State of Tennessee Treasury Department cut its holdings in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,145 shares of the semiconductor company’s stock after selling 1,400 shares during the period. State of Tennessee Treasury Department owned 0.09% of Cabot Microelectronics worth $1,770,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of CCMP. Riverhead Capital Management LLC raised its holdings in Cabot Microelectronics by 88.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 799 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Cabot Microelectronics by 17.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 324 shares during the period. Advisor Group Inc. grew its position in Cabot Microelectronics by 4.5% in the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock valued at $172,000 after acquiring an additional 100 shares during the last quarter. Victory Capital Management Inc. grew its position in Cabot Microelectronics by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock valued at $204,000 after acquiring an additional 415 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in Cabot Microelectronics in the 2nd quarter valued at $235,000. 93.12% of the stock is currently owned by institutional investors and hedge funds.
Cabot Microelectronics Corporation (CCMP) traded up $0.32 during trading on Wednesday, reaching $92.89. The company’s stock had a trading volume of 99,677 shares, compared to its average volume of 180,071. Cabot Microelectronics Corporation has a 52 week low of $60.39 and a 52 week high of $102.92. The stock has a market capitalization of $2,343.49, a PE ratio of 25.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.25 and a current ratio of 6.04.
In related news, VP Daniel D. Woodland sold 8,567 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $93.40, for a total transaction of $800,157.80. Following the sale, the vice president now directly owns 15,404 shares of the company’s stock, valued at $1,438,733.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Hill sold 15,638 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $94.58, for a total value of $1,479,042.04. Following the sale, the director now directly owns 15,104 shares in the company, valued at $1,428,536.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,794 shares of company stock valued at $7,028,546. Company insiders own 5.50% of the company’s stock.
Several brokerages have commented on CCMP. Zacks Investment Research raised Cabot Microelectronics from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Loop Capital initiated coverage on Cabot Microelectronics in a research report on Thursday, September 28th. They set a “buy” rating and a $94.00 price target on the stock. BidaskClub downgraded Cabot Microelectronics from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Needham & Company LLC reissued a “buy” rating and set a $85.00 price target on shares of Cabot Microelectronics in a research report on Tuesday, September 19th. Finally, Seaport Global Securities started coverage on Cabot Microelectronics in a research report on Wednesday, September 6th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Cabot Microelectronics presently has an average rating of “Buy” and a consensus price target of $99.75.
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Cabot Microelectronics 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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