Geode Capital Management LLC cut its position in Cabot Microelectronics Co. (NASDAQ:CCMP) by 10.7% in the fourth quarter, HoldingsChannel reports. The firm owned 274,051 shares of the semiconductor company’s stock after selling 32,901 shares during the quarter. Geode Capital Management LLC’s holdings in Cabot Microelectronics were worth $25,782,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LS Investment Advisors LLC increased its stake in shares of Cabot Microelectronics by 93.4% in the fourth quarter. LS Investment Advisors LLC now owns 1,663 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 803 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Cabot Microelectronics in the fourth quarter worth $198,000. DekaBank Deutsche Girozentrale increased its stake in shares of Cabot Microelectronics by 87.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,246 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 1,048 shares in the last quarter. Shelton Capital Management purchased a new stake in shares of Cabot Microelectronics in the fourth quarter worth $214,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Cabot Microelectronics in the fourth quarter worth $236,000. 95.11% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William P. Noglows sold 17,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $98.86, for a total transaction of $1,680,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Hill sold 1,000 shares of the stock in a transaction 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 transaction, the director now owns 9,011 shares of the company’s stock, valued at approximately $1,020,135.31. 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 ninety days. 3.30% of the stock is currently owned by corporate insiders.
Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results on Thursday, January 25th. The semiconductor company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.17. The company had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $137.90 million. Cabot Microelectronics had a net margin of 11.74% and a return on equity of 16.99%. Cabot Microelectronics’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the company posted $0.92 earnings per share. equities analysts predict that Cabot Microelectronics Co. will post 4.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a 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 dividend payout ratio (DPR) is presently 66.95%.
A number of brokerages have recently issued reports on CCMP. BidaskClub raised shares of Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 23rd. Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Thursday, February 1st. Seaport Global Securities reissued a “buy” rating and issued a $112.00 price objective on shares of Cabot Microelectronics in a research note on Monday, January 29th. Loop Capital increased their price objective on shares of Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Cabot Microelectronics in a research note on Friday, January 26th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company 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.
Want to see what other hedge funds are holding CCMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Microelectronics Co. (NASDAQ:CCMP).
Receive News & Ratings for Cabot Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.