Goldman Sachs Group Inc. Acquires 21,526 Shares of Cabot Microelectronics Co. (CCMP)

Goldman Sachs Group Inc. boosted its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,884 shares of the semiconductor company’s stock after acquiring an additional 21,526 shares during the period. Goldman Sachs Group Inc. owned 1.00% of Cabot Microelectronics worth $24,073,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in Cabot Microelectronics by 0.3% during the 4th quarter. BlackRock Inc. now owns 3,324,018 shares of the semiconductor company’s stock valued at $312,722,000 after acquiring an additional 10,871 shares during the period. JPMorgan Chase & Co. lifted its position in Cabot Microelectronics by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,882,237 shares of the semiconductor company’s stock valued at $147,623,000 after acquiring an additional 24,159 shares during the period. Earnest Partners LLC raised its holdings in Cabot Microelectronics by 1.4% in the third quarter. Earnest Partners LLC now owns 1,288,634 shares of the semiconductor company’s stock worth $103,001,000 after buying an additional 18,153 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Cabot Microelectronics by 28.6% in the fourth quarter. Renaissance Technologies LLC now owns 988,917 shares of the semiconductor company’s stock worth $93,037,000 after buying an additional 219,708 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in Cabot Microelectronics by 97.2% in the third 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. 95.11% of the stock is owned by institutional investors.

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Cabot Microelectronics stock opened at $108.05 on Friday. The company has a current ratio of 6.53, a quick ratio of 5.71 and a debt-to-equity ratio of 0.21. Cabot Microelectronics Co. has a twelve month low of $68.00 and a twelve month high of $115.94. The firm has a market cap of $2,767.05, a P/E ratio of 28.21 and a beta of 1.41.

Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. Cabot Microelectronics had a net margin of 11.74% and a return on equity of 16.99%. The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $137.90 million. During the same period in the previous year, the company earned $0.92 earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. analysts anticipate that Cabot Microelectronics Co. will post 4.71 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.48%. 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 payout ratio is presently 66.95%.

Several brokerages have issued reports on CCMP. BidaskClub raised shares of Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price (up from $110.00) on shares of Cabot Microelectronics in a report on Friday, January 26th. Seaport Global Securities reaffirmed a “buy” rating and issued a $112.00 target price on shares of Cabot Microelectronics in a report on Monday, January 29th. Loop Capital lifted their target price on shares of Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Thursday, February 1st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $110.40.

In related news, Director Richard Hill sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $113.21, for a total transaction of $113,210.00. Following the completion of the sale, the director now directly owns 9,011 shares in the company, valued at $1,020,135.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bernstein H. Carol Eckstein sold 19,425 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $101.51, for a total transaction of $1,971,831.75. Following the sale, the vice president now owns 57,487 shares of the company’s stock, valued at $5,835,505.37. The disclosure for this sale can be found here. Insiders have sold 70,236 shares of company stock valued at $7,247,782 over the last three months. 3.30% of the stock is owned by corporate insiders.

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Cabot Microelectronics Company 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.

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

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