United Services Automobile Association boosted its position in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 29.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,180 shares of the semiconductor company’s stock after buying an additional 2,310 shares during the period. United Services Automobile Association’s holdings in Cabot Microelectronics Corporation were worth $780,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CCMP. Norges Bank acquired a new position in shares of Cabot Microelectronics Corporation during the fourth quarter worth about $24,657,000. Acadian Asset Management LLC acquired a new position in shares of Cabot Microelectronics Corporation during the first quarter worth about $9,999,000. JPMorgan Chase & Co. increased its position in shares of Cabot Microelectronics Corporation by 7.9% in the first quarter. JPMorgan Chase & Co. now owns 1,737,525 shares of the semiconductor company’s stock worth $133,111,000 after buying an additional 126,786 shares during the period. Summit Securities Group LLC increased its position in shares of Cabot Microelectronics Corporation by 126.9% in the first quarter. Summit Securities Group LLC now owns 147,000 shares of the semiconductor company’s stock worth $11,262,000 after buying an additional 82,200 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Cabot Microelectronics Corporation by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 502,765 shares of the semiconductor company’s stock worth $38,518,000 after buying an additional 75,025 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.
Cabot Microelectronics Corporation (NASDAQ:CCMP) traded down 0.11% during midday trading on Tuesday, hitting $79.84. The company had a trading volume of 113,357 shares. The company has a market capitalization of $2.00 billion, a P/E ratio of 24.96 and a beta of 1.48. Cabot Microelectronics Corporation has a 52 week low of $46.02 and a 52 week high of $81.85. The stock has a 50 day moving average price of $75.98 and a 200 day moving average price of $72.55.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last posted its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. The firm had revenue of $119.20 million during the quarter, compared to analysts’ expectations of $114.87 million. Cabot Microelectronics Corporation had a net margin of 16.81% and a return on equity of 16.69%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Equities analysts forecast that Cabot Microelectronics Corporation will post $3.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 23rd will be issued a $0.20 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 25.16%.
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Several research analysts have recently weighed in on the company. BidaskClub raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Needham & Company LLC raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, June 27th.
In other Cabot Microelectronics Corporation news, Director William P. Noglows sold 60,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $76.96, for a total value of $4,617,600.00. Following the completion of the transaction, the director now directly owns 28,652 shares of the company’s stock, valued at $2,205,057.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas S. Roman sold 8,545 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $78.01, for a total transaction of $666,595.45. Following the completion of the sale, the insider now owns 16,948 shares in the company, valued at $1,322,113.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,726 shares of company stock valued at $8,595,126. 5.50% of the stock is currently owned by corporate insiders.
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.
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