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

StockNews.com assumed coverage on shares of CMC Materials (NASDAQ:CCMPGet Rating) in a research note issued to investors on Saturday morning. The brokerage issued a buy rating on the semiconductor company’s stock.

CMC Materials Price Performance

Shares of NASDAQ:CCMP opened at $173.69 on Friday. The business has a 50 day simple moving average of $173.67 and a two-hundred day simple moving average of $177.27. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.15 and a quick ratio of 2.22. CMC Materials has a 1 year low of $119.19 and a 1 year high of $197.00. The firm has a market capitalization of $4.97 billion, a PE ratio of 45.47 and a beta of 1.09.

Institutional Investors Weigh In On CMC Materials

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its position in shares of CMC Materials by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 7,745 shares of the semiconductor company’s stock valued at $1,351,000 after acquiring an additional 61 shares during the period. Eaton Vance Management grew its position in shares of CMC Materials by 2.3% during the 4th quarter. Eaton Vance Management now owns 3,031 shares of the semiconductor company’s stock valued at $486,000 after acquiring an additional 68 shares during the period. State of Alaska Department of Revenue lifted its stake in CMC Materials by 2.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,106 shares of the semiconductor company’s stock valued at $716,000 after buying an additional 85 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in CMC Materials by 72.0% in the 4th quarter. First Horizon Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 90 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in CMC Materials by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 7,254 shares of the semiconductor company’s stock valued at $1,345,000 after buying an additional 92 shares in the last quarter. 93.72% of the stock is owned by institutional investors and hedge funds.

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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