Vanguard Group Inc. boosted its position in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 7.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,194,556 shares of the semiconductor company’s stock after buying an additional 154,495 shares during the period. Vanguard Group Inc. owned approximately 8.77% of Cabot Microelectronics Corporation worth $168,125,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in CCMP. Mason Street Advisors LLC raised its stake in Cabot Microelectronics Corporation by 10.6% in the first quarter. Mason Street Advisors LLC now owns 5,853 shares of the semiconductor company’s stock worth $448,000 after buying an additional 559 shares during the last quarter. State Street Corp raised its stake in Cabot Microelectronics Corporation by 11.2% in the fourth quarter. State Street Corp now owns 543,346 shares of the semiconductor company’s stock worth $34,323,000 after buying an additional 54,797 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in Cabot Microelectronics Corporation during the first quarter worth about $4,444,000. Guggenheim Capital LLC bought a new stake in Cabot Microelectronics Corporation during the fourth quarter worth about $619,000. Finally, PNC Financial Services Group Inc. raised its stake in Cabot Microelectronics Corporation by 15.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,587 shares of the semiconductor company’s stock worth $276,000 after buying an additional 486 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.
Shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) opened at 71.51 on Monday. The company has a 50-day moving average price of $75.91 and a 200-day moving average price of $73.38. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 22.31 and a beta of 1.48. Cabot Microelectronics Corporation has a 1-year low of $47.31 and a 1-year 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The business had revenue of $128 million during the quarter, compared to analyst estimates of $122.17 million. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 EPS. On average, equities analysts expect that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.12%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is 25.08%.
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CCMP has been the topic of a number of recent research reports. BidaskClub lowered Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Needham & Company LLC raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, June 27th.
In related news, Director Barbara A. Klein sold 12,502 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.69, for a total value of $896,268.38. Following the completion of the transaction, the director now owns 34,561 shares of the company’s stock, valued at approximately $2,477,678.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas S. Roman sold 8,545 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $78.01, for a total transaction of $666,595.45. Following the completion of the transaction, the insider now directly owns 16,948 shares of the company’s stock, valued at approximately $1,322,113.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,285 shares of company stock worth $7,083,749. 5.50% of the stock is currently owned by company 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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