SG Americas Securities LLC lifted its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 76.9% during the second quarter, HoldingsChannel reports. The firm owned 15,825 shares of the semiconductor company’s stock after purchasing an additional 6,881 shares during the period. SG Americas Securities LLC’s holdings in Cabot Microelectronics were worth $1,702,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Cabot Microelectronics by 3.7% in the first quarter. BlackRock Inc. now owns 3,448,560 shares of the semiconductor company’s stock worth $369,375,000 after purchasing an additional 124,542 shares in the last quarter. Allianz Asset Management GmbH raised its position in Cabot Microelectronics by 4.1% during the first quarter. Allianz Asset Management GmbH now owns 379,252 shares of the semiconductor company’s stock worth $40,622,000 after acquiring an additional 14,832 shares in the last quarter. Northern Trust Corp raised its position in Cabot Microelectronics by 1.5% during the first quarter. Northern Trust Corp now owns 321,218 shares of the semiconductor company’s stock worth $34,406,000 after acquiring an additional 4,641 shares in the last quarter. Wells Fargo & Company MN raised its position in Cabot Microelectronics by 29.4% during the second quarter. Wells Fargo & Company MN now owns 253,594 shares of the semiconductor company’s stock worth $27,276,000 after acquiring an additional 57,641 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Cabot Microelectronics by 3.6% during the first quarter. Principal Financial Group Inc. now owns 214,155 shares of the semiconductor company’s stock worth $22,938,000 after acquiring an additional 7,366 shares in the last quarter. 95.40% of the stock is currently owned by institutional investors and hedge funds.

In other Cabot Microelectronics news, VP Ananth Naman sold 3,034 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $116.32, for a total value of $352,914.88. Following the transaction, the vice president now directly owns 16,803 shares in the company, valued at $1,954,524.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.30% of the stock is owned by insiders.

Several research firms have issued reports on CCMP. BidaskClub lowered shares of Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 17th. Loop Capital upped their price target on shares of Cabot Microelectronics from $123.00 to $134.00 and gave the stock a “positive” rating in a research report on Friday, July 27th. ValuEngine lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $115.00.

NASDAQ CCMP opened at $112.10 on Friday. Cabot Microelectronics Co. has a 1 year low of $69.09 and a 1 year high of $123.76. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 31.49 and a beta of 1.37.

Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Wednesday, July 25th. The semiconductor company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.17. Cabot Microelectronics had a net margin of 15.47% and a return on equity of 20.40%. The firm had revenue of $150.40 million for the quarter, compared to the consensus estimate of $146.58 million. During the same period in the previous year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. equities analysts anticipate that Cabot Microelectronics Co. will post 5.09 EPS for the current fiscal year.

Cabot Microelectronics Company Profile

Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers.

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

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