Prudential Financial Inc. trimmed its position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,381 shares of the semiconductor company’s stock after selling 32,330 shares during the quarter. Prudential Financial Inc. owned approximately 0.54% of Cabot Microelectronics Corporation worth $10,901,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Alps Advisors Inc. boosted its position in Cabot Microelectronics Corporation by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,872 shares of the semiconductor company’s stock valued at $507,000 after acquiring an additional 18 shares in the last quarter. BB&T Securities LLC boosted its position in Cabot Microelectronics Corporation by 0.6% during the 2nd quarter. BB&T Securities LLC now owns 8,468 shares of the semiconductor company’s stock valued at $625,000 after acquiring an additional 48 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Cabot Microelectronics Corporation by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the semiconductor company’s stock valued at $760,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System boosted its position in Cabot Microelectronics Corporation by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock valued at $971,000 after acquiring an additional 100 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in Cabot Microelectronics Corporation by 4.5% during the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock valued at $172,000 after acquiring an additional 100 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

CCMP has been the subject of several recent research reports. Zacks Investment Research lowered shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. BidaskClub lowered shares of Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Citigroup Inc. lifted their target price on shares of Cabot Microelectronics Corporation from $80.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Loop Capital lifted their target price on shares of Cabot Microelectronics Corporation from $94.00 to $108.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Seaport Global Securities initiated coverage on shares of Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cabot Microelectronics Corporation currently has an average rating of “Buy” and a consensus price target of $99.75.

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Cabot Microelectronics Corporation (NASDAQ:CCMP) opened at $100.62 on Thursday. Cabot Microelectronics Corporation has a 1-year low of $57.97 and a 1-year high of $102.92. The stock has a market cap of $2,604.92, a P/E ratio of 28.86 and a beta of 1.43. The company has a current ratio of 6.04, a quick ratio of 5.25 and a debt-to-equity ratio of 0.22.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last released its earnings results on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics Corporation had a net margin of 17.10% and a return on equity of 16.27%. The firm had revenue of $136.80 million during the quarter, compared to analyst estimates of $132.18 million. During the same period last year, the business earned $0.91 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. sell-side analysts predict that Cabot Microelectronics Corporation will post 4.02 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Monday, September 25th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.80%. Cabot Microelectronics Corporation’s payout ratio is currently 23.60%.

In related news, VP Yumiko Damashek sold 2,925 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $95.13, for a total value of $278,255.25. Following the completion of the transaction, the vice president now directly owns 31,670 shares in the company, valued at approximately $3,012,767.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Hill sold 15,638 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $94.58, for a total transaction of $1,479,042.04. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $1,428,536.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,227 shares of company stock valued at $6,228,388. 5.50% of the stock is owned by company insiders.

About Cabot Microelectronics Corporation

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

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