CMC Materials (NASDAQ:CCMP) Lifted to Buy at Seaport Global Securities

Seaport Global Securities upgraded shares of CMC Materials (NASDAQ:CCMP) from a neutral rating to a buy rating in a report released on Tuesday, Price Targets.com reports. Seaport Global Securities currently has $180.00 price target on the semiconductor company’s stock.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group cut their price target on shares of CMC Materials from $198.00 to $169.00 and set a neutral rating for the company in a report on Friday, May 7th. TheStreet downgraded shares of CMC Materials from an a- rating to a c rating in a report on Thursday, May 6th. Finally, Zacks Investment Research downgraded shares of CMC Materials from a buy rating to a hold rating in a report on Thursday, April 29th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $165.40.

Shares of NASDAQ:CCMP opened at $150.99 on Tuesday. The firm has a fifty day moving average price of $169.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.67 and a current ratio of 3.54. CMC Materials has a one year low of $126.53 and a one year high of $198.60. The company has a market cap of $4.42 billion, a P/E ratio of -92.07 and a beta of 1.17.

CMC Materials (NASDAQ:CCMP) last announced its quarterly earnings results on Wednesday, May 5th. The semiconductor company reported $1.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by ($0.23). CMC Materials had a negative net margin of 4.16% and a positive return on equity of 20.99%. The firm had revenue of $290.53 million during the quarter, compared to the consensus estimate of $298.59 million. During the same period in the previous year, the business earned $1.75 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that CMC Materials will post 7.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Wednesday, June 23rd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, June 22nd. CMC Materials’s payout ratio is presently 24.63%.

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp purchased a new position in CMC Materials in the 1st quarter worth $25,000. GPS Wealth Strategies Group LLC purchased a new position in CMC Materials in the 1st quarter worth $26,000. WASHINGTON TRUST Co purchased a new position in CMC Materials in the 1st quarter worth $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of CMC Materials in the first quarter valued at about $30,000. Finally, Vantage Consulting Group Inc purchased a new position in shares of CMC Materials in the fourth quarter valued at about $28,000. Institutional investors own 95.24% of the company’s stock.

CMC Materials Company Profile

CMC Materials, Inc, together with its subsidiaries, provides consumable materials to semiconductor manufacturers, and pipeline and adjacent industry customers in North America, Asia, Europe, the Middle East, Africa, and South America. The company operates through two segments, Electronic Materials and Performance Materials.

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Analyst Recommendations for CMC Materials (NASDAQ:CCMP)

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