Cabot Microelectronics Co. (NASDAQ:CCMP) insider David H. Li sold 27,425 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $114.28, for a total transaction of $3,134,129.00. Following the completion of the transaction, the insider now owns 78,683 shares in the company, valued at $8,991,893.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of CCMP opened at $118.26 on Friday. The firm has a market cap of $3.44 billion, a P/E ratio of 22.66 and a beta of 1.39. The stock has a 50 day simple moving average of $114.41 and a two-hundred day simple moving average of $111.62. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.06 and a quick ratio of 2.12. Cabot Microelectronics Co. has a 1 year low of $82.24 and a 1 year high of $129.94.
Cabot Microelectronics (NASDAQ:CCMP) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.01). The firm had revenue of $271.88 million during the quarter, compared to analysts’ expectations of $266.80 million. Cabot Microelectronics had a return on equity of 19.78% and a net margin of 11.76%. On average, equities analysts anticipate that Cabot Microelectronics Co. will post 6.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Tuesday, June 25th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, June 24th. Cabot Microelectronics’s dividend payout ratio is currently 32.18%.
Several research firms recently weighed in on CCMP. Zacks Investment Research cut shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research report on Wednesday. Seaport Global Securities restated a “buy” rating on shares of Cabot Microelectronics in a research report on Wednesday, August 7th. CL King began coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They issued a “buy” rating and a $125.00 price objective on the stock. Goldman Sachs Group began coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They issued a “buy” rating and a $148.00 price objective on the stock. Finally, BidaskClub cut shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $129.20.
Institutional investors and hedge funds have recently modified their holdings of the business. Bremer Bank National Association purchased a new stake in Cabot Microelectronics in the first quarter worth approximately $32,000. Huntington National Bank boosted its stake in Cabot Microelectronics by 81.1% in the second quarter. Huntington National Bank now owns 306 shares of the semiconductor company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Cabot Microelectronics by 121.2% in the first quarter. Quadrant Capital Group LLC now owns 427 shares of the semiconductor company’s stock worth $44,000 after buying an additional 234 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Cabot Microelectronics in the second quarter worth approximately $44,000. Finally, Private Capital Group LLC boosted its stake in Cabot Microelectronics by 24.7% in the first quarter. Private Capital Group LLC now owns 474 shares of the semiconductor company’s stock worth $53,000 after buying an additional 94 shares in the last quarter. 98.60% of the stock is owned by institutional investors and hedge funds.
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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