Victory Capital Management Inc. boosted its holdings in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 17.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,764 shares of the semiconductor company’s stock after purchasing an additional 415 shares during the quarter. Victory Capital Management Inc.’s holdings in Cabot Microelectronics Corporation were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in Cabot Microelectronics Corporation by 54,661.0% in the 1st quarter. BlackRock Inc. now owns 2,953,259 shares of the semiconductor company’s stock worth $226,250,000 after purchasing an additional 2,947,866 shares during the period. Vanguard Group Inc. boosted its stake in Cabot Microelectronics Corporation by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock worth $168,125,000 after purchasing an additional 154,495 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cabot Microelectronics Corporation by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,106,012 shares of the semiconductor company’s stock worth $84,731,000 after purchasing an additional 3,316 shares during the period. Goldman Sachs Group Inc. boosted its stake in Cabot Microelectronics Corporation by 7.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,914 shares of the semiconductor company’s stock worth $49,484,000 after purchasing an additional 45,020 shares during the period. Finally, State Street Corp boosted its stake in Cabot Microelectronics Corporation by 6.6% in the 1st quarter. State Street Corp now owns 579,437 shares of the semiconductor company’s stock worth $44,394,000 after purchasing an additional 36,091 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.

In other news, Director Barbara A. Klein sold 12,502 shares of Cabot Microelectronics Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William S. Johnson sold 11,806 shares of Cabot Microelectronics Corporation stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total value 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. Insiders sold 24,740 shares of company stock worth $1,799,554 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Shares of Cabot Microelectronics Corporation (NASDAQ CCMP) opened at 74.62 on Friday. The stock has a market capitalization of $1.88 billion, a PE ratio of 23.28 and a beta of 1.46. Cabot Microelectronics Corporation has a one year low of $50.33 and a one year high of $81.85. The stock’s 50 day moving average price is $71.30 and its 200 day moving average price is $74.17.

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 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 analyst estimates of $122.17 million. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities research analysts predict that Cabot Microelectronics Corporation will post $3.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, September 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, September 22nd. Cabot Microelectronics Corporation’s dividend payout ratio is presently 25.08%.

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Several research analysts have weighed in on CCMP shares. Needham & Company LLC restated a “buy” rating and issued a $85.00 price target on shares of Cabot Microelectronics Corporation in a research note on Tuesday. Seaport Global Securities started coverage on Cabot Microelectronics Corporation in a research note on Wednesday, September 6th. They issued a “buy” rating for the company. BidaskClub upgraded Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, Zacks Investment Research upgraded Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Cabot Microelectronics Corporation has a consensus rating of “Hold” and a consensus target price of $80.00.

Cabot Microelectronics Corporation 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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Institutional Ownership by Quarter for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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