Texas Permanent School Fund Sells 1,334 Shares of Cabot Microelectronics Co. (CCMP)

Texas Permanent School Fund lessened its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,141 shares of the semiconductor company’s stock after selling 1,334 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Cabot Microelectronics worth $1,613,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CCMP. Amalgamated Bank grew its holdings in Cabot Microelectronics by 12.1% during the second quarter. Amalgamated Bank now owns 3,573 shares of the semiconductor company’s stock worth $264,000 after acquiring an additional 386 shares during the period. Northern Trust Corp grew its holdings in Cabot Microelectronics by 11.8% during the second quarter. Northern Trust Corp now owns 329,047 shares of the semiconductor company’s stock worth $24,294,000 after acquiring an additional 34,665 shares during the period. Vanguard Group Inc. grew its holdings in Cabot Microelectronics by 7.3% during the second quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock worth $173,886,000 after acquiring an additional 160,668 shares during the period. Advisor Group Inc. grew its holdings in Cabot Microelectronics by 4.5% during the second quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock worth $172,000 after acquiring an additional 100 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in Cabot Microelectronics by 21.6% during the second quarter. Parametric Portfolio Associates LLC now owns 81,318 shares of the semiconductor company’s stock worth $6,004,000 after acquiring an additional 14,430 shares during the period. 92.93% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Microelectronics Co. (CCMP) traded down $0.26 during midday trading on Friday, reaching $100.00. The company had a trading volume of 324,298 shares, compared to its average volume of 196,977. Cabot Microelectronics Co. has a 1 year low of $68.00 and a 1 year high of $105.69. The stock has a market capitalization of $2,550.00, a P/E ratio of 41.84 and a beta of 1.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.53 and a quick ratio of 5.71.

Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.17. The firm had revenue of $140.00 million for the quarter, compared to the consensus estimate of $137.90 million. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. sell-side analysts predict that Cabot Microelectronics Co. will post 4.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Friday, December 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.80 annualized dividend and a yield of 0.80%. Cabot Microelectronics’s dividend payout ratio is presently 33.47%.

In other Cabot Microelectronics news, VP Daniel D. Woodland sold 8,567 shares of the company’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 completion of the sale, the vice president now directly owns 15,404 shares in the company, valued at $1,438,733.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bernstein H. Carol Eckstein sold 905 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $91.94, for a total value of $83,205.70. Following the sale, the vice president now owns 54,150 shares of the company’s stock, valued at $4,978,551. The disclosure for this sale can be found here. Insiders have sold 70,992 shares of company stock valued at $7,091,595 over the last 90 days. 3.30% of the stock is currently owned by insiders.

A number of analysts have commented on the company. Loop Capital boosted their target price on Cabot Microelectronics from $94.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research report on Thursday, February 1st. Seaport Global Securities reiterated a “buy” rating and set a $112.00 target price on shares of Cabot Microelectronics in a research report on Monday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Cabot Microelectronics in a research report on Friday, January 26th. Finally, BidaskClub upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Cabot Microelectronics currently has a consensus rating of “Buy” and an average target price of $110.40.

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Cabot Microelectronics 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.

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

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