Bailard Inc. acquired a new position in Cabot Microelectronics Co. (NASDAQ:CCMP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,800 shares of the semiconductor company’s stock, valued at approximately $458,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CCMP. Ceredex Value Advisors LLC purchased a new stake in Cabot Microelectronics in the third quarter worth about $94,727,000. Eagle Asset Management Inc. lifted its holdings in Cabot Microelectronics by 134.5% in the third quarter. Eagle Asset Management Inc. now owns 541,080 shares of the semiconductor company’s stock worth $55,823,000 after buying an additional 310,350 shares during the period. Carillon Tower Advisers Inc. purchased a new stake in Cabot Microelectronics in the third quarter worth about $26,055,000. Wells Fargo & Company MN lifted its holdings in Cabot Microelectronics by 66.5% in the third quarter. Wells Fargo & Company MN now owns 422,161 shares of the semiconductor company’s stock worth $43,555,000 after buying an additional 168,567 shares during the period. Finally, BlackRock Inc. lifted its holdings in Cabot Microelectronics by 3.5% in the third quarter. BlackRock Inc. now owns 3,674,282 shares of the semiconductor company’s stock worth $379,076,000 after buying an additional 125,642 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.
In other news, VP Ananth Naman sold 7,539 shares of Cabot Microelectronics stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $97.08, for a total transaction of $731,886.12. Following the completion of the transaction, the vice president now directly owns 13,230 shares in the company, valued at $1,284,368.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on CCMP shares. BidaskClub upgraded shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Buckingham Research started coverage on shares of Cabot Microelectronics in a report on Thursday, November 29th. They set a “buy” rating and a $130.00 target price for the company. Finally, Loop Capital set a $123.00 target price on shares of Cabot Microelectronics and gave the company a “buy” rating in a report on Thursday, November 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $124.00.
CCMP stock opened at $98.78 on Thursday. Cabot Microelectronics Co. has a 52-week low of $82.24 and a 52-week high of $123.76. The company has a market cap of $2.83 billion, a PE ratio of 18.92 and a beta of 1.17. The company has a quick ratio of 2.39, a current ratio of 3.24 and a debt-to-equity ratio of 1.03.
Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Wednesday, February 6th. The semiconductor company reported $1.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.47. Cabot Microelectronics had a net margin of 18.83% and a return on equity of 21.57%. The firm had revenue of $221.80 million during the quarter, compared to analyst estimates of $217.90 million. During the same period last year, the business earned $1.19 earnings per share. The business’s revenue was up 58.5% on a year-over-year basis. Sell-side analysts predict that Cabot Microelectronics Co. will post 6.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 30th. Stockholders of record on Friday, December 21st were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, December 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.62%. Cabot Microelectronics’s payout ratio is 30.65%.
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Cabot Microelectronics Profile
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in chemical mechanical planarization (CMP) process. It provides CMP slurries, which are liquid solutions composed of high-purity deionized water, proprietary chemical additives, and engineered abrasives that chemically and mechanically interact with the surface material of the IC device at an atomic level; and CMP pads that are engineered polymeric materials designed to distribute and transport the slurry to the surface of the wafer and distribute it evenly across the wafer.
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