Cabot Microelectronics (NASDAQ:CCMP) had its price objective lifted by Buckingham Research from $130.00 to $150.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on CCMP. Seaport Global Securities reissued a buy rating on shares of Cabot Microelectronics in a research report on Wednesday, August 7th. Goldman Sachs Group began coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They set a buy rating and a $148.00 price target for the company. BidaskClub raised shares of Cabot Microelectronics from a hold rating to a buy rating in a research report on Thursday, September 5th. Zacks Investment Research cut shares of Cabot Microelectronics from a hold rating to a sell rating in a research report on Wednesday, August 14th. Finally, CL King began coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They set a buy rating and a $125.00 price target for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $133.20.

CCMP traded down $0.84 during trading on Thursday, hitting $138.22. 218,100 shares of the stock traded hands, compared to its average volume of 244,237. The firm has a market capitalization of $3.90 billion, a P/E ratio of 26.48 and a beta of 1.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.06 and a quick ratio of 2.12. The firm has a 50-day moving average of $121.79 and a 200 day moving average of $114.67. Cabot Microelectronics has a 12-month low of $82.24 and a 12-month high of $140.62.

Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.01). The firm had revenue of $271.88 million for the quarter, compared to analysts’ expectations of $266.80 million. Cabot Microelectronics had a net margin of 11.76% and a return on equity of 21.77%. As a group, equities analysts predict that Cabot Microelectronics will post 6.68 EPS for the current fiscal year.

In other news, insider David H. Li sold 27,425 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $114.28, for a total value of $3,134,129.00. Following the completion of the sale, the insider now directly owns 78,683 shares of the company’s stock, valued at approximately $8,991,893.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barbara A. Klein sold 5,196 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $123.38, for a total transaction of $641,082.48. Following the completion of the sale, the director now directly owns 34,808 shares of the company’s stock, valued at $4,294,611.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,758 shares of company stock valued at $4,133,175. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of CCMP. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Cabot Microelectronics in the 1st quarter worth about $63,551,000. Victory Capital Management Inc. lifted its position in shares of Cabot Microelectronics by 151.1% in the 2nd quarter. Victory Capital Management Inc. now owns 477,276 shares of the semiconductor company’s stock worth $52,539,000 after purchasing an additional 287,168 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Cabot Microelectronics in the 2nd quarter worth about $25,503,000. Westfield Capital Management Co. LP purchased a new stake in shares of Cabot Microelectronics in the 1st quarter worth about $22,056,000. Finally, Carlson Capital L P lifted its position in shares of Cabot Microelectronics by 114.8% in the 2nd quarter. Carlson Capital L P now owns 273,025 shares of the semiconductor company’s stock worth $30,055,000 after purchasing an additional 145,925 shares during the period. 99.66% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Cabot Microelectronics (NASDAQ:CCMP)

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