Renaissance Technologies LLC Has $42.31 Million Position in Cabot Microelectronics Corporation (CCMP)
Renaissance Technologies LLC boosted its stake in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 33.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 573,109 shares of the semiconductor company’s stock after purchasing an additional 145,109 shares during the period. Renaissance Technologies LLC owned about 2.27% of Cabot Microelectronics Corporation worth $42,313,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC grew its holdings in Cabot Microelectronics Corporation by 88.8% during the second quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 799 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Cabot Microelectronics Corporation in the first quarter worth about $146,000. Advisor Group Inc. increased its position in Cabot Microelectronics Corporation by 4.5% in the second quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock worth $172,000 after buying an additional 100 shares in the last quarter. Bank of Montreal Can increased its position in 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 worth $182,000 after buying an additional 919 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Cabot Microelectronics Corporation by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock worth $204,000 after buying an additional 415 shares in the last quarter. Institutional investors own 93.85% of the company’s stock.
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Several research analysts have recently commented on CCMP shares. Zacks Investment Research raised Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Loop Capital assumed coverage on Cabot Microelectronics Corporation in a research note on Thursday, September 28th. They set a “buy” rating and a $94.00 price objective for the company. BidaskClub downgraded Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 target price on shares of Cabot Microelectronics Corporation in a report on Tuesday, September 19th. Finally, Seaport Global Securities started coverage on shares of Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $84.67.
In other news, Director Barbara A. Klein sold 12,502 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.69, for a total transaction of $896,268.38. Following the sale, the director now directly owns 34,561 shares of the company’s stock, valued at approximately $2,477,678.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William S. Johnson sold 11,806 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total transaction of $870,928.62. Following 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. In the last 90 days, insiders have sold 24,740 shares of company stock worth $1,799,554. 5.50% of the stock is owned by company insiders.
Cabot Microelectronics Corporation (NASDAQ:CCMP) opened at 80.79 on Tuesday. The stock has a market cap of $2.04 billion, a PE ratio of 25.20 and a beta of 1.47. Cabot Microelectronics Corporation has a 1-year low of $50.66 and a 1-year high of $81.85. The company’s 50 day moving average is $72.63 and its 200-day moving average is $74.63.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (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 firm had revenue of $128.00 million during the quarter, compared to analyst estimates of $122.17 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities research analysts forecast that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Monday, September 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $0.80 annualized dividend and a yield of 0.99%. Cabot Microelectronics Corporation’s dividend payout ratio is presently 25.08%.
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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