State of Alaska Department of Revenue Acquires 165 Shares of Cabot Microelectronics Co. (CCMP)

State of Alaska Department of Revenue lifted its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 1.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,757 shares of the semiconductor company’s stock after acquiring an additional 165 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cabot Microelectronics were worth $1,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Cabot Microelectronics by 13.0% in the 4th quarter. Legal & General Group Plc now owns 68,698 shares of the semiconductor company’s stock worth $6,524,000 after acquiring an additional 7,912 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Cabot Microelectronics by 19.0% in the 4th quarter. Arizona State Retirement System now owns 44,125 shares of the semiconductor company’s stock worth $4,207,000 after acquiring an additional 7,060 shares during the last quarter. Enlightenment Research LLC bought a new stake in shares of Cabot Microelectronics in the 4th quarter worth approximately $29,000. Convergence Investment Partners LLC purchased a new position in shares of Cabot Microelectronics in the fourth quarter worth $1,505,000. Finally, NumerixS Investment Technologies Inc increased its stake in shares of Cabot Microelectronics by 60.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 800 shares of the semiconductor company’s stock worth $75,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Shares of NASDAQ CCMP opened at $126.74 on Friday. The company has a current ratio of 3.18, a quick ratio of 2.34 and a debt-to-equity ratio of 1.03. Cabot Microelectronics Co. has a 52 week low of $82.24 and a 52 week high of $128.37. The firm has a market capitalization of $3.67 billion, a P/E ratio of 21.34 and a beta of 1.17.

Cabot Microelectronics (NASDAQ:CCMP) last issued its earnings results on Wednesday, February 6th. The semiconductor company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.43 by $0.47. Cabot Microelectronics had a net margin of 18.83% and a return on equity of 21.57%. The company had revenue of $221.80 million for the quarter, compared to the consensus estimate of $217.90 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s revenue for the quarter was up 58.5% on a year-over-year basis. On average, analysts anticipate that Cabot Microelectronics Co. will post 7.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 21st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.33%. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, March 20th. Cabot Microelectronics’s payout ratio is presently 32.18%.

Several research analysts recently commented on CCMP shares. Zacks Investment Research raised shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th. BidaskClub raised shares of Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cabot Microelectronics currently has a consensus rating of “Buy” and a consensus price target of $124.33.

In related news, VP Jeffrey Michael Dysard sold 3,133 shares of Cabot Microelectronics stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $104.88, for a total value of $328,589.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by insiders.

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About Cabot Microelectronics

Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.

Read More: Gross Domestic Product (GDP)

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

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