Versum Materials Inc. (VSM) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Versum Materials Inc. (NYSE:VSM) from a hold rating to a buy rating in a report issued on Wednesday, July 5th. They currently have $36.00 price target on the basic materials company’s stock.
According to Zacks, “Versum Materials, Inc. is an electronic materials supplier to the semiconductor industry. The company’s primary business segment consists of Materials and Delivery Systems and Services. It provides specialty process gas, cleaners and etchants, slurries, organosilanes and organometallics deposition films and equipment. Versum Materials, Inc. is headquartered in Tempe, Arizona. “
Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group set a $33.00 price target on shares of Versum Materials and gave the stock a buy rating in a report on Tuesday, May 2nd. Aegis began coverage on shares of Versum Materials in a report on Friday, March 17th. They issued a hold rating and a $33.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $34.30.
Shares of Versum Materials (NYSE:VSM) traded down 0.31% during trading on Wednesday, hitting $35.71. 221,279 shares of the stock traded hands. The firm has a 50-day moving average of $33.29 and a 200-day moving average of $30.95. Versum Materials has a 1-year low of $21.86 and a 1-year high of $37.40. The firm has a market capitalization of $3.89 billion and a price-to-earnings ratio of 20.18.
Versum Materials (NYSE:VSM) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The firm had revenue of $290.80 million for the quarter, compared to analyst estimates of $265.64 million. During the same quarter last year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts forecast that Versum Materials will post $1.85 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 3rd.
A number of large investors have recently bought and sold shares of VSM. Piedmont Investment Advisors LLC boosted its position in shares of Versum Materials by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 20,484 shares of the basic materials company’s stock worth $627,000 after buying an additional 179 shares in the last quarter. Youngs Advisory Group Inc. boosted its position in shares of Versum Materials by 0.4% in the first quarter. Youngs Advisory Group Inc. now owns 44,064 shares of the basic materials company’s stock worth $1,348,000 after buying an additional 192 shares in the last quarter. Comerica Bank boosted its position in shares of Versum Materials by 0.3% in the second quarter. Comerica Bank now owns 113,125 shares of the basic materials company’s stock worth $4,043,000 after buying an additional 287 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Versum Materials by 1.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 20,574 shares of the basic materials company’s stock worth $669,000 after buying an additional 309 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Versum Materials by 0.5% in the second quarter. Great West Life Assurance Co. Can now owns 66,277 shares of the basic materials company’s stock worth $2,153,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.
About Versum Materials
Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.
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