The Cabot Microelectronics Corporation (CCMP) Shares Bought by BlackRock Inc.

The Cabot Microelectronics Corporation (CCMP) Shares Bought by BlackRock Inc.

BlackRock Inc. boosted its holdings in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,146,531 shares of the semiconductor company’s stock after buying an additional 193,272 shares during the period. BlackRock Inc. owned approximately 12.47% of Cabot Microelectronics Corporation worth $232,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CCMP. Neuberger Berman Group LLC purchased a new position in shares of Cabot Microelectronics Corporation during the 2nd quarter valued at $36,933,000. Vanguard Group Inc. grew its position in shares of Cabot Microelectronics Corporation by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock valued at $168,125,000 after purchasing an additional 154,495 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Cabot Microelectronics Corporation during the 2nd quarter valued at $9,264,000. JPMorgan Chase & Co. grew its position in shares of Cabot Microelectronics Corporation by 6.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,858,078 shares of the semiconductor company’s stock valued at $137,181,000 after purchasing an additional 120,553 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in shares of Cabot Microelectronics Corporation by 254.9% during the 2nd quarter. Eagle Asset Management Inc. now owns 146,483 shares of the semiconductor company’s stock valued at $10,814,000 after purchasing an additional 105,214 shares in the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.

In other Cabot Microelectronics Corporation news, Director Barbara A. Klein sold 12,502 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.69, for a total transaction of $896,268.38. Following the transaction, the director now owns 34,561 shares of the company’s stock, valued at approximately $2,477,678.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William S. Johnson sold 11,806 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $73.77, for a total transaction of $870,928.62. Following the transaction, the insider now directly owns 94,911 shares in the company, valued at approximately $7,001,584.47. The disclosure for this sale can be found here. Insiders sold a total of 24,740 shares of company stock valued at $1,799,554 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Cabot Microelectronics Corporation (NASDAQ CCMP) opened at 83.09 on Friday. The firm has a 50 day moving average of $75.88 and a 200-day moving average of $75.14. The stock has a market cap of $2.10 billion, a PE ratio of 25.92 and a beta of 1.47. Cabot Microelectronics Corporation has a 52-week low of $50.66 and a 52-week high of $83.18.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.03). The firm had revenue of $128.00 million during the quarter, compared to the consensus estimate of $122.17 million. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. Cabot Microelectronics Corporation’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Equities analysts anticipate that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, September 25th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.96%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 25.08%.

A number of analysts have recently issued reports on the stock. Loop Capital assumed coverage on shares of Cabot Microelectronics Corporation in a report on Thursday, September 28th. They set a “buy” rating and a $94.00 price objective for the company. Zacks Investment Research raised shares of Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Cabot Microelectronics Corporation in a report on Tuesday, September 19th. Seaport Global Securities assumed coverage on shares of Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They set a “buy” rating for the company. Finally, BidaskClub downgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $84.67.

Cabot Microelectronics Corporation Profile

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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