valued at approximately $958,713.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently made changes to their positions in CCMP. Victory Capital Management Inc. raised its position in shares of Cabot Microelectronics by 151.1% in the 2nd quarter. Victory Capital Management Inc. now owns 477,276 shares of the semiconductor company’s stock valued at $52,539,000 after acquiring an additional 287,168 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Cabot Microelectronics in the 2nd quarter valued at approximately $25,503,000. Carlson Capital L P raised its position in shares of Cabot Microelectronics by 114.8% in the 2nd quarter. Carlson Capital L P now owns 273,025 shares of the semiconductor company’s stock valued at $30,055,000 after acquiring an additional 145,925 shares during the period. Morgan Stanley raised its position in shares of Cabot Microelectronics by 365.3% in the 2nd quarter. Morgan Stanley now owns 145,797 shares of the semiconductor company’s stock valued at $16,049,000 after acquiring an additional 114,464 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Cabot Microelectronics by 18.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 672,850 shares of the semiconductor company’s stock valued at $74,068,000 after acquiring an additional 105,225 shares during the period. Institutional investors and hedge funds own 98.10% 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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Analyst Recommendations for Cabot Microelectronics (NASDAQ:CCMP)

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