Jefferies Group LLC lifted its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 51.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,296 shares of the semiconductor company’s stock after purchasing an additional 1,457 shares during the quarter. Jefferies Group LLC’s holdings in Cabot Microelectronics were worth $443,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in Cabot Microelectronics by 20.6% in the second quarter. Envestnet Asset Management Inc. now owns 8,278 shares of the semiconductor company’s stock valued at $891,000 after acquiring an additional 1,414 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Cabot Microelectronics in the second quarter valued at approximately $316,000. Point72 Asset Management L.P. bought a new position in Cabot Microelectronics in the second quarter valued at approximately $1,560,000. OLD National Bancorp IN bought a new position in Cabot Microelectronics in the third quarter valued at approximately $266,000. Finally, Bank of Montreal Can increased its stake in Cabot Microelectronics by 49.8% in the second quarter. Bank of Montreal Can now owns 5,471 shares of the semiconductor company’s stock valued at $587,000 after acquiring an additional 1,820 shares during the last quarter. 99.31% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on CCMP shares. Loop Capital set a $123.00 price objective on shares of Cabot Microelectronics and gave the company a “buy” rating in a research note on Thursday, November 29th. BidaskClub cut shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $119.00 price objective on the stock in a research note on Monday, November 5th. Finally, Buckingham Research started coverage on shares of Cabot Microelectronics in a research note on Thursday, November 29th. They issued a “buy” rating and a $130.00 price objective on the stock. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $120.80.
Cabot Microelectronics (NASDAQ:CCMP) last issued its earnings results on Wednesday, October 24th. The semiconductor company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.14. Cabot Microelectronics had a net margin of 18.64% and a return on equity of 21.59%. The firm had revenue of $156.70 million for the quarter, compared to analyst estimates of $155.65 million. During the same quarter last year, the business posted $1.07 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. Equities research analysts expect that Cabot Microelectronics Co. will post 6.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Friday, December 21st will be given a $0.40 dividend. The ex-dividend date is Thursday, December 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.70%. Cabot Microelectronics’s dividend payout ratio is currently 30.65%.
In other Cabot Microelectronics news, Director Barbara A. Klein sold 5,635 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $102.68, for a total value of $578,601.80. Following the sale, the director now owns 33,830 shares in the company, valued at $3,473,664.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ananth Naman sold 7,539 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $97.08, for a total transaction of $731,886.12. Following the completion of the sale, the vice president now owns 13,230 shares in the company, valued at approximately $1,284,368.40. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
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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 chemical mechanical planarization (CMP) process. It provides CMP slurries, which are liquid solutions composed of high-purity deionized water, proprietary chemical additives, and engineered abrasives that chemically and mechanically interact with the surface material of the IC device at an atomic level; and CMP pads that are engineered polymeric materials designed to distribute and transport the slurry to the surface of the wafer and distribute it evenly across the wafer.
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