Dimensional Fund Advisors LP reduced its stake in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 17.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 911,598 shares of the semiconductor company’s stock after selling 194,414 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.61% of Cabot Microelectronics Corporation worth $67,304,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Riverhead Capital Management LLC raised its holdings in Cabot Microelectronics Corporation by 88.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 799 shares during the period. Ameritas Investment Partners Inc. bought a new position in Cabot Microelectronics Corporation in the 1st quarter worth $146,000. Advisor Group Inc. raised its holdings in Cabot Microelectronics Corporation by 4.5% in the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock worth $172,000 after purchasing an additional 100 shares during the period. Victory Capital Management Inc. raised its holdings in Cabot Microelectronics Corporation by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 415 shares during the period. Finally, Amalgamated Bank raised its holdings in Cabot Microelectronics Corporation by 12.1% in the 2nd quarter. Amalgamated Bank now owns 3,573 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 386 shares during the period. 93.85% of the stock is currently owned by institutional investors.
Cabot Microelectronics Corporation (CCMP) opened at 81.65 on Thursday. Cabot Microelectronics Corporation has a one year low of $50.66 and a one year high of $81.85. The company has a market capitalization of $2.06 billion, a PE ratio of 25.47 and a beta of 1.47. The company has a 50-day moving average price of $74.95 and a 200-day moving average price of $75.01.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.03). Cabot Microelectronics Corporation had a net margin of 16.41% and a return on equity of 16.08%. The business had revenue of $128.00 million during the quarter, compared to analysts’ expectations of $122.17 million. During the same period in the previous year, the company posted $0.79 earnings per share. Cabot Microelectronics Corporation’s revenue for the quarter was up 18.4% compared to the same quarter last year. Analysts expect that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Monday, September 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, September 22nd. Cabot Microelectronics Corporation’s payout ratio is 25.08%.
A number of equities analysts recently commented on the company. Loop Capital assumed coverage on Cabot Microelectronics Corporation in a report on Thursday, September 28th. They issued a “buy” rating and a $94.00 target price on the stock. Zacks Investment Research raised Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Cabot Microelectronics Corporation in a report on Tuesday, September 19th. Seaport Global Securities assumed coverage on Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. Finally, BidaskClub cut Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.67.
In other Cabot Microelectronics Corporation news, Director Barbara A. Klein sold 12,502 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.69, for a total value of $896,268.38. Following the sale, the director now directly owns 34,561 shares of the company’s stock, valued at $2,477,678.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William S. Johnson sold 11,806 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $73.77, for a total transaction of $870,928.62. Following the completion of the sale, the insider now directly owns 94,911 shares in the company, valued at $7,001,584.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,740 shares of company stock worth $1,799,554. 5.50% of the stock is 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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