Cabot Microelectronics Co. (NASDAQ:CCMP) Director Richard Hill sold 4,811 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $111.69, for a total value of $537,340.59. Following the completion of the transaction, the director now owns 14,822 shares of the company’s stock, valued at $1,655,469.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Cabot Microelectronics Co. (CCMP) opened at $112.45 on Tuesday. The company has a market capitalization of $2,925.07, a price-to-earnings ratio of 29.82 and a beta of 1.41. Cabot Microelectronics Co. has a 12 month low of $68.00 and a 12 month high of $115.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.53 and a quick ratio of 5.71.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.17. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The firm had revenue of $140.00 million during the quarter, compared to the consensus estimate of $137.90 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. equities analysts predict that Cabot Microelectronics Co. will post 4.71 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CCMP. Neuberger Berman Group LLC grew its position in Cabot Microelectronics by 97.2% during the third quarter. Neuberger Berman Group LLC now owns 986,513 shares of the semiconductor company’s stock valued at $78,852,000 after acquiring an additional 486,275 shares during the period. Renaissance Technologies LLC grew its position in Cabot Microelectronics by 28.6% during the fourth quarter. Renaissance Technologies LLC now owns 988,917 shares of the semiconductor company’s stock valued at $93,037,000 after acquiring an additional 219,708 shares during the period. Standard Life Aberdeen plc purchased a new stake in Cabot Microelectronics during the fourth quarter valued at about $11,492,000. Millennium Management LLC grew its position in Cabot Microelectronics by 62.1% during the fourth quarter. Millennium Management LLC now owns 302,976 shares of the semiconductor company’s stock valued at $28,504,000 after acquiring an additional 116,046 shares during the period. Finally, Royce & Associates LP grew its position in Cabot Microelectronics by 17.0% during the third quarter. Royce & Associates LP now owns 724,192 shares of the semiconductor company’s stock valued at $57,885,000 after acquiring an additional 105,067 shares during the period. 95.12% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the company. BidaskClub upgraded Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 target price (up from $110.00) on shares of Cabot Microelectronics in a research note on Friday, January 26th. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Thursday, February 1st. Seaport Global Securities reiterated a “buy” rating and issued a $112.00 target price on shares of Cabot Microelectronics in a research note on Monday, January 29th. Finally, Loop Capital upped their target price on Cabot Microelectronics from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 26th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Cabot Microelectronics currently has a consensus rating of “Buy” and an average price target of $110.40.
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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