Cabot Microelectronics Corporation (CCMP) Stake Lowered by Martingale Asset Management L P

Martingale Asset Management L P cut its holdings in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 64.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,809 shares of the semiconductor company’s stock after selling 54,501 shares during the period. Martingale Asset Management L P owned 0.12% of Cabot Microelectronics Corporation worth $2,201,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Eagle Asset Management Inc. increased its stake in shares of Cabot Microelectronics Corporation by 254.9% in the second quarter. Eagle Asset Management Inc. now owns 146,483 shares of the semiconductor company’s stock worth $10,814,000 after purchasing an additional 105,214 shares during the period. Mason Street Advisors LLC increased its stake in shares of 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 purchasing an additional 559 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 worth $168,125,000 after purchasing an additional 154,495 shares during the period. Arizona State Retirement System increased its stake in shares of Cabot Microelectronics Corporation by 0.8% in the second quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock worth $971,000 after purchasing an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of 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 purchasing an additional 486 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

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In related news, VP Daniel D. Woodland sold 432 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $74.90, for a total value of $32,356.80. Following the completion of the sale, the vice president now directly owns 17,588 shares in the company, valued at approximately $1,317,341.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William S. Johnson sold 11,806 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $73.77, for a total transaction of $870,928.62. Following the completion of the sale, the insider now owns 94,911 shares of the company’s stock, valued at $7,001,584.47. The disclosure for this sale can be found here. Insiders sold a total of 24,740 shares of company stock valued at $1,799,554 over the last quarter. 5.50% of the stock is currently owned by company insiders.

CCMP has been the topic of a number of recent analyst reports. BidaskClub lowered Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Needham & Company LLC upgraded Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, June 27th. Zacks Investment Research lowered Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Seaport Global Securities initiated coverage on Cabot Microelectronics Corporation in a research note on Wednesday, September 6th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $80.00.

Cabot Microelectronics Corporation (CCMP) opened at 75.18 on Wednesday. The stock has a 50 day moving average price of $71.30 and a 200-day moving average price of $74.17. Cabot Microelectronics Corporation has a 1-year low of $50.33 and a 1-year high of $81.85. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 23.45 and a beta of 1.46.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its 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). Cabot Microelectronics Corporation had a net margin of 16.41% and a return on equity of 16.08%. The firm had revenue of $128.00 million during the quarter, compared to analyst estimates of $122.17 million. During the same quarter last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities analysts predict that Cabot Microelectronics Corporation will post $3.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Monday, September 25th will be paid a $0.20 dividend. The ex-dividend date is Friday, September 22nd. This represents a $0.80 annualized dividend and a yield of 1.06%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is currently 25.08%.

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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Institutional Ownership by Quarter for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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