Separately, Zacks Investment Research cut Cabot Microelectronics from a buy rating to a hold rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $124.33.
Cabot Microelectronics stock opened at $108.00 on Tuesday. Cabot Microelectronics has a 1-year low of $82.24 and a 1-year high of $129.94. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.40 and a current ratio of 3.40. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 20.69 and a beta of 1.39.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.06). Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%. The business had revenue of $265.39 million during the quarter, compared to analyst estimates of $273.30 million. As a group, analysts anticipate that Cabot Microelectronics will post 6.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Tuesday, June 25th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Monday, June 24th. Cabot Microelectronics’s dividend payout ratio is presently 32.18%.
In other Cabot Microelectronics news, Director Barbara A. Klein sold 3,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $108.28, for a total value of $324,840.00. Following the sale, the director now directly owns 26,104 shares in the company, valued at $2,826,541.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Cabot Microelectronics by 2.4% in the first quarter. BlackRock Inc. now owns 4,271,276 shares of the semiconductor company’s stock valued at $478,210,000 after buying an additional 100,375 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in shares of Cabot Microelectronics by 8.1% during the fourth quarter. Ceredex Value Advisors LLC now owns 992,370 shares of the semiconductor company’s stock worth $95,019,000 after purchasing an additional 74,212 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cabot Microelectronics by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the semiconductor company’s stock worth $87,632,000 after purchasing an additional 22,350 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Cabot Microelectronics by 13.8% during the first quarter. Wells Fargo & Company MN now owns 703,894 shares of the semiconductor company’s stock worth $78,809,000 after purchasing an additional 85,551 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Cabot Microelectronics by 20.6% during the first quarter. Royce & Associates LP now owns 646,060 shares of the semiconductor company’s stock worth $72,333,000 after purchasing an additional 110,404 shares during the last quarter. Institutional investors own 99.08% of the company’s stock.
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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