Aegis Capital Upgrades Cabot Microelectronics Corporation to Buy

Brokerage firm Aegis Capital Upgrades its rating on Cabot Microelectronics Corporation(CCMP). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by the stock financial advisor at Aegis Capital was issued on Mar 17, 2017 in a research report to their Investors and Clients.

Cabot Microelectronics Corporation (CCMP) made into the market gainers list on Wednesdays trading session with the shares advancing 0.59% or 0.43 points. Due to strong positive momentum, the stock ended at $72.89, which is also near the day’s high of $73. The stock began the session at $72.3 and the volume stood at 1,40,348 shares. The 52-week high of the shares is $75.05 and the 52 week low is $38.37. The company has a current market capitalization of $1,824 M and it has 2,50,29,129 shares in outstanding.

Cabot Microelectronics Corporation(CCMP) last announced its earnings results on Jan 26, 2017 for Fiscal Year 2017 and Q1.Company reported revenue of $123.254M. Analysts had an estimated revenue of $115.650M. Earnings per share were $0.92. Analysts had estimated an EPS of $0.74.

Several Insider Transactions has been reported to the SEC. On Mar 10, 2017, Bernstein H Carol Eckstein (VP, Sec & General Counsel) sold 20,700 shares at $69.52 per share price.Also, On Feb 24, 2017, Lisa A Polezoes (VP, Human Resources) sold 12,600 shares at $69.54 per share price.On Feb 22, 2017, Thomas S Roman (Corporate Controller) sold 1,681 shares at $69.94 per share price, according to the Form-4 filing with the securities and exchange commission.

Cabot Microelectronics Corporation is a supplier of polishing slurries and a growing polishing pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry in a process called chemical mechanical planarization (CMP). The Company is into the development manufacture and sale of CMP consumables products. It also develops produces and sells CMP slurries for polishing many of the conducting insulating and isolating materials used in IC devices and also for polishing the disk substrates and magnetic heads used in hard disk drives. The Company also develops manufactures and sells CMP polishing pads which are used in conjunction with slurries in the CMP process.

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