State of Tennessee Treasury Department decreased its stake in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 5.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 22,145 shares of the semiconductor company’s stock after selling 1,400 shares during the period. State of Tennessee Treasury Department owned 0.09% of Cabot Microelectronics Corporation worth $1,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CCMP. Riverhead Capital Management LLC increased its stake 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 acquiring an additional 799 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Cabot Microelectronics Corporation by 17.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock worth $164,000 after acquiring an additional 324 shares during the last quarter. Advisor Group Inc. increased its stake 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 acquiring an additional 100 shares during the last quarter. Victory Capital Management Inc. increased its stake 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 position in Cabot Microelectronics Corporation in the 2nd quarter worth about $235,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Cabot Microelectronics Corporation (NASDAQ:CCMP) opened at $99.75 on Tuesday. The company has a current ratio of 6.04, a quick ratio of 5.25 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2,495.63, a PE ratio of 27.65 and a beta of 1.43. Cabot Microelectronics Corporation has a 1 year low of $57.97 and a 1 year high of $100.00.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.87 by $0.20. The firm had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. Cabot Microelectronics Corporation had a return on equity of 16.27% and a net margin of 17.10%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. sell-side analysts anticipate that Cabot Microelectronics Corporation will post 4.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Monday, September 25th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.80%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 23.60%.

In other news, Director Richard Hill sold 15,638 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $94.58, for a total transaction of $1,479,042.04. Following the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $1,428,536.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yumiko Damashek sold 2,925 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $95.13, for a total value of $278,255.25. Following the transaction, the vice president now owns 31,670 shares in the company, valued at $3,012,767.10. The disclosure for this sale can be found here. Insiders have sold a total of 58,482 shares of company stock worth $5,641,938 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

CCMP has been the topic of a number of research analyst reports. Loop Capital upped their target price on Cabot Microelectronics Corporation from $94.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of Cabot Microelectronics Corporation in a research note on Tuesday, September 19th. Seaport Global Securities initiated coverage on Cabot Microelectronics Corporation in a research note on Wednesday, September 6th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, BidaskClub lowered Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Cabot Microelectronics Corporation has an average rating of “Buy” and an average target price of $99.75.

ILLEGAL ACTIVITY NOTICE: This article was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The correct version of this article can be read at https://www.thecerbatgem.com/2017/11/21/state-of-tennessee-treasury-department-sells-1400-shares-of-cabot-microelectronics-corporation-ccmp.html.

Cabot Microelectronics Corporation Company 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.

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.