Marks Group Wealth Management Inc raised its position in CMC Materials, Inc. (NASDAQ:CCMP) by 8.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 36,057 shares of the semiconductor company’s stock after purchasing an additional 2,942 shares during the period. Marks Group Wealth Management Inc owned about 0.12% of CMC Materials worth $5,434,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CCMP. Van ECK Associates Corp acquired a new stake in shares of CMC Materials during the first quarter valued at $25,000. Harvest Fund Management Co. Ltd purchased a new position in shares of CMC Materials in the 1st quarter worth about $30,000. Ceredex Value Advisors LLC purchased a new stake in shares of CMC Materials during the 2nd quarter valued at about $30,000. Rockefeller Capital Management L.P. raised its holdings in shares of CMC Materials by 152.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 225 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 136 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of CMC Materials during the 2nd quarter valued at about $43,000. 94.80% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the company. Wolfe Research upgraded CMC Materials from an “underperform” rating to a “market perform” rating in a research report on Wednesday. Seaport Global Securities upgraded CMC Materials from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Tuesday, June 8th. Zacks Investment Research lowered CMC Materials from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 11th. Seaport Res Ptn raised CMC Materials from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 8th. Finally, Berenberg Bank raised CMC Materials from a “hold” rating to a “buy” rating and lifted their target price for the company from $175.00 to $180.00 in a research note on Wednesday, June 9th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, CMC Materials has a consensus rating of “Hold” and an average target price of $165.67.
CMC Materials (NASDAQ:CCMP) last posted 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 firm had revenue of $309.52 million during the quarter, compared to the consensus estimate of $308.54 million. CMC Materials had a positive return on equity of 21.41% and a negative net margin of 4.11%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 EPS. On average, equities analysts forecast that CMC Materials, Inc. will post 7.49 earnings per share for the current year.
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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