Cabot Microelectronics Co. (CCMP) Plans Quarterly Dividend of $0.40
Cabot Microelectronics Co. (NASDAQ:CCMP) declared a quarterly dividend on Wednesday, September 26th, RTT News reports. Stockholders of record on Tuesday, October 9th will be given a dividend of 0.40 per share by the semiconductor company on Tuesday, October 30th. This represents a $1.60 annualized dividend and a dividend yield of 1.56%.
Cabot Microelectronics has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cabot Microelectronics to earn $5.64 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 28.4%.
Shares of Cabot Microelectronics stock opened at $102.27 on Thursday. Cabot Microelectronics has a one year low of $73.70 and a one year high of $123.76. The company has a market cap of $2.67 billion, a P/E ratio of 28.73 and a beta of 1.32.
CCMP has been the subject of several recent analyst reports. BidaskClub raised Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 30th. Zacks Investment Research cut Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Loop Capital lifted their price objective on Cabot Microelectronics from $123.00 to $134.00 and gave the company a “positive” rating in a research note on Friday, July 27th. Finally, ValuEngine lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $115.00.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers.
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