Bank of New York Mellon Corp lowered its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 389,553 shares of the semiconductor company’s stock after selling 11,127 shares during the period. Bank of New York Mellon Corp’s holdings in Cabot Microelectronics were worth $36,649,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of CCMP. Neuberger Berman Group LLC lifted its holdings in Cabot Microelectronics by 97.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 986,513 shares of the semiconductor company’s stock worth $78,852,000 after buying an additional 486,275 shares during the last quarter. Royce & Associates LP lifted its holdings in Cabot Microelectronics by 17.0% during the 3rd quarter. Royce & Associates LP now owns 724,192 shares of the semiconductor company’s stock worth $57,885,000 after buying an additional 105,067 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Cabot Microelectronics during the 4th quarter worth approximately $5,884,000. WCM Investment Management CA lifted its holdings in Cabot Microelectronics by 225.8% during the 4th quarter. WCM Investment Management CA now owns 65,305 shares of the semiconductor company’s stock worth $6,144,000 after buying an additional 45,260 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Cabot Microelectronics by 25.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 183,720 shares of the semiconductor company’s stock worth $14,842,000 after buying an additional 37,237 shares during the last quarter. 95.12% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Bernstein H. Carol Eckstein sold 19,425 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $101.51, for a total value of $1,971,831.75. Following the sale, the vice president now directly owns 57,487 shares in the company, valued at approximately $5,835,505.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David H. Li sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.13, for a total value of $1,736,210.00. Following the completion of the sale, the insider now owns 77,892 shares in the company, valued at $7,955,109.96. The disclosure for this sale can be found here. Insiders have sold a total of 65,641 shares of company stock worth $6,712,248 over the last quarter. Insiders own 3.30% of the company’s stock.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. The business had revenue of $140.00 million for the quarter, compared to analysts’ expectations of $137.90 million. Cabot Microelectronics had a return on equity of 19.98% and a net margin of 21.29%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. research analysts predict that Cabot Microelectronics Co. will post 4.71 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.43%. This is a boost from Cabot Microelectronics’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, March 22nd. Cabot Microelectronics’s dividend payout ratio is presently 21.68%.
A number of research analysts have commented on the company. BidaskClub raised Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday, February 23rd. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Thursday, February 1st. Seaport Global Securities reaffirmed a “buy” rating and set a $112.00 target price on shares of Cabot Microelectronics in a report on Monday, January 29th. Loop Capital increased their target price on Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 target price (up previously from $110.00) on shares of Cabot Microelectronics in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $110.40.
About Cabot Microelectronics
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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