Cabot Microelectronics Co. (NASDAQ:CCMP) – Research analysts at Seaport Global Securities reduced their Q3 2019 earnings per share (EPS) estimates for Cabot Microelectronics in a report released on Monday, May 20th. Seaport Global Securities analyst M. Harrison now forecasts that the semiconductor company will earn $1.60 per share for the quarter, down from their previous estimate of $1.77. Seaport Global Securities also issued estimates for Cabot Microelectronics’ Q4 2019 earnings at $1.75 EPS, FY2019 earnings at $6.81 EPS, Q1 2020 earnings at $1.83 EPS, Q2 2020 earnings at $1.89 EPS, Q3 2020 earnings at $1.93 EPS, Q4 2020 earnings at $2.05 EPS and FY2020 earnings at $7.70 EPS.
Several other equities analysts have also issued reports on the company. BidaskClub lowered Cabot Microelectronics from a “hold” rating to a “sell” rating in a report on Monday. Zacks Investment Research lowered Cabot Microelectronics from a “hold” rating to a “sell” rating in a report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $124.33.
Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.06). The business had revenue of $265.39 million during the quarter, compared to the consensus estimate of $273.30 million. Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCMP. Enlightenment Research LLC bought a new position in Cabot Microelectronics during the fourth quarter valued at $29,000. Huntington National Bank bought a new position in Cabot Microelectronics during the fourth quarter valued at $30,000. Bremer Bank National Association bought a new position in Cabot Microelectronics during the first quarter valued at $32,000. Private Capital Group LLC grew its holdings in Cabot Microelectronics by 1,627.3% during the fourth quarter. Private Capital Group LLC now owns 380 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 358 shares during the period. Finally, IFP Advisors Inc grew its holdings in Cabot Microelectronics by 250.0% during the fourth quarter. IFP Advisors Inc now owns 427 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 305 shares during the period. 98.62% of the stock is owned by institutional investors and hedge funds.
In other Cabot Microelectronics news, VP Jeffrey Michael Dysard sold 3,133 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $104.88, for a total transaction of $328,589.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.61%. This is a positive change from Cabot Microelectronics’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, March 20th. Cabot Microelectronics’s dividend payout ratio is 32.18%.
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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