OLD National Bancorp IN bought a new stake in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) in the third quarter, Holdings Channel reports. The fund bought 2,583 shares of the semiconductor company’s stock, valued at approximately $266,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in Cabot Microelectronics by 599.4% during the first quarter. Russell Investments Group Ltd. now owns 17,066 shares of the semiconductor company’s stock worth $1,827,000 after buying an additional 14,626 shares during the last quarter. LPL Financial LLC bought a new position in Cabot Microelectronics during the first quarter worth about $645,000. Guggenheim Capital LLC boosted its holdings in Cabot Microelectronics by 15.9% during the first quarter. Guggenheim Capital LLC now owns 28,097 shares of the semiconductor company’s stock worth $3,010,000 after buying an additional 3,861 shares during the last quarter. Legal & General Group Plc boosted its holdings in Cabot Microelectronics by 5.0% during the first quarter. Legal & General Group Plc now owns 52,904 shares of the semiconductor company’s stock worth $5,627,000 after buying an additional 2,516 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in Cabot Microelectronics by 67.7% during the first quarter. Xact Kapitalforvaltning AB now owns 4,458 shares of the semiconductor company’s stock worth $477,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.
NASDAQ:CCMP opened at $102.55 on Friday. Cabot Microelectronics Co. has a fifty-two week low of $89.19 and a fifty-two week high of $123.76. The stock has a market cap of $2.48 billion, a PE ratio of 19.65 and a beta of 1.33.
Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.14. Cabot Microelectronics had a return on equity of 21.59% and a net margin of 18.64%. The business had revenue of $156.70 million for the quarter, compared to analysts’ expectations of $155.65 million. During the same quarter in the previous year, the business posted $1.07 EPS. Cabot Microelectronics’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts forecast that Cabot Microelectronics Co. will post 5.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Tuesday, October 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, October 5th. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 30.65%.
CCMP has been the topic of a number of recent analyst reports. BidaskClub cut Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 17th. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Tuesday, July 31st. Loop Capital set a $117.00 target price on Cabot Microelectronics and gave the stock a “buy” rating in a report on Monday, August 20th. They noted that the move was a valuation call. Finally, ValuEngine cut Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $120.25.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers.
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