Cabot Microelectronics Corp. (CCMP) Trading Up 5.2%
Cabot Microelectronics Corp. (NASDAQ:CCMP)’s share price was up 5.2% during mid-day trading on Friday . The stock traded as high as $45.00 and last traded at $45.00, with a volume of 58,571 shares trading hands. The stock had previously closed at $42.76.
Several equities analysts have recently issued reports on CCMP shares. Zacks Investment Research raised shares of Cabot Microelectronics Corp. from a “sell” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Monday, March 28th. TheStreet raised shares of Cabot Microelectronics Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, April 7th.
The firm has a 50 day moving average of $42.69 and a 200-day moving average of $41.04. The stock has a market capitalization of $1.09 billion and a P/E ratio of 26.19.
Cabot Microelectronics Corp. (NASDAQ:CCMP) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.48 by $0.07. The company had revenue of $99.20 million for the quarter, compared to the consensus estimate of $102.30 million. During the same period in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Cabot Microelectronics Corp. will post $2.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 23rd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, June 21st. This represents a $0.72 annualized dividend and a yield of 1.59%.
In related news, VP Lisa A. Polezoes sold 2,834 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $43.27, for a total transaction of $122,627.18. Following the completion of the transaction, the vice president now owns 16,292 shares of the company’s stock, valued at $704,954.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Other institutional investors recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its position in Cabot Microelectronics Corp. by 318.5% in the fourth quarter. Schroder Investment Management Group now owns 480,040 shares of the company’s stock worth $21,016,000 after buying an additional 365,342 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cabot Microelectronics Corp. by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 166,088 shares of the company’s stock worth $7,272,000 after buying an additional 6,471 shares in the last quarter. SECOR Capital Advisors LP bought a new position in Cabot Microelectronics Corp. during the fourth quarter worth approximately $1,580,000. Oxford Asset Management bought a new position in Cabot Microelectronics Corp. during the fourth quarter worth approximately $2,757,000. Finally, Rhumbline Advisers boosted its position in Cabot Microelectronics Corp. by 8.8% in the fourth quarter. Rhumbline Advisers now owns 32,866 shares of the company’s stock worth $1,439,000 after buying an additional 2,650 shares in the last quarter.
Cabot Microelectronics Corporation is a supplier of polishing slurries and a growing polishing pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is into the development, manufacture and sale of CMP consumables products.
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