W.E. Donoghue & Co. LLC bought a new position in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 5,871 shares of the semiconductor company’s stock, valued at approximately $646,000.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Cabot Microelectronics by 2.4% during the 1st quarter. BlackRock Inc. now owns 4,271,276 shares of the semiconductor company’s stock worth $478,210,000 after purchasing an additional 100,375 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cabot Microelectronics by 12.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 760,383 shares of the semiconductor company’s stock worth $72,502,000 after acquiring an additional 81,642 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Cabot Microelectronics by 13.8% during the 1st quarter. Wells Fargo & Company MN now owns 703,894 shares of the semiconductor company’s stock worth $78,809,000 after acquiring an additional 85,551 shares during the last quarter. Royce & Associates LP grew its holdings in Cabot Microelectronics by 20.6% during the 1st quarter. Royce & Associates LP now owns 646,060 shares of the semiconductor company’s stock worth $72,333,000 after acquiring an additional 110,404 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Cabot Microelectronics during the 1st quarter worth about $63,551,000. Institutional investors and hedge funds own 98.67% of the company’s stock.
A number of brokerages have commented on CCMP. BidaskClub lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Goldman Sachs Group began coverage on shares of Cabot Microelectronics in a report on Monday, July 8th. They set a “buy” rating and a $148.00 price objective on the stock. Finally, CL King began coverage on shares of Cabot Microelectronics in a report on Monday, July 8th. They set a “buy” rating and a $125.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cabot Microelectronics has a consensus rating of “Buy” and an average target price of $129.20.
Cabot Microelectronics (NASDAQ:CCMP) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.06). The business had revenue of $265.39 million during the quarter, compared to the consensus estimate of $273.30 million. Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%. On average, equities research analysts predict that Cabot Microelectronics Co. will post 6.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Tuesday, June 25th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Monday, June 24th. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 32.18%.
In other news, Director Barbara A. Klein sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $108.28, for a total value of $324,840.00. Following the transaction, the director now owns 26,104 shares of the company’s stock, valued at approximately $2,826,541.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.
Cabot Microelectronics Profile
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.
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