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

CMC Materials, Inc. (NASDAQ:CCMPGet Rating) has been given an average recommendation of “Hold” by the eleven analysts that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $194.17.

Several research firms have recently issued reports on CCMP. StockNews.com raised shares of CMC Materials from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Zacks Investment Research raised shares of CMC Materials from a “hold” rating to a “buy” rating and set a $196.00 price objective for the company in a research report on Monday, April 11th. CL King cut shares of CMC Materials from a “buy” rating to a “neutral” rating in a research report on Thursday, April 7th. Finally, Mizuho cut shares of CMC Materials from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $155.00 to $197.00 in a research report on Friday, February 4th.

In other CMC Materials news, Director Susan M. Whitney sold 7,500 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $177.99, for a total value of $1,334,925.00. Following the sale, the director now owns 12,047 shares of the company’s stock, valued at $2,144,245.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CCMP. Public Employees Retirement System of Ohio lifted its stake in shares of CMC Materials by 10.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 616 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 59 shares during the period. Eaton Vance Management increased its position in CMC Materials by 2.3% during the fourth quarter. Eaton Vance Management now owns 3,031 shares of the semiconductor company’s stock worth $486,000 after purchasing an additional 68 shares during the last quarter. Comerica Bank increased its position in CMC Materials by 0.5% during the fourth quarter. Comerica Bank now owns 15,408 shares of the semiconductor company’s stock worth $2,717,000 after purchasing an additional 78 shares during the last quarter. Signaturefd LLC increased its position in shares of CMC Materials by 32.8% in the fourth quarter. Signaturefd LLC now owns 320 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 79 shares in the last quarter. Finally, Ellevest Inc. increased its position in shares of CMC Materials by 16.0% in the fourth quarter. Ellevest Inc. now owns 579 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 80 shares in the last quarter. 93.72% of the stock is currently owned by institutional investors.

Shares of CCMP stock opened at $172.63 on Monday. The company has a quick ratio of 2.22, a current ratio of 3.15 and a debt-to-equity ratio of 0.95. CMC Materials has a 52 week low of $119.19 and a 52 week high of $197.00. The stock has a market capitalization of $4.94 billion, a PE ratio of 45.19 and a beta of 1.14. The firm has a 50 day moving average of $180.28 and a two-hundred day moving average of $174.59.

CMC Materials (NASDAQ:CCMPGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. CMC Materials had a net margin of 8.85% and a return on equity of 23.55%. The company had revenue of $324.13 million during the quarter, compared to analysts’ expectations of $312.90 million. During the same quarter last year, the company posted $1.71 EPS. Analysts expect that CMC Materials will post 7.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Wednesday, March 23rd were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, March 22nd. This represents a $1.84 annualized dividend and a yield of 1.07%. CMC Materials’s payout ratio is currently 48.17%.

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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Analyst Recommendations for CMC Materials (NASDAQ:CCMP)

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