California State Teachers Retirement System decreased its position in Cabot Microelectronics Co. (NASDAQ:CCMP) by 9.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,869 shares of the semiconductor company’s stock after selling 4,282 shares during the period. California State Teachers Retirement System’s holdings in Cabot Microelectronics were worth $3,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Advisor Group Inc. raised its holdings in Cabot Microelectronics by 4.5% in the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock valued at $172,000 after acquiring an additional 100 shares in the last quarter. Stifel Financial Corp raised its holdings in Cabot Microelectronics by 0.8% in the 2nd quarter. Stifel Financial Corp now owns 19,018 shares of the semiconductor company’s stock valued at $1,404,000 after acquiring an additional 147 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in Cabot Microelectronics by 2.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 8,080 shares of the semiconductor company’s stock valued at $595,000 after acquiring an additional 200 shares in the last quarter. M&T Bank Corp raised its holdings in Cabot Microelectronics by 4.5% in the 2nd quarter. M&T Bank Corp now owns 5,802 shares of the semiconductor company’s stock valued at $429,000 after acquiring an additional 251 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Cabot Microelectronics by 17.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 324 shares in the last quarter. 93.08% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Bernstein H. Carol Eckstein sold 905 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $91.94, for a total transaction of $83,205.70. Following the completion of the sale, the vice president now directly owns 54,150 shares of the company’s stock, valued at approximately $4,978,551. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yumiko Damashek sold 2,925 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $95.13, for a total value of $278,255.25. Following the sale, the vice president now directly owns 31,670 shares of the company’s stock, valued at $3,012,767.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,699 shares of company stock valued at $7,111,751. 5.50% of the stock is currently owned by insiders.

CCMP has been the subject of several recent research reports. BidaskClub raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Citigroup upped their price target on Cabot Microelectronics from $80.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Loop Capital upped their price target on Cabot Microelectronics from $94.00 to $108.00 and gave the company a “buy” rating in a report on Friday, October 27th. Zacks Investment Research cut Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price target on shares of Cabot Microelectronics in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $99.75.

Cabot Microelectronics Co. (NASDAQ:CCMP) opened at $96.99 on Thursday. Cabot Microelectronics Co. has a twelve month low of $62.57 and a twelve month high of $102.92. The company has a quick ratio of 5.25, a current ratio of 6.04 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2,490.00, a P/E ratio of 28.70 and a beta of 1.43.

Cabot Microelectronics (NASDAQ:CCMP) last issued its earnings results on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics had a return on equity of 18.13% and a net margin of 19.38%. The business had revenue of $136.80 million during the quarter, compared to analysts’ expectations of $132.18 million. During the same period in the prior year, the firm posted $0.91 EPS. Cabot Microelectronics’s quarterly revenue was up 11.5% compared to the same quarter last year. research analysts predict that Cabot Microelectronics Co. will post 4.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.82%. Cabot Microelectronics’s payout ratio is presently 23.67%.

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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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