Cabot Microelectronics (CCMP) Rating Increased to Buy at ValuEngine

Cabot Microelectronics (NASDAQ:CCMP) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Other analysts have also recently issued reports about the stock. Loop Capital increased their target price on shares of Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 26th. BidaskClub raised shares of Cabot Microelectronics from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Zacks Investment Research cut shares of Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 1st. Seaport Global Securities reissued a “buy” rating and set a $112.00 target price on shares of Cabot Microelectronics in a report on Monday, January 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Cabot Microelectronics in a report on Friday, January 26th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Cabot Microelectronics currently has a consensus rating of “Buy” and an average price target of $110.40.

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NASDAQ CCMP traded down $4.10 during trading hours on Monday, reaching $103.01. 102,033 shares of the company traded hands, compared to its average volume of 181,747. 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 current ratio of 6.53 and a quick ratio of 5.71. The company has a market capitalization of $2,742.99, a price-to-earnings ratio of 28.94 and a beta of 1.36.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $140.00 million for the quarter, compared to the consensus estimate of $137.90 million. During the same period in the prior year, the firm posted $0.92 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. analysts anticipate that Cabot Microelectronics will post 4.71 EPS for the current year.

In related news, Director William P. Noglows sold 17,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $98.86, for a total value of $1,680,620.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Bernstein H. Carol Eckstein sold 19,425 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.51, for a total transaction of $1,971,831.75. Following the completion of the sale, the vice president now directly owns 57,487 shares in the company, valued at approximately $5,835,505.37. The disclosure for this sale can be found here. Insiders have sold 70,236 shares of company stock worth $7,247,782 over the last three months. 3.30% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its holdings in shares of Cabot Microelectronics by 2.7% in the 3rd quarter. Sei Investments Co. now owns 20,500 shares of the semiconductor company’s stock worth $1,639,000 after acquiring an additional 532 shares during the period. Aperio Group LLC increased its holdings in shares of Cabot Microelectronics by 7.8% in the 4th quarter. Aperio Group LLC now owns 8,158 shares of the semiconductor company’s stock worth $768,000 after acquiring an additional 587 shares during the period. Profund Advisors LLC increased its holdings in shares of Cabot Microelectronics by 17.5% in the 4th quarter. Profund Advisors LLC now owns 3,940 shares of the semiconductor company’s stock worth $371,000 after acquiring an additional 588 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Cabot Microelectronics by 5.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the semiconductor company’s stock worth $1,025,000 after acquiring an additional 600 shares during the period. Finally, LS Investment Advisors LLC increased its holdings in shares of Cabot Microelectronics by 93.4% in the 4th quarter. LS Investment Advisors LLC now owns 1,663 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 803 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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Cabot Microelectronics Company Profile

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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