Cabot Microelectronics Stock Hits New 52-Week High (CCMP)

NEW YORK ( TheStreet) -- Cabot Microelectronics Corporation (Nasdaq: CCMP) hit a new 52-week high Thursday as it is currently trading at $52.72, above its previous 52-week high of $52.69 with 51,281 shares traded as of 11:07 a.m. ET. Average volume has been 167,800 shares over the past 30 days.

Cabot Microelectronics has a market cap of $1.14 billion and is part of the technology sector and electronics industry. Shares are up 10.4% year to date as of the close of trading on Wednesday.

Cabot Microelectronics Corporation engages in the development, manufacture, and sale of chemical mechanical planarization (CMP) consumables to the semiconductor industry primarily in the United States, Asia, and Europe. The company has a P/E ratio of 26, above the average electronics industry P/E ratio of 22.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cabot Microelectronics as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Cabot Microelectronics Ratings Report.

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