Cabot Microelectronics Corporation (NASDAQ:CCMP) – Investment analysts at Seaport Global Securities lifted their FY2017 earnings estimates for Cabot Microelectronics Corporation in a report issued on Wednesday. Seaport Global Securities analyst M. Harrison now forecasts that the semiconductor company will post earnings of $3.38 per share for the year, up from their previous estimate of $3.36. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Cabot Microelectronics Corporation’s Q4 2017 earnings at $0.88 EPS, Q1 2018 earnings at $0.91 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $1.03 EPS, Q4 2018 earnings at $1.06 EPS and FY2018 earnings at $3.87 EPS.

A number of other equities analysts have also recently commented on the stock. Needham & Company LLC raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, Loop Capital assumed coverage on shares of Cabot Microelectronics Corporation in a research note on Thursday, September 28th. They issued a “buy” rating and a $94.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Cabot Microelectronics Corporation has a consensus rating of “Hold” and an average price target of $84.67.

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Cabot Microelectronics Corporation (CCMP) traded up 0.50% during trading on Thursday, reaching $85.08. The company’s stock had a trading volume of 44,204 shares. The company has a market cap of $2.15 billion, a P/E ratio of 26.54 and a beta of 1.47. Cabot Microelectronics Corporation has a 52 week low of $50.66 and a 52 week high of $86.31. The company’s 50 day moving average price is $77.27 and its 200 day moving average price is $75.39.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.03). The business had revenue of $128.00 million during the quarter, compared to analyst estimates of $122.17 million. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The business’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. raised its position in shares of Cabot Microelectronics Corporation by 254.9% during the second quarter. Eagle Asset Management Inc. now owns 146,483 shares of the semiconductor company’s stock valued at $10,814,000 after buying an additional 105,214 shares during the last quarter. Vanguard Group Inc. increased its position in Cabot Microelectronics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock worth $168,125,000 after purchasing an additional 154,495 shares during the last quarter. Arizona State Retirement System increased its position in Cabot Microelectronics Corporation by 0.8% in the second quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock worth $971,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Cabot Microelectronics Corporation by 15.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,587 shares of the semiconductor company’s stock worth $276,000 after purchasing an additional 486 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in Cabot Microelectronics Corporation in the second quarter worth $36,933,000. Institutional investors own 93.85% of the company’s stock.

In other news, Director Barbara A. Klein sold 12,502 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.69, for a total transaction of $896,268.38. Following the sale, the director now owns 34,561 shares of the company’s stock, valued at approximately $2,477,678.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William S. Johnson sold 11,806 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $73.77, for a total transaction of $870,928.62. Following the sale, the insider now directly owns 94,911 shares in the company, valued at approximately $7,001,584.47. The disclosure for this sale can be found here. Insiders sold a total of 24,740 shares of company stock valued at $1,799,554 over the last 90 days. Company insiders own 5.50% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Monday, September 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 22nd. This represents a $0.80 annualized dividend and a yield of 0.94%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 25.08%.

Cabot Microelectronics Corporation Company Profile

Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.

Earnings History and Estimates for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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