PDT Partners LLC raised its position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 81.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,200 shares of the semiconductor company’s stock after buying an additional 15,400 shares during the quarter. PDT Partners LLC owned about 0.14% of Cabot Microelectronics Corporation worth $2,525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Riverhead Capital Management LLC boosted its holdings in shares of 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 valued at $125,000 after buying an additional 799 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Cabot Microelectronics Corporation in the 1st quarter worth approximately $146,000. Advisor Group Inc. grew its position in shares of 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 buying an additional 100 shares during the last quarter. Bank of Montreal Can grew its position in shares of Cabot Microelectronics Corporation by 63.2% in the 1st 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 during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of 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 buying an additional 415 shares during the last quarter. 93.85% of the stock is owned by institutional investors and hedge funds.

In other news, Director Barbara A. Klein sold 12,502 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 34,561 shares in the company, valued at $2,477,678.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel D. Woodland sold 432 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $74.90, for a total value of $32,356.80. Following the sale, the vice president now owns 17,588 shares of the company’s stock, valued at approximately $1,317,341.20. The disclosure for this sale can be found here. Insiders sold a total of 24,740 shares of company stock worth $1,799,554 over the last quarter. Company insiders own 5.50% of the company’s stock.

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Shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) opened at 81.09 on Wednesday. Cabot Microelectronics Corporation has a 1-year low of $50.66 and a 1-year high of $81.85. The stock has a market capitalization of $2.05 billion, a PE ratio of 25.29 and a beta of 1.47. The firm has a 50-day moving average price of $72.92 and a 200-day moving average price of $74.68.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.03). The company had revenue of $128.00 million during the quarter, compared to analyst estimates of $122.17 million. Cabot Microelectronics Corporation had a net margin of 16.41% and a return on equity of 16.08%. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. On average, equities research analysts forecast that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Monday, September 25th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. Cabot Microelectronics Corporation’s payout ratio is 25.08%.

A number of research firms recently commented on CCMP. Zacks Investment Research cut shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. BidaskClub downgraded shares of Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Needham & Company LLC raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, June 27th. Seaport Global Securities began coverage on shares of Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. Finally, Loop Capital initiated coverage on shares of Cabot Microelectronics Corporation in a report on Thursday, September 28th. They issued a “buy” rating and a $94.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Cabot Microelectronics Corporation currently has a consensus rating of “Hold” and a consensus price target of $84.67.

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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