Virginia Retirement Systems ET AL raised its position in Cabot Microelectronics Co. (NASDAQ:CCMP) by 187.7% in the third quarter, Holdings Channel reports. The institutional investor owned 21,000 shares of the semiconductor company’s stock after purchasing an additional 13,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Cabot Microelectronics were worth $2,167,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Cabot Microelectronics by 2.9% during the second quarter. BlackRock Inc. now owns 3,548,640 shares of the semiconductor company’s stock worth $381,692,000 after purchasing an additional 100,080 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Cabot Microelectronics by 6.2% during the second quarter. Renaissance Technologies LLC now owns 1,263,109 shares of the semiconductor company’s stock worth $135,860,000 after purchasing an additional 73,200 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Cabot Microelectronics by 66.5% during the third quarter. Wells Fargo & Company MN now owns 422,161 shares of the semiconductor company’s stock worth $43,555,000 after purchasing an additional 168,567 shares during the last quarter. Northern Trust Corp lifted its position in shares of Cabot Microelectronics by 2.8% during the second quarter. Northern Trust Corp now owns 330,304 shares of the semiconductor company’s stock worth $35,527,000 after purchasing an additional 9,086 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of Cabot Microelectronics by 33.6% during the second quarter. Eagle Asset Management Inc. now owns 230,730 shares of the semiconductor company’s stock worth $24,817,000 after purchasing an additional 58,040 shares during the last quarter. 95.92% of the stock is owned by institutional investors.

Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $119.00 price target on the stock in a research report on Monday, November 5th. BidaskClub raised shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Loop Capital set a $117.00 price target on shares of Cabot Microelectronics and gave the stock a “buy” rating in a research report on Monday, August 20th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $117.00.

CCMP opened at $102.17 on Tuesday. The stock has a market cap of $2.64 billion, a P/E ratio of 19.57 and a beta of 1.27. Cabot Microelectronics Co. has a fifty-two week low of $89.19 and a fifty-two week high of $123.76.

Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.14. The firm had revenue of $156.70 million for the quarter, compared to analyst estimates of $155.65 million. Cabot Microelectronics had a net margin of 18.64% and a return on equity of 21.59%. Cabot Microelectronics’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 earnings per share. Analysts expect that Cabot Microelectronics Co. will post 6.9 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Tuesday, October 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 5th. This represents a $1.60 annualized dividend and a yield of 1.57%. Cabot Microelectronics’s dividend payout ratio (DPR) is 30.65%.

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About Cabot Microelectronics

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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