Cabot Microelectronics Co. (CCMP) Shares Sold by Wells Fargo & Company MN
Wells Fargo & Company MN trimmed its position in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 206,285 shares of the semiconductor company’s stock after selling 3,683 shares during the period. Wells Fargo & Company MN’s holdings in Cabot Microelectronics were worth $19,407,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Cabot Microelectronics by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,882,237 shares of the semiconductor company’s stock valued at $147,623,000 after acquiring an additional 24,159 shares during the period. Earnest Partners LLC boosted its holdings in Cabot Microelectronics by 1.4% during the 3rd quarter. Earnest Partners LLC now owns 1,288,634 shares of the semiconductor company’s stock valued at $103,001,000 after acquiring an additional 18,153 shares during the period. Neuberger Berman Group LLC boosted its holdings in Cabot Microelectronics by 97.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 986,513 shares of the semiconductor company’s stock valued at $78,852,000 after acquiring an additional 486,275 shares during the period. Royce & Associates LP boosted its holdings in Cabot Microelectronics by 17.0% during the 3rd quarter. Royce & Associates LP now owns 724,192 shares of the semiconductor company’s stock valued at $57,885,000 after acquiring an additional 105,067 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in Cabot Microelectronics by 2.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 431,879 shares of the semiconductor company’s stock valued at $34,520,000 after acquiring an additional 12,261 shares during the period. Institutional investors own 92.60% of the company’s stock.
A number of equities analysts recently commented on the company. BidaskClub upgraded Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Cabot Microelectronics in a research note on Friday, January 26th. Zacks Investment Research upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Thursday, February 1st. Seaport Global Securities reiterated a “buy” rating and issued a $112.00 price objective on shares of Cabot Microelectronics in a research note on Monday, January 29th. Finally, Loop Capital lifted their price objective on Cabot Microelectronics from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $110.40.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $137.90 million. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. sell-side analysts expect that Cabot Microelectronics Co. will post 4.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 23rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 22nd. This is a boost from Cabot Microelectronics’s previous quarterly dividend of $0.20. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 33.47%.
In related news, insider Thomas S. Roman sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $108.16, for a total transaction of $703,040.00. Following the completion of the sale, the insider now owns 9,915 shares in the company, valued at $1,072,406.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William P. Noglows sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $98.86, for a total value of $1,680,620.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,830 shares of company stock valued at $6,174,907. 3.30% of the stock is owned by company insiders.
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About Cabot Microelectronics
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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