Zacks Investment Research Downgrades Versum Materials Inc (VSM) to Hold

Zacks Investment Research cut shares of Versum Materials Inc (NYSE:VSM) from a buy rating to a hold rating in a research note published on Wednesday, October 18th.

According to Zacks, “Versum Materials, Inc. is an electronic materials supplier to the semiconductor industry. The company’s primary business segment consists of Materials and Delivery Systems and Services. It provides specialty process gas, cleaners and etchants, slurries, organosilanes and organometallics deposition films and equipment. Versum Materials, Inc. is headquartered in Tempe, Arizona. “

Several other brokerages also recently issued reports on VSM. ValuEngine downgraded Versum Materials from a buy rating to a hold rating in a research report on Monday, October 2nd. Loop Capital assumed coverage on shares of Versum Materials in a research note on Thursday, September 28th. They issued a buy rating and a $47.00 target price for the company. Stifel Nicolaus assumed coverage on shares of Versum Materials in a research note on Wednesday, September 20th. They issued a hold rating and a $42.00 target price for the company. Needham & Company LLC reiterated a buy rating and issued a $41.00 target price on shares of Versum Materials in a research note on Tuesday, September 5th. Finally, Credit Suisse Group set a $40.00 price target on shares of Versum Materials and gave the stock a buy rating in a research note on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Versum Materials presently has an average rating of Buy and a consensus target price of $38.20.

Versum Materials (VSM) traded up $0.58 during trading on Wednesday, reaching $42.13. 337,978 shares of the company’s stock traded hands, compared to its average volume of 352,885. Versum Materials has a 52-week low of $22.24 and a 52-week high of $42.50. The company has a debt-to-equity ratio of -100.82, a quick ratio of 3.34 and a current ratio of 4.36.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.20 annualized dividend and a yield of 0.47%.

A number of large investors have recently modified their holdings of VSM. Alliancebernstein L.P. lifted its position in Versum Materials by 120.3% during the 1st quarter. Alliancebernstein L.P. now owns 142,540 shares of the basic materials company’s stock worth $4,362,000 after buying an additional 77,828 shares in the last quarter. OppenheimerFunds Inc. acquired a new position in shares of Versum Materials during the 1st quarter worth about $254,000. Principal Financial Group Inc. increased its stake in shares of Versum Materials by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 437,963 shares of the basic materials company’s stock worth $13,402,000 after purchasing an additional 10,528 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Versum Materials by 17.5% during the 1st quarter. Wellington Management Group LLP now owns 66,347 shares of the basic materials company’s stock worth $2,030,000 after purchasing an additional 9,902 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Versum Materials by 27.7% during the 1st quarter. FMR LLC now owns 224,634 shares of the basic materials company’s stock worth $6,874,000 after purchasing an additional 48,724 shares during the last quarter. 90.27% of the stock is currently owned by hedge funds and other institutional investors.

Versum Materials Company Profile

Versum Materials, Inc is a provider of solutions to the semiconductor and display industries. The Company is engaged in the development, manufacturing, transportation and handling of specialty materials. Its segments include Materials; Delivery Systems and Services (DS&S), and Corporate. The Materials segment is an integrated provider of specialty materials for the electronics industry, focusing on the integrated circuit and flat-panel display markets.

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Analyst Recommendations for Versum Materials (NYSE:VSM)

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