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.

TRADEMARK VIOLATION WARNING: “Navellier & Associates Inc Has $1.45 Million Position in Cabot Microelectronics Corporation (CCMP)” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another publication, it was stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/10/17/navellier-associates-inc-has-1-45-million-position-in-cabot-microelectronics-corporation-ccmp.html.

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.

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

Receive News & Stock Ratings for Cabot Microelectronics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Microelectronics Corporation and related stocks with our FREE daily email newsletter.