Cabot Microelectronics Corporation (CCMP) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 7.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,355,224 shares of the semiconductor company’s stock after acquiring an additional 160,668 shares during the period. Vanguard Group Inc. owned about 9.34% of Cabot Microelectronics Corporation worth $173,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Alps Advisors Inc. grew its stake in shares of Cabot Microelectronics Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,872 shares of the semiconductor company’s stock valued at $507,000 after buying an additional 18 shares during the period. BB&T Securities LLC grew its stake in shares of Cabot Microelectronics Corporation by 0.6% during the 2nd quarter. BB&T Securities LLC now owns 8,468 shares of the semiconductor company’s stock valued at $625,000 after buying an additional 48 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of Cabot Microelectronics Corporation by 1.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 6,900 shares of the semiconductor company’s stock valued at $529,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Cabot Microelectronics Corporation by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the semiconductor company’s stock valued at $760,000 after buying an additional 100 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Cabot Microelectronics Corporation by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock valued at $971,000 after buying an additional 100 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on the stock. Loop Capital boosted their price objective on shares of Cabot Microelectronics Corporation from $94.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Citigroup Inc. boosted their price objective on shares of Cabot Microelectronics Corporation from $80.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday. Zacks Investment Research raised shares of Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $85.00 price objective on shares of Cabot Microelectronics Corporation in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $95.67.

Shares of Cabot Microelectronics Corporation (CCMP) opened at 96.16 on Friday. The stock has a market capitalization of $2.43 billion, a PE ratio of 29.99 and a beta of 1.47. Cabot Microelectronics Corporation has a 12 month low of $52.93 and a 12 month high of $97.70. The company’s 50-day moving average is $78.63 and its 200-day moving average is $75.69.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last announced its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics Corporation had a net margin of 17.10% and a return on equity of 16.27%. The company had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. During the same quarter in the prior year, the business posted $0.91 EPS. Cabot Microelectronics Corporation’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts expect that Cabot Microelectronics Corporation will post $3.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, September 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, September 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.83%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is 23.60%.

In other news, VP Daniel D. Woodland sold 432 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $74.90, for a total transaction of $32,356.80. Following the transaction, the vice president now owns 17,588 shares in the company, valued at approximately $1,317,341.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Barbara A. Klein sold 12,502 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.69, for a total transaction of $896,268.38. Following the transaction, the director now owns 34,561 shares in the company, valued at approximately $2,477,678.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,740 shares of company stock worth $1,799,554. 5.50% of the stock is currently owned by company insiders.

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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.

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

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