CMC Materials, Inc. (NASDAQ:CCMP) Given Average Recommendation of “Hold” by Brokerages

Shares of CMC Materials, Inc. (NASDAQ:CCMP – Get Rating) have earned a consensus rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $194.17.

Several brokerages have issued reports on CCMP. CL King downgraded shares of CMC Materials from a “buy” rating to a “neutral” rating in a research note on Thursday, April 7th. Mizuho downgraded CMC Materials from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $155.00 to $197.00 in a research note on Friday, February 4th. Zacks Investment Research raised CMC Materials from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a research note on Monday, April 11th. Finally, StockNews.com began coverage on shares of CMC Materials in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

NASDAQ:CCMP opened at $177.38 on Thursday. The company has a 50-day moving average of $182.25 and a 200-day moving average of $168.45. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -70.95 and a beta of 1.18. The company has a current ratio of 2.96, a quick ratio of 2.06 and a debt-to-equity ratio of 1.00. CMC Materials has a twelve month low of $119.19 and a twelve month high of $197.00.

CMC Materials (NASDAQ:CCMP – Get Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The semiconductor company reported $2.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.31. The company had revenue of $317.05 million for the quarter, compared to analysts’ expectations of $316.50 million. CMC Materials had a positive return on equity of 22.85% and a negative net margin of 5.91%. During the same quarter in the prior year, the company earned $1.92 earnings per share. On average, research analysts forecast that CMC Materials will post 7.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Wednesday, March 23rd were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Tuesday, March 22nd. CMC Materials’s dividend payout ratio (DPR) is currently -73.60%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Confluence Wealth Services Inc. bought a new stake in shares of CMC Materials in the 4th quarter worth approximately $37,000. Wolverine Asset Management LLC acquired a new stake in CMC Materials during the fourth quarter valued at approximately $38,000. First Horizon Advisors Inc. grew its stake in shares of CMC Materials by 72.0% in the 4th quarter. First Horizon Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 90 shares during the period. Signaturefd LLC raised its holdings in shares of CMC Materials by 32.8% in the 4th quarter. Signaturefd LLC now owns 320 shares of the semiconductor company’s stock worth $61,000 after buying an additional 79 shares in the last quarter. Finally, Sageworth Trust Co of South Dakota acquired a new position in shares of CMC Materials in the 4th quarter worth approximately $62,000. Institutional investors own 93.47% of the company’s stock.

CMC Materials Company Profile (Get Rating)

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 in two segments, Electronic Materials and Performance Materials.

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