Cabot Microelectronics Co. (CCMP) Receives $110.40 Consensus Price Target from Analysts

Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $110.40.

Several brokerages have issued reports on CCMP. BidaskClub raised shares of Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research note on Thursday, February 1st. Seaport Global Securities reaffirmed a “buy” rating and set a $112.00 target price on shares of Cabot Microelectronics in a research note on Monday, January 29th. Loop Capital lifted their target price on shares of Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 target price (up previously from $110.00) on shares of Cabot Microelectronics in a research note on Friday, January 26th.

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In other news, VP Bernstein H. Carol Eckstein sold 19,425 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.51, for a total transaction of $1,971,831.75. Following the transaction, the vice president now owns 57,487 shares of the company’s stock, valued at approximately $5,835,505.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard Hill sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $113.21, for a total transaction of $113,210.00. Following the transaction, the director now directly owns 9,011 shares in the company, valued at approximately $1,020,135.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,236 shares of company stock worth $7,247,782. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Sei Investments Co. boosted its position in shares of Cabot Microelectronics by 2.7% during the 3rd quarter. Sei Investments Co. now owns 20,500 shares of the semiconductor company’s stock valued at $1,639,000 after acquiring an additional 532 shares during the last quarter. Aperio Group LLC lifted its position in Cabot Microelectronics by 7.8% in the fourth quarter. Aperio Group LLC now owns 8,158 shares of the semiconductor company’s stock valued at $768,000 after buying an additional 587 shares during the last quarter. Profund Advisors LLC lifted its position in Cabot Microelectronics by 17.5% in the fourth quarter. Profund Advisors LLC now owns 3,940 shares of the semiconductor company’s stock valued at $371,000 after buying an additional 588 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Cabot Microelectronics by 5.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the semiconductor company’s stock valued at $1,025,000 after buying an additional 600 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware lifted its position in Cabot Microelectronics by 1.5% in the third quarter. Mckinley Capital Management LLC Delaware now owns 52,576 shares of the semiconductor company’s stock valued at $4,202,000 after buying an additional 800 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CCMP traded up $2.20 on Friday, hitting $107.11. The company had a trading volume of 165,443 shares, compared to its average volume of 175,923. Cabot Microelectronics has a 12-month low of $68.00 and a 12-month high of $115.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.71 and a current ratio of 6.53. The firm has a market cap of $2,742.98, a PE ratio of 30.09 and a beta of 1.41.

Cabot Microelectronics (NASDAQ:CCMP) last announced its earnings results on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. Cabot Microelectronics had a net margin of 11.74% and a return on equity of 16.99%. The company had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $137.90 million. During the same quarter in the previous year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. equities analysts predict that Cabot Microelectronics will post 4.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 23rd will be given a dividend of $0.40 per share. This is a boost from Cabot Microelectronics’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, March 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.49%. Cabot Microelectronics’s payout ratio is presently 44.94%.

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About Cabot Microelectronics

Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.

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