Moody Aldrich Partners LLC reduced its position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,920 shares of the semiconductor company’s stock after selling 350 shares during the period. Cabot Microelectronics Corporation makes up approximately 1.6% of Moody Aldrich Partners LLC’s portfolio, making the stock its 17th largest position. Moody Aldrich Partners LLC owned approximately 0.07% of Cabot Microelectronics Corporation worth $1,249,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of CCMP. Rothschild Asset Management Inc. raised its stake in shares of Cabot Microelectronics Corporation by 9.7% in the second quarter. Rothschild Asset Management Inc. now owns 122,650 shares of the semiconductor company’s stock worth $9,055,000 after buying an additional 10,844 shares in the last quarter. Bbva Compass Bancshares Inc. raised its stake in Cabot Microelectronics Corporation by 3.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 21,350 shares of the semiconductor company’s stock valued at $1,577,000 after buying an additional 707 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Cabot Microelectronics Corporation by 4.4% in the second quarter. Great West Life Assurance Co. Can now owns 36,431 shares of the semiconductor company’s stock valued at $2,688,000 after buying an additional 1,550 shares in the last quarter. NGAM Advisors L.P. raised its stake in Cabot Microelectronics Corporation by 3.8% in the second quarter. NGAM Advisors L.P. now owns 81,160 shares of the semiconductor company’s stock valued at $5,992,000 after buying an additional 2,969 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in Cabot Microelectronics Corporation during the second quarter valued at approximately $719,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.
Cabot Microelectronics Corporation (NASDAQ CCMP) traded down 1.74% on Friday, reaching $72.34. The company had a trading volume of 234,200 shares. The company has a market capitalization of $1.81 billion, a PE ratio of 22.61 and a beta of 1.48. The company’s 50-day moving average is $76.26 and its 200-day moving average is $73.02. Cabot Microelectronics Corporation has a 52-week low of $47.31 and a 52-week high of $81.85.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.03. Cabot Microelectronics Corporation had a net margin of 16.81% and a return on equity of 16.69%. The business had revenue of $128 million during the quarter, compared to analysts’ expectations of $122.17 million. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts anticipate that Cabot Microelectronics Corporation will post $3.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, June 23rd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.09%. Cabot Microelectronics Corporation’s dividend payout ratio is presently 25.16%.
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Several research analysts have recently weighed in on CCMP shares. BidaskClub raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Needham & Company LLC raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, June 27th.
In related news, Director William P. Noglows sold 60,000 shares of Cabot Microelectronics Corporation stock in a transaction on Monday, May 15th. The stock was sold at an average price of $76.96, for a total transaction of $4,617,600.00. Following the completion of the transaction, the director now directly owns 28,652 shares of the company’s stock, valued at $2,205,057.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David H. Li sold 23,251 shares of Cabot Microelectronics Corporation stock in a transaction on Monday, May 1st. The stock was sold at an average price of $78.83, for a total value of $1,832,876.33. Following the transaction, the insider now directly owns 72,646 shares of the company’s stock, valued at $5,726,684.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,726 shares of company stock valued at $8,595,126. 5.50% of the stock is currently owned by insiders.
About Cabot Microelectronics Corporation
Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.
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