Soleil Securities Starts Cabot Microelectronics (CCMP) at Buy; A Gem Of A Company
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Price: $34.66 -1.59%
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade CCMP Now!
Soleil Securities initiates coverage on Cabot Microelectronics (NASDAQ: CCMP) with a Buy. PT $68.
Soleil analyst says, "Revenue growth has averaged 8.5% per year over the last 5 years. Generation of free cash has grown much more rapidly than revenues - 17.5% over the last 5 years - due to the company's high margins and low capital intensity. We expect the rate of revenue growth to increase over the next 3 to 5 years due to: 1) Increased usage of CMP as the IC industry continues to move to smaller geometries; and 2) Entry by CCMP into new markets (e.g. CMP pads, and semiconductor-grade silicon wafers)...With improving gross margin, reduced operating expenses as a percent of revenue, and continued share repurchases, we believe the company can achieve EPS growth of 11-12% over the next three to five years."
For more ratings news on Cabot Microelectronics click here and for the rating history of Cabot Microelectronics click here.
Shares of Cabot Microelectronics closed at $47.80 yesterday, with a 52 week range of $29.60-$48.37.
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Soleil analyst says, "Revenue growth has averaged 8.5% per year over the last 5 years. Generation of free cash has grown much more rapidly than revenues - 17.5% over the last 5 years - due to the company's high margins and low capital intensity. We expect the rate of revenue growth to increase over the next 3 to 5 years due to: 1) Increased usage of CMP as the IC industry continues to move to smaller geometries; and 2) Entry by CCMP into new markets (e.g. CMP pads, and semiconductor-grade silicon wafers)...With improving gross margin, reduced operating expenses as a percent of revenue, and continued share repurchases, we believe the company can achieve EPS growth of 11-12% over the next three to five years."
For more ratings news on Cabot Microelectronics click here and for the rating history of Cabot Microelectronics click here.
Shares of Cabot Microelectronics closed at $47.80 yesterday, with a 52 week range of $29.60-$48.37.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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