Westfield Capital Management Co. LP acquired a new position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,723 shares of the semiconductor company’s stock, valued at approximately $857,000.

Several other hedge funds and other institutional investors have also modified their holdings of CCMP. Neuberger Berman Group LLC purchased a new stake in Cabot Microelectronics in the second quarter worth approximately $36,933,000. BlackRock Inc. boosted its stake in Cabot Microelectronics by 6.5% in the second quarter. BlackRock Inc. now owns 3,146,531 shares of the semiconductor company’s stock worth $232,307,000 after buying an additional 193,272 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cabot Microelectronics by 7.3% in the second quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock worth $173,886,000 after buying an additional 160,668 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Cabot Microelectronics by 33.9% in the second quarter. Renaissance Technologies LLC now owns 573,109 shares of the semiconductor company’s stock worth $42,313,000 after buying an additional 145,109 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Cabot Microelectronics in the second quarter worth approximately $9,264,000. 93.12% of the stock is owned by institutional investors.

Shares of Cabot Microelectronics Corporation (NASDAQ CCMP) opened at $92.57 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.04 and a quick ratio of 5.25. Cabot Microelectronics Corporation has a 12-month low of $60.13 and a 12-month high of $102.92. The firm has a market capitalization of $2,405.10, a P/E ratio of 26.64 and a beta of 1.42.

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

CCMP has been the subject of several research reports. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $112.00 target price for the company in a research note on Tuesday, November 7th. Loop Capital boosted their price objective on Cabot Microelectronics from $94.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Seaport Global Securities assumed coverage on Cabot Microelectronics in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. Citigroup boosted their price objective on Cabot Microelectronics from $80.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Cabot Microelectronics in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Cabot Microelectronics has a consensus rating of “Buy” and a consensus target price of $99.75.

In related news, Director Richard Hill sold 15,638 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 15,104 shares in the company, valued at $1,428,536.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Yumiko Damashek sold 817 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $97.58, for a total value of $79,722.86. Following the transaction, the vice president now owns 30,120 shares of the company’s stock, valued at approximately $2,939,109.60. The disclosure for this sale can be found here. Insiders sold 72,794 shares of company stock valued at $7,028,546 in the last quarter. Corporate insiders own 5.50% of the company’s stock.

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Cabot Microelectronics 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 (NASDAQ:CCMP)

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