Geode Capital Management LLC Has $24.64 Million Position in Cabot Microelectronics Corporation (CCMP)
Geode Capital Management LLC raised its stake in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 8.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 321,660 shares of the semiconductor company’s stock after buying an additional 24,746 shares during the period. Geode Capital Management LLC owned about 1.29% of Cabot Microelectronics Corporation worth $24,642,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of Cabot Microelectronics Corporation during the first quarter valued at $146,000. Bank of Montreal Can increased its position in shares of Cabot Microelectronics Corporation by 63.2% in the first quarter. Bank of Montreal Can now owns 2,374 shares of the semiconductor company’s stock valued at $182,000 after buying an additional 919 shares during the period. State of Alaska Department of Revenue increased its position in shares of Cabot Microelectronics Corporation by 6.1% in the first quarter. State of Alaska Department of Revenue now owns 2,770 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 160 shares during the period. 361 Capital LLC acquired a new position in shares of Cabot Microelectronics Corporation during the first quarter valued at $213,000. Finally, Hartford Investment Management Co. purchased a new stake in Cabot Microelectronics Corporation during the first quarter valued at $213,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
Cabot Microelectronics Corporation (CCMP) traded down 0.10% during mid-day trading on Friday, reaching $71.51. The company’s stock had a trading volume of 175,657 shares. The firm has a market cap of $1.80 billion, a PE ratio of 22.31 and a beta of 1.48. Cabot Microelectronics Corporation has a one year low of $47.31 and a one year high of $81.85. The stock’s 50 day moving average is $75.91 and its 200 day moving average is $73.38.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.03. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The firm had revenue of $128 million for the quarter, compared to analyst estimates of $122.17 million. During the same quarter last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, analysts anticipate that Cabot Microelectronics Corporation will post $3.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Wednesday, June 21st. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is currently 25.08%.
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Several analysts have weighed in on CCMP shares. BidaskClub downgraded Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Needham & Company LLC upgraded Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, June 27th.
In related news, Director Barbara A. Klein sold 12,502 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.69, for a total transaction of $896,268.38. Following the transaction, the director now 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 accessible through this link. Also, insider William S. Johnson sold 11,806 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total value of $870,928.62. Following the transaction, the insider now directly owns 94,911 shares in the company, valued at approximately $7,001,584.47. The disclosure for this sale can be found here. Insiders have sold 93,285 shares of company stock worth $7,083,749 in the last quarter. Insiders own 5.50% of the company’s stock.
Cabot Microelectronics Corporation 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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