Zacks Investment Research upgraded shares of Cabot Microelectronics (NASDAQ:CCMP) from a sell rating to a hold rating in a report released on Thursday morning.

According to Zacks, “Cabot Microelectronics Corporation is the leading supplier of CMP slurries for polishing various materials used in semiconductor manufacturing processes. The company’s products play a critical role in the production of the most advanced semiconductor devices, enabling the manufacture of smaller, faster and more complex devices by its customers. Cabot Microelectronics has demonstrated consistent, steady growth and is the leader in the CMP Industry, as well as part of the dynamic, high-growth Consumer Electronics Industry, enabling the manufacture of leading edge devices in on of the most innovative industries in the world. “

Other equities analysts also recently issued reports about the stock. Loop Capital set a $123.00 price objective on shares of Cabot Microelectronics and gave the stock a buy rating in a research note on Thursday, November 29th. Buckingham Research began coverage on shares of Cabot Microelectronics in a research note on Thursday, November 29th. They set a buy rating and a $130.00 price objective for the company. Finally, BidaskClub upgraded shares of Cabot Microelectronics from a sell rating to a hold rating in a research note on Thursday, October 18th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $124.00.

Cabot Microelectronics stock opened at $97.71 on Thursday. Cabot Microelectronics has a one year low of $82.24 and a one year high of $123.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.24 and a quick ratio of 2.39. The stock has a market cap of $2.83 billion, a PE ratio of 18.72 and a beta of 1.17.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Wednesday, February 6th. The semiconductor company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.47. Cabot Microelectronics had a net margin of 18.83% and a return on equity of 21.57%. The company had revenue of $221.80 million during the quarter, compared to the consensus estimate of $217.90 million. During the same period in the prior year, the business posted $1.19 EPS. The company’s quarterly revenue was up 58.5% on a year-over-year basis. On average, sell-side analysts expect that Cabot Microelectronics will post 6.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Friday, December 21st were paid a $0.40 dividend. The ex-dividend date was Thursday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.64%. Cabot Microelectronics’s dividend payout ratio (DPR) is currently 30.65%.

In related news, Director Barbara A. Klein sold 5,635 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $102.68, for a total value of $578,601.80. Following the completion of the sale, the director now directly owns 33,830 shares in the company, valued at approximately $3,473,664.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ananth Naman sold 7,539 shares of the firm’s stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $97.08, for a total transaction of $731,886.12. Following the completion of the sale, the vice president now owns 13,230 shares of the company’s stock, valued at $1,284,368.40. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Cabot Microelectronics by 13.5% in the 4th quarter. BlackRock Inc. now owns 4,170,901 shares of the semiconductor company’s stock valued at $397,697,000 after purchasing an additional 496,619 shares during the last quarter. Vanguard Group Inc lifted its stake in Cabot Microelectronics by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 2,735,222 shares of the semiconductor company’s stock valued at $282,193,000 after purchasing an additional 116,779 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cabot Microelectronics by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,735,222 shares of the semiconductor company’s stock valued at $282,193,000 after purchasing an additional 116,779 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Cabot Microelectronics by 1.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,155,080 shares of the semiconductor company’s stock valued at $119,170,000 after purchasing an additional 18,590 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in Cabot Microelectronics by 8.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 992,370 shares of the semiconductor company’s stock valued at $95,019,000 after purchasing an additional 74,212 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

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 chemical mechanical planarization (CMP) process. It provides CMP slurries, which are liquid solutions composed of high-purity deionized water, proprietary chemical additives, and engineered abrasives that chemically and mechanically interact with the surface material of the IC device at an atomic level; and CMP pads that are engineered polymeric materials designed to distribute and transport the slurry to the surface of the wafer and distribute it evenly across the wafer.

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