Cabot Microelectronics Co. (CCMP) Shares Bought by ClariVest Asset Management LLC

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ClariVest Asset Management LLC lifted its stake in Cabot Microelectronics Co. (NASDAQ:CCMP) by 19.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,332 shares of the semiconductor company’s stock after acquiring an additional 11,427 shares during the period. ClariVest Asset Management LLC owned approximately 0.25% of Cabot Microelectronics worth $6,801,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Huntington National Bank bought a new position in Cabot Microelectronics in the fourth quarter worth $30,000. Private Capital Group LLC lifted its position in Cabot Microelectronics by 1,627.3% in the fourth quarter. Private Capital Group LLC now owns 380 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 358 shares during the period. IFP Advisors Inc lifted its position in Cabot Microelectronics by 250.0% in the fourth quarter. IFP Advisors Inc now owns 427 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 305 shares during the period. We Are One Seven LLC bought a new position in Cabot Microelectronics in the fourth quarter worth $69,000. Finally, First Quadrant L P CA bought a new position in Cabot Microelectronics in the third quarter worth $139,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Shares of CCMP stock opened at $97.21 on Tuesday. The firm has a market capitalization of $2.83 billion, a P/E ratio of 18.62 and a beta of 1.17. Cabot Microelectronics Co. has a one year low of $82.24 and a one year high of $123.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.24 and a quick ratio of 2.39.

Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Wednesday, February 6th. The semiconductor company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.47. The company had revenue of $221.80 million during the quarter, compared to analysts’ expectations of $217.90 million. Cabot Microelectronics had a return on equity of 21.57% and a net margin of 18.83%. The business’s revenue was up 58.5% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. As a group, sell-side analysts predict that Cabot Microelectronics Co. will post 6.62 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Friday, December 21st were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, December 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. Cabot Microelectronics’s dividend payout ratio is 30.65%.

In related news, Director Barbara A. Klein sold 5,635 shares of Cabot Microelectronics stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $102.68, for a total value of $578,601.80. Following the completion of the transaction, the director now directly owns 33,830 shares of the company’s stock, valued at $3,473,664.40. The transaction 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 Cabot Microelectronics stock in a transaction dated Monday, December 10th. The shares were sold at an average price of $97.08, for a total value of $731,886.12. Following the completion of the transaction, the vice president now directly owns 13,230 shares of the company’s stock, valued at $1,284,368.40. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Several brokerages recently commented on CCMP. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $119.00 target price for the company in a research report on Monday, November 5th. Loop Capital set a $123.00 target price on Cabot Microelectronics and gave the stock a “buy” rating in a research report on Thursday, November 29th. Buckingham Research began coverage on Cabot Microelectronics in a research report on Thursday, November 29th. They issued a “buy” rating and a $130.00 target price for the company. Finally, BidaskClub raised Cabot Microelectronics from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $124.00.

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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.

Further Reading: Understanding each part of a balance sheet

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

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