Navellier & Associates Inc Has $1.45 Million Position in Cabot Microelectronics Corporation (CCMP)
Navellier & Associates Inc increased its holdings in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,590 shares of the semiconductor company’s stock after purchasing an additional 1,224 shares during the quarter. Navellier & Associates Inc owned 0.08% of Cabot Microelectronics Corporation worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of CCMP. Riverhead Capital Management LLC raised its position in 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 worth $125,000 after purchasing an additional 799 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Cabot Microelectronics Corporation in the 1st quarter worth $146,000. Advisor Group Inc. raised its position in 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 purchasing an additional 100 shares during the period. Victory Capital Management Inc. grew its holdings in 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 acquiring an additional 415 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in Cabot Microelectronics Corporation in the 2nd quarter worth $235,000. Institutional investors own 93.85% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Loop Capital assumed 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. BidaskClub raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Cabot Microelectronics Corporation in a report on Tuesday, September 19th. Finally, Seaport Global Securities assumed coverage on shares of Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $84.67.
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In other news, VP Daniel D. Woodland sold 432 shares of the stock in a transaction on Tuesday, August 1st. The shares were 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 $1,317,341.20. The sale was disclosed in a legal 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 on Wednesday, August 2nd. The shares were sold at an average price of $73.77, for a total transaction of $870,928.62. Following the completion of the sale, 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. In the last three months, insiders sold 24,740 shares of company stock worth $1,799,554. Insiders own 5.50% of the company’s stock.
Shares of Cabot Microelectronics Corporation (CCMP) traded up 0.80% during midday trading on Tuesday, reaching $83.97. 21,270 shares of the company’s stock were exchanged. The stock has a market cap of $2.12 billion, a PE ratio of 26.19 and a beta of 1.47. Cabot Microelectronics Corporation has a 12-month low of $50.66 and a 12-month high of $84.10. The stock’s 50 day moving average is $75.88 and its 200-day moving average is $75.15.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $122.17 million. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts expect that Cabot Microelectronics Corporation will post $3.35 EPS for the current year.
The company also recently announced 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 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, September 22nd. Cabot Microelectronics Corporation’s dividend payout ratio is currently 25.08%.
About Cabot Microelectronics Corporation
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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