TIAA CREF Investment Management LLC cut its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,148 shares of the semiconductor company’s stock after selling 4,988 shares during the period. TIAA CREF Investment Management LLC’s holdings in Cabot Microelectronics were worth $11,209,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Narwhal Capital Management grew its holdings in shares of Cabot Microelectronics by 4.2% in the fourth quarter. Narwhal Capital Management now owns 38,335 shares of the semiconductor company’s stock valued at $3,607,000 after acquiring an additional 1,550 shares in the last quarter. Swiss National Bank lifted its stake in Cabot Microelectronics by 3.4% in the fourth quarter. Swiss National Bank now owns 43,100 shares of the semiconductor company’s stock valued at $4,055,000 after purchasing an additional 1,400 shares during the last quarter. Aperio Group LLC lifted its stake in Cabot Microelectronics by 7.8% in the fourth quarter. Aperio Group LLC now owns 8,158 shares of the semiconductor company’s stock valued at $768,000 after purchasing an additional 587 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Cabot Microelectronics by 19.0% in the fourth quarter. Fisher Asset Management LLC now owns 67,098 shares of the semiconductor company’s stock valued at $6,313,000 after purchasing an additional 10,731 shares during the last quarter. Finally, Leucadia National Corp purchased a new position in Cabot Microelectronics in the fourth quarter valued at approximately $333,000. 95.11% of the stock is owned by institutional investors.
Several equities analysts recently commented on the company. ValuEngine upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research downgraded Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a research note on Monday. BidaskClub upgraded Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. Seaport Global Securities reiterated a “buy” rating and issued a $112.00 price objective on shares of Cabot Microelectronics in a research note on Monday, January 29th. Finally, Loop Capital upped their price objective on Cabot Microelectronics from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $110.40.
In other Cabot Microelectronics news, VP Bernstein H. Carol Eckstein sold 19,425 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $101.51, for a total transaction of $1,971,831.75. Following the sale, the vice president now owns 57,487 shares in the company, valued at $5,835,505.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Hill sold 1,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $113.21, for a total value of $113,210.00. Following the sale, the director now owns 9,011 shares in the company, valued at approximately $1,020,135.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,236 shares of company stock worth $7,247,782. Company insiders own 3.30% of the company’s stock.
Cabot Microelectronics stock opened at $105.96 on Friday. Cabot Microelectronics Co. has a 12 month low of $68.00 and a 12 month high of $115.94. The company has a current ratio of 6.53, a quick ratio of 5.71 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2,729.67, a P/E ratio of 27.83 and a beta of 1.37.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. The business 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%. Cabot Microelectronics’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. analysts predict that Cabot Microelectronics Co. will post 4.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, March 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.20. Cabot Microelectronics’s dividend payout ratio is currently 44.94%.
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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.
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