Eastern Bank maintained its stake in Cabot Microelectronics Corporation (NASDAQ:CCMP) during the second quarter, according to its most recent filing with the SEC. The fund owned 18,806 shares of the semiconductor company’s stock at the end of the second quarter. Eastern Bank owned 0.08% of Cabot Microelectronics Corporation worth $1,388,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Cabot Microelectronics Corporation by 54,661.0% in the first quarter. BlackRock Inc. now owns 2,953,259 shares of the semiconductor company’s stock valued at $226,250,000 after buying an additional 2,947,866 shares in the last quarter. Vanguard Group Inc. raised its position in Cabot Microelectronics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock valued at $168,125,000 after buying an additional 154,495 shares in the last quarter. JPMorgan Chase & Co. raised its position in Cabot Microelectronics Corporation by 7.9% in the first quarter. JPMorgan Chase & Co. now owns 1,737,525 shares of the semiconductor company’s stock valued at $133,111,000 after buying an additional 126,786 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cabot Microelectronics Corporation by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,106,012 shares of the semiconductor company’s stock valued at $84,731,000 after buying an additional 3,316 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in Cabot Microelectronics Corporation by 0.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 860,232 shares of the semiconductor company’s stock valued at $65,902,000 after buying an additional 7,340 shares in the last quarter. 94.40% of the stock is owned by institutional investors.
Cabot Microelectronics Corporation (NASDAQ:CCMP) traded up 0.68% during mid-day trading on Thursday, hitting $70.96. The company’s stock had a trading volume of 54,101 shares. The firm has a 50 day moving average of $75.25 and a 200-day moving average of $73.58. Cabot Microelectronics Corporation has a 52-week low of $47.31 and a 52-week high of $81.85. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 22.13 and a beta of 1.48.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.03. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The company had revenue of $128 million for the quarter, compared to the consensus estimate of $122.17 million. During the same period last year, the company earned $0.79 EPS. Cabot Microelectronics Corporation’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities research analysts expect that Cabot Microelectronics Corporation will post $3.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 23rd were given a $0.20 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.14%. Cabot Microelectronics Corporation’s payout ratio is 25.08%.
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CCMP has been the topic of several recent analyst reports. BidaskClub upgraded Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Needham & Company LLC upgraded 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 other 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 transaction of $896,268.38. Following the completion of the sale, the director now owns 34,561 shares in the company, valued at approximately $2,477,678.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William P. Noglows sold 60,000 shares of Cabot Microelectronics Corporation stock in a transaction that occurred on Monday, May 15th. The shares were 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 owns 28,652 shares of the company’s stock, valued at $2,205,057.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,740 shares of company stock worth $6,417,154. 5.50% of the stock is owned by insiders.
Cabot Microelectronics Corporation Company Profile
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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