Earnest Partners LLC Boosts Position in Cabot Microelectronics Co. (NASDAQ:CCMP)

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Earnest Partners LLC raised its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 1.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,202,624 shares of the semiconductor company’s stock after purchasing an additional 16,306 shares during the period. Cabot Microelectronics accounts for about 1.2% of Earnest Partners LLC’s portfolio, making the stock its 15th largest position. Earnest Partners LLC owned 4.14% of Cabot Microelectronics worth $132,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bremer Bank National Association purchased a new position in shares of Cabot Microelectronics in the 1st quarter worth approximately $32,000. Huntington National Bank grew its position in shares of Cabot Microelectronics by 81.1% in the 2nd quarter. Huntington National Bank now owns 306 shares of the semiconductor company’s stock worth $34,000 after buying an additional 137 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Cabot Microelectronics in the 1st quarter worth approximately $91,000. Systematic Financial Management LP purchased a new position in shares of Cabot Microelectronics in the 1st quarter worth approximately $179,000. Finally, United Capital Financial Advisers LLC purchased a new position in shares of Cabot Microelectronics in the 2nd quarter worth approximately $206,000. 99.66% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently commented on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Cabot Microelectronics in a research note on Wednesday, August 7th. Buckingham Research lifted their target price on shares of Cabot Microelectronics from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. BidaskClub upgraded shares of Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Goldman Sachs Group assumed coverage on shares of Cabot Microelectronics in a research note on Monday, July 8th. They issued a “buy” rating and a $148.00 target price for the company. Finally, CL King assumed coverage on shares of Cabot Microelectronics in a research note on Monday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $133.20.

Shares of NASDAQ CCMP opened at $139.06 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.12 and a debt-to-equity ratio of 0.91. The company has a 50 day simple moving average of $121.79 and a two-hundred day simple moving average of $114.67. Cabot Microelectronics Co. has a 12 month low of $82.24 and a 12 month high of $139.49. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 26.64 and a beta of 1.37.

Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). Cabot Microelectronics had a net margin of 11.76% and a return on equity of 21.77%. The firm had revenue of $271.88 million during the quarter, compared to analyst estimates of $266.80 million. Analysts forecast that Cabot Microelectronics Co. will post 6.68 EPS for the current year.

In related news, Director Barbara A. Klein sold 5,196 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $123.38, for a total value of $641,082.48. Following the completion of the transaction, the director now directly owns 34,808 shares in the company, valued at approximately $4,294,611.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daniel D. Woodland sold 3,137 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $114.11, for a total transaction of $357,963.07. Following the completion of the transaction, the vice president now owns 15,422 shares of the company’s stock, valued at $1,759,804.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,758 shares of company stock valued at $4,133,175. Company insiders own 2.20% of the company’s stock.

Cabot Microelectronics Company Profile

Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.

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

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