Great West Life Assurance Co. Can Raises Stake in Cabot Microelectronics Corporation (CCMP)
Great West Life Assurance Co. Can increased its position in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 4.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 36,431 shares of the semiconductor company’s stock after buying an additional 1,550 shares during the period. Great West Life Assurance Co. Can owned 0.15% of Cabot Microelectronics Corporation worth $2,688,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Cabot Microelectronics Corporation by 54,661.0% in the first quarter. BlackRock Inc. now owns 2,953,259 shares of the semiconductor company’s stock worth $226,250,000 after buying an additional 2,947,866 shares during the last quarter. Vanguard Group Inc. boosted its stake in Cabot Microelectronics Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock worth $168,125,000 after buying an additional 154,495 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Cabot Microelectronics Corporation during the first quarter worth approximately $9,999,000. JPMorgan Chase & Co. boosted its stake in 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 last quarter. Finally, Bank of Montreal Can boosted its stake in Cabot Microelectronics Corporation by 3,960.3% in the second quarter. Bank of Montreal Can now owns 96,391 shares of the semiconductor company’s stock worth $7,117,000 after buying an additional 94,017 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.
Shares of Cabot Microelectronics Corporation (CCMP) opened at 68.86 on Monday. The firm has a market capitalization of $1.74 billion, a PE ratio of 21.48 and a beta of 1.48. The firm has a 50-day moving average of $74.28 and a 200-day moving average of $73.69. Cabot Microelectronics Corporation has a 12-month low of $47.31 and a 12-month high of $81.85.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $128 million during the quarter, compared to the consensus estimate of $122.17 million. During the same quarter last year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. Equities analysts anticipate that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 23rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.16%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 25.08%.
CCMP has been the subject of a number of research reports. BidaskClub cut shares of Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Needham & Company LLC upgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, June 27th. Finally, Zacks Investment Research cut shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $80.00.
In other Cabot Microelectronics Corporation news, 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 value of $870,928.62. Following the completion of the transaction, the insider now directly owns 94,911 shares in the company, valued at approximately $7,001,584.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara A. Klein sold 12,502 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.69, for a total transaction of $896,268.38. Following the completion of the transaction, the director now owns 34,561 shares of the company’s stock, valued at $2,477,678.09. The disclosure for this sale can be found here. Insiders sold a total of 24,740 shares of company stock valued at $1,799,554 over the last 90 days. Company 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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