UBS Asset Management Americas Inc. increased its position in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 159.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,390 shares of the semiconductor company’s stock after buying an additional 7,000 shares during the period. UBS Asset Management Americas Inc.’s holdings in Cabot Microelectronics Corporation were worth $873,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CCMP. Bank of Montreal Can boosted its stake in Cabot Microelectronics Corporation by 63.2% in the first quarter. Bank of Montreal Can now owns 2,374 shares of the semiconductor company’s stock worth $182,000 after buying an additional 919 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Cabot Microelectronics Corporation by 6.1% in the first quarter. State of Alaska Department of Revenue now owns 2,770 shares of the semiconductor company’s stock worth $212,000 after buying an additional 160 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Cabot Microelectronics Corporation during the first quarter worth $213,000. 361 Capital LLC bought a new stake in Cabot Microelectronics Corporation during the first quarter worth $213,000. Finally, Advisors Preferred LLC bought a new stake in Cabot Microelectronics Corporation during the first quarter worth $269,000. 94.40% of the stock is currently owned by institutional investors.
Cabot Microelectronics Corporation (NASDAQ:CCMP) opened at 71.51 on Monday. Cabot Microelectronics Corporation has a 52 week low of $47.31 and a 52 week high of $81.85. The firm has a 50-day moving average of $75.91 and a 200 day moving average of $73.38. The firm has a market capitalization of $1.80 billion, a PE ratio of 22.31 and a beta of 1.48.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $128 million for the quarter, compared to the consensus estimate 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 revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Analysts predict that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 23rd were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, June 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. Cabot Microelectronics Corporation’s payout ratio is currently 25.08%.
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A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Needham & Company LLC raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, June 27th.
In related news, insider William S. Johnson sold 11,806 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total value of $870,928.62. Following the completion of the sale, the insider now owns 94,911 shares in the company, valued at $7,001,584.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William P. Noglows sold 60,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $76.96, for a total value of $4,617,600.00. Following the completion of the sale, the director now owns 28,652 shares of the company’s stock, valued at approximately $2,205,057.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,285 shares of company stock valued at $7,083,749. 5.50% of the stock is currently owned by corporate 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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