CMC Materials, Inc. (NASDAQ:CCMP) has been assigned an average recommendation of "Hold" from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $160.13.
Several equities research analysts recently weighed in on the company. Seaport Res Ptn upgraded CMC Materials from a "neutral" rating to a "buy" rating in a research note on Tuesday, June 8th. Seaport Global Securities upgraded CMC Materials from a "neutral" rating to a "buy" rating and set a $180.00 target price for the company in a research note on Tuesday, June 8th. Zacks Investment Research cut CMC Materials from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 11th. Wolfe Research began coverage on CMC Materials in a research note on Wednesday, June 9th. They set an "underperform" rating and a $152.00 target price for the company. Finally, Berenberg Bank upgraded CMC Materials from a "hold" rating to a "buy" rating and boosted their price objective for the company from $175.00 to $180.00 in a research note on Wednesday, June 9th.
Shares of CMC Materials stock opened at $127.64 on Wednesday. CMC Materials has a one year low of $119.19 and a one year high of $198.60. The company has a market cap of $3.73 billion, a PE ratio of -75.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.17 and a current ratio of 3.03. The business has a 50-day simple moving average of $134.20 and a 200-day simple moving average of $154.79.
CMC Materials (NASDAQ:CCMP) last announced its quarterly earnings data on Tuesday, August 3rd. The semiconductor company reported $1.86 EPS for the quarter, missing the Zacks' consensus estimate of $2.00 by ($0.14). The company had revenue of $309.52 million for the quarter, compared to analyst estimates of $308.54 million. CMC Materials had a positive return on equity of 21.41% and a negative net margin of 4.11%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 earnings per share. On average, sell-side analysts predict that CMC Materials will post 7.49 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in CMC Materials by 15.4% during the second quarter. Bank of America Corp DE now owns 384,207 shares of the semiconductor company's stock worth $57,914,000 after acquiring an additional 51,169 shares during the period. Parametric Portfolio Associates LLC grew its holdings in CMC Materials by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 54,152 shares of the semiconductor company's stock valued at $8,163,000 after purchasing an additional 168 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in CMC Materials in the second quarter valued at $430,000. Marshall Wace LLP acquired a new stake in CMC Materials in the second quarter valued at $2,245,000. Finally, Marshall Wace North America L.P. acquired a new stake in CMC Materials in the second quarter valued at $808,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.
CMC Materials Company Profile
CMC Materials, Inc engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. It operates through the following segments: Electronic Materials and Performance Material. The Electronic Materials segment consists of CMP slurries and polishing pads businesses and KMG electronic chemicals business.
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