Cabot Microelectronics Co. (CCMP) Insider Thomas S. Roman Sells 6,500 Shares
Cabot Microelectronics Co. (NASDAQ:CCMP) insider Thomas S. Roman sold 6,500 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $108.16, for a total value of $703,040.00. Following the completion of the transaction, the insider now owns 9,915 shares in the company, valued at approximately $1,072,406.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Cabot Microelectronics Co. (NASDAQ:CCMP) opened at $114.22 on Friday. Cabot Microelectronics Co. has a fifty-two week low of $68.00 and a fifty-two week high of $121.85. The company has a quick ratio of 5.71, a current ratio of 6.53 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2,925.06, a P/E ratio of 29.82 and a beta of 1.41.
Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.17. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The company had revenue of $140.00 million for the quarter, compared to analyst estimates of $137.90 million. During the same quarter last year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. sell-side analysts forecast that Cabot Microelectronics Co. will post 4.71 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of CCMP. The Manufacturers Life Insurance Company lifted its holdings in shares of Cabot Microelectronics by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 19,012 shares of the semiconductor company’s stock valued at $1,404,000 after purchasing an additional 931 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Cabot Microelectronics by 329.4% in the second quarter. Public Employees Retirement System of Ohio now owns 8,563 shares of the semiconductor company’s stock valued at $632,000 after purchasing an additional 6,569 shares in the last quarter. APG Asset Management N.V. bought a new position in shares of Cabot Microelectronics in the third quarter valued at approximately $2,502,000. Crossmark Global Holdings Inc. bought a new position in shares of Cabot Microelectronics in the third quarter valued at approximately $391,000. Finally, American Century Companies Inc. lifted its holdings in shares of Cabot Microelectronics by 4.4% in the third quarter. American Century Companies Inc. now owns 51,762 shares of the semiconductor company’s stock valued at $4,137,000 after purchasing an additional 2,191 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.
Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target (up previously from $110.00) on shares of Cabot Microelectronics in a report on Friday, January 26th. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Thursday, February 1st. Seaport Global Securities reiterated a “buy” rating and issued a $112.00 price target on shares of Cabot Microelectronics in a report on Monday, January 29th. BidaskClub upgraded Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday, February 23rd. Finally, Loop Capital increased their price target on Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 26th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $110.40.
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About Cabot Microelectronics
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.
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