Cabot Microelectronics (NASDAQ:CCMP) Downgraded to “Hold” at BidaskClub

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Cabot Microelectronics (NASDAQ:CCMP) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, BidAskClub reports.

A number of other brokerages also recently commented on CCMP. ValuEngine downgraded shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Zacks Investment Research lowered shares of Cabot Microelectronics from a “buy” rating to a “sell” rating in a research report on Thursday, November 21st. Seaport Global Securities cut shares of Cabot Microelectronics from a “buy” rating to a “neutral” rating in a report on Wednesday, October 30th. Loop Capital downgraded shares of Cabot Microelectronics from a “buy” rating to a “hold” rating and set a $156.00 price objective on the stock. in a research report on Thursday, November 14th. Finally, TheStreet lowered shares of Cabot Microelectronics from an “a” rating to a “c+” rating in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Cabot Microelectronics currently has an average rating of “Hold” and an average price target of $151.20.

Shares of NASDAQ:CCMP opened at $123.39 on Wednesday. Cabot Microelectronics has a 12-month low of $82.24 and a 12-month high of $160.81. The business’s fifty day simple moving average is $145.54 and its 200-day simple moving average is $125.55. The company has a market capitalization of $3.88 billion, a PE ratio of 18.36 and a beta of 1.31. The company has a current ratio of 2.97, a quick ratio of 2.12 and a debt-to-equity ratio of 0.95.

Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Sunday, November 17th. The semiconductor company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. Cabot Microelectronics had a return on equity of 21.12% and a net margin of 3.78%. The firm had revenue of $278.65 million during the quarter, compared to analysts’ expectations of $278.90 million. Research analysts predict that Cabot Microelectronics will post 7.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of CCMP. NumerixS Investment Technologies Inc acquired a new position in shares of Cabot Microelectronics during the second quarter valued at about $44,000. Tower Research Capital LLC TRC purchased a new stake in Cabot Microelectronics during the 2nd quarter worth approximately $130,000. Griffin Asset Management Inc. acquired a new position in Cabot Microelectronics during the 2nd quarter valued at approximately $202,000. United Capital Financial Advisers LLC acquired a new position in Cabot Microelectronics during the 2nd quarter valued at approximately $206,000. Finally, Keybank National Association OH purchased a new position in shares of Cabot Microelectronics in the third quarter worth $212,000. 98.36% of the stock is owned by institutional investors and hedge funds.

Cabot Microelectronics Company Profile

Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.

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Analyst Recommendations for Cabot Microelectronics (NASDAQ:CCMP)

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