How Analysts Feel About Cabot Microelectronics Corporation (CCMP) After Touching 52-Week High?

October 12, 2017 - By Henry Gaston

Investors sentiment increased to 1.81 in Q2 2017. Its up 0.41, from 1.4 in 2017Q1. It increased, as 14 investors sold Cabot Microelectronics Corporation shares while 58 reduced holdings. 42 funds opened positions while 88 raised stakes. 23.63 million shares or 2.42% more from 23.07 million shares in 2017Q1 were reported.
Aperio Ltd owns 0% invested in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 7,675 shares. Pinebridge L P holds 3,327 shares or 0.01% of its portfolio. Automobile Association holds 0.01% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 25,280 shares. Glenmede Tru Na stated it has 0% in Cabot Microelectronics Corporation (NASDAQ:CCMP). Hbk Invests Lp invested 0.01% in Cabot Microelectronics Corporation (NASDAQ:CCMP). Moreover, Brown Brothers Harriman And has 0% invested in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 11,436 shares. Fuller & Thaler Asset Mngmt invested 0.06% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP). Blackrock holds 0.01% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 3.15M shares. 46,316 were accumulated by Gotham Asset Management Limited Liability Company. Mckinley Cap Ltd Liability Corporation Delaware holds 0.14% or 51,776 shares. Wcm Investment Mngmt Ca has 18,665 shares. Wells Fargo & Mn accumulated 327,379 shares or 0.01% of the stock. Fiduciary Tru owns 127,060 shares. Prelude Capital Mgmt Ltd stated it has 600 shares or 0% of all its holdings. Aqr Capital Ltd Liability, a Connecticut-based fund reported 75,259 shares.

Since May 5, 2017, it had 0 insider buys, and 2 insider sales for $2.14 million activity. Another trade for 8,545 shares valued at $666,614 was sold by ROMAN THOMAS S. JOHNSON WILLIAM S also sold $1.48M worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) shares.

The stock of Cabot Microelectronics Corporation (NASDAQ:CCMP) hit a new 52-week high and has $86.43 target or 5.00 % above today’s $82.31 share price. The 7 months bullish chart indicates low risk for the $2.08 billion company. The 1-year high was reported on Oct, 12 by Barchart.com. If the $86.43 price target is reached, the company will be worth $104.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 12,897 shares traded. Cabot Microelectronics Corporation (NASDAQ:CCMP) has risen 87.31% since October 12, 2016 and is uptrending. It has outperformed by 70.61% the S&P500.

Analysts await Cabot Microelectronics Corporation (NASDAQ:CCMP) to report earnings on October, 26 before the open. They expect $0.86 EPS, down 5.49 % or $0.05 from last year’s $0.91 per share. CCMP’s profit will be $21.73M for 23.93 P/E if the $0.86 EPS becomes a reality. After $0.81 actual EPS reported by Cabot Microelectronics Corporation for the previous quarter, Wall Street now forecasts 6.17 % EPS growth.

Cabot Microelectronics Corporation (NASDAQ:CCMP) Ratings Coverage

Among 5 analysts covering Cabot Microelectronics (NASDAQ:CCMP), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Cabot Microelectronics had 9 analyst reports since August 3, 2015 according to SRatingsIntel. The stock of Cabot Microelectronics Corporation (NASDAQ:CCMP) has “Buy” rating given on Tuesday, June 27 by Needham. Citigroup downgraded the shares of CCMP in report on Thursday, February 11 to “Neutral” rating. Needham maintained it with “Buy” rating and $85.0 target in Monday, September 18 report. The firm earned “Buy” rating on Friday, March 17 by Aegis Capital. The firm has “Sell” rating by Zacks given on Friday, August 14.

More notable recent Cabot Microelectronics Corporation (NASDAQ:CCMP) news were published by: Seekingalpha.com which released: “Cabot Microelectronics’ (CCMP) CEO David Li on Q1 2017 Results – Earnings Call …” on January 26, 2017, also Seekingalpha.com with their article: “Cabot Microelectronics’ (CCMP) CEO David Li on Q3 2017 Results – Earnings Call …” published on July 27, 2017, Globenewswire.com published: “Cabot Microelectronics to Release Financial Results for Fourth Quarter and …” on October 05, 2017. More interesting news about Cabot Microelectronics Corporation (NASDAQ:CCMP) were released by: Globenewswire.com and their article: “Cabot Microelectronics Corporation Receives Outstanding Performance Supplier …” published on December 07, 2016 as well as Globenewswire.com‘s news article titled: “Cabot Microelectronics Corporation and Konfoong Materials International Co …” with publication date: November 07, 2016.

Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The company has market cap of $2.08 billion. The Firm is engaged in the development, manufacture and sale of CMP consumables. It has a 25.84 P/E ratio. The Firm develops, produces and sells CMP slurries for polishing conducting and insulating materials used in IC devices, and also for polishing the disk substrates and magnetic heads used in hard disk drives.

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