StockNews.com Initiates Coverage on CMC Materials (NASDAQ:CCMP)

Research analysts at StockNews.com initiated coverage on shares of CMC Materials (NASDAQ:CCMPGet Rating) in a report released on Saturday. The brokerage set a “buy” rating on the semiconductor company’s stock.

CMC Materials Stock Performance

CCMP opened at $173.69 on Friday. The firm has a market cap of $4.97 billion, a P/E ratio of 45.47 and a beta of 1.09. CMC Materials has a 12 month low of $119.19 and a 12 month high of $197.00. The company has a current ratio of 3.15, a quick ratio of 2.22 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $173.67 and a 200 day moving average of $177.31.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of CMC Materials by 0.5% during the first quarter. BlackRock Inc. now owns 3,194,557 shares of the semiconductor company’s stock valued at $592,270,000 after buying an additional 14,637 shares during the period. Pentwater Capital Management LP boosted its position in shares of CMC Materials by 180.0% during the second quarter. Pentwater Capital Management LP now owns 1,470,000 shares of the semiconductor company’s stock valued at $256,500,000 after buying an additional 945,000 shares during the period. JPMorgan Chase & Co. boosted its position in shares of CMC Materials by 95.6% during the second quarter. JPMorgan Chase & Co. now owns 1,419,132 shares of the semiconductor company’s stock valued at $247,625,000 after buying an additional 693,584 shares during the period. State Street Corp boosted its position in shares of CMC Materials by 2.6% during the first quarter. State Street Corp now owns 889,173 shares of the semiconductor company’s stock valued at $165,255,000 after buying an additional 22,358 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of CMC Materials by 12.6% during the second quarter. Goldman Sachs Group Inc. now owns 870,714 shares of the semiconductor company’s stock valued at $151,931,000 after buying an additional 97,702 shares during the period. Hedge funds and other institutional investors own 93.72% of the company’s stock.

About CMC Materials

(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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