Marks Group Wealth Management Inc Boosts Stake in CMC Materials, Inc. (NASDAQ:CCMP)

Marks Group Wealth Management Inc lifted its holdings in shares of CMC Materials, Inc. (NASDAQ:CCMP) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 36,057 shares of the semiconductor company’s stock after buying an additional 2,942 shares during the quarter. Marks Group Wealth Management Inc’s holdings in CMC Materials were worth $5,434,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Van ECK Associates Corp bought a new stake in CMC Materials in the 1st quarter worth $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of CMC Materials during the 1st quarter valued at about $30,000. Ceredex Value Advisors LLC bought a new stake in shares of CMC Materials during the 2nd quarter valued at about $30,000. Rockefeller Capital Management L.P. boosted its stake in shares of CMC Materials by 152.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 225 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 136 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in CMC Materials during the 2nd quarter valued at about $43,000. 94.80% of the stock is currently owned by institutional investors.

Several analysts recently issued reports on the stock. Seaport Res Ptn upgraded shares of CMC Materials from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 8th. Zacks Investment Research cut shares of CMC Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 11th. Seaport Global Securities upgraded shares of CMC Materials from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, June 8th. Berenberg Bank upgraded shares of CMC Materials from a “hold” rating to a “buy” rating and increased their target price for the stock from $175.00 to $180.00 in a report on Wednesday, June 9th. Finally, Wolfe Research raised shares of CMC Materials from an “underperform” rating to a “market perform” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $165.67.

NASDAQ CCMP traded up $3.12 on Wednesday, reaching $130.76. The stock had a trading volume of 3,546 shares, compared to its average volume of 211,076. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.17 and a current ratio of 3.03. CMC Materials, Inc. has a 12-month low of $119.19 and a 12-month high of $198.60. The business’s 50-day moving average price is $134.20 and its 200 day moving average price is $154.79. The stock has a market cap of $3.82 billion, a P/E ratio of -75.98 and a beta of 1.09.

CMC Materials (NASDAQ:CCMP) last released its quarterly earnings results on Tuesday, August 3rd. The semiconductor company reported $1.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.00 by ($0.14). CMC Materials had a positive return on equity of 21.41% and a negative net margin of 4.11%. The company had revenue of $309.52 million for the quarter, compared to analysts’ expectations of $308.54 million. During the same quarter last year, the company earned $1.80 EPS. CMC Materials’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that CMC Materials, Inc. will post 7.49 earnings per share for the current year.

CMC Materials Profile

CMC Materials, Inc engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. It operates through the following segments: Electronic Materials and Performance Material. The Electronic Materials segment consists of CMP slurries and polishing pads businesses and KMG electronic chemicals business.

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Institutional Ownership by Quarter for CMC Materials (NASDAQ:CCMP)

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