BidaskClub lowered shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) from a buy rating to a hold rating in a research report released on Saturday.
CCMP has been the topic of a number of other research reports. Citigroup Inc. raised their price target on shares of Cabot Microelectronics Corporation to $75.00 and gave the stock a neutral rating in a report on Monday, March 20th. Aegis raised shares of Cabot Microelectronics Corporation from a hold rating to a buy rating in a report on Friday, March 17th.
Shares of Cabot Microelectronics Corporation (CCMP) traded down 1.46% during mid-day trading on Friday, hitting $74.49. 322,420 shares of the company traded hands. The stock has a market capitalization of $1.86 billion, a PE ratio of 23.29 and a beta of 1.40. Cabot Microelectronics Corporation has a 1-year low of $40.38 and a 1-year high of $81.85. The firm’s 50 day moving average price is $76.96 and its 200-day moving average price is $70.30.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last announced its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $119.20 million for the quarter, compared to analyst estimates of $114.87 million. Cabot Microelectronics Corporation had a net margin of 16.81% and a return on equity of 16.69%. The company’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. On average, equities research analysts forecast that Cabot Microelectronics Corporation will post $3.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 23rd will be given a $0.20 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. Cabot Microelectronics Corporation’s dividend payout ratio is 25.16%.
In other news, Director William P. Noglows sold 60,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $76.96, for a total value of $4,617,600.00. Following the completion of the sale, the director now directly owns 28,652 shares of the company’s stock, valued at approximately $2,205,057.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David H. Li sold 23,251 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $78.83, for a total transaction of $1,832,876.33. Following the completion of the sale, the insider now directly owns 72,646 shares of the company’s stock, valued at $5,726,684.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,726 shares of company stock valued at $8,595,126. Corporate insiders own 5.50% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Cabot Microelectronics Corporation by 54,661.0% in the first quarter. BlackRock Inc. now owns 2,953,259 shares of the semiconductor company’s stock valued at $226,250,000 after buying an additional 2,947,866 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cabot Microelectronics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock valued at $168,125,000 after buying an additional 154,495 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cabot Microelectronics Corporation by 7.9% in the first quarter. JPMorgan Chase & Co. now owns 1,737,525 shares of the semiconductor company’s stock valued at $133,111,000 after buying an additional 126,786 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cabot Microelectronics Corporation by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,106,012 shares of the semiconductor company’s stock valued at $84,731,000 after buying an additional 3,316 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in Cabot Microelectronics Corporation by 0.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 860,232 shares of the semiconductor company’s stock valued at $65,902,000 after buying an additional 7,340 shares in the last quarter. 94.97% of the stock is owned by hedge funds and other institutional investors.
About Cabot Microelectronics Corporation
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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