Virginia Retirement Systems ET AL Purchases Shares of 16,800 Cabot Microelectronics Corporation (CCMP)
Virginia Retirement Systems ET AL purchased a new stake in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,800 shares of the semiconductor company’s stock, valued at approximately $1,343,000. Virginia Retirement Systems ET AL owned 0.07% of Cabot Microelectronics at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CCMP. Neuberger Berman Group LLC acquired a new stake in shares of Cabot Microelectronics during the second quarter valued at approximately $36,933,000. BlackRock Inc. raised its holdings in shares of Cabot Microelectronics by 6.5% during the second quarter. BlackRock Inc. now owns 3,146,531 shares of the semiconductor company’s stock valued at $232,307,000 after acquiring an additional 193,272 shares during the period. Vanguard Group Inc. raised its holdings in shares of Cabot Microelectronics by 7.3% during the second quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock valued at $173,886,000 after acquiring an additional 160,668 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Cabot Microelectronics by 33.9% during the second quarter. Renaissance Technologies LLC now owns 573,109 shares of the semiconductor company’s stock valued at $42,313,000 after acquiring an additional 145,109 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in shares of Cabot Microelectronics during the second quarter valued at approximately $9,264,000. Institutional investors and hedge funds own 93.12% of the company’s stock.
In other news, Director Richard Hill sold 15,638 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $94.58, for a total transaction of $1,479,042.04. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $1,428,536.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Yumiko Damashek sold 2,925 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $95.13, for a total transaction of $278,255.25. Following the transaction, the vice president now owns 31,670 shares in the company, valued at approximately $3,012,767.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,794 shares of company stock worth $7,028,546. Company insiders own 5.50% of the company’s stock.
A number of research firms have recently issued reports on CCMP. Zacks Investment Research lowered shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Loop Capital began coverage on shares of Cabot Microelectronics in a report on Thursday, September 28th. They set a “buy” rating and a $94.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Cabot Microelectronics in a report on Tuesday, September 19th. Seaport Global Securities assumed coverage on shares of Cabot Microelectronics in a research note on Wednesday, September 6th. They issued a “buy” rating on the stock. Finally, Citigroup upped their price objective on shares of Cabot Microelectronics from $80.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $99.75.
Cabot Microelectronics Corporation (NASDAQ CCMP) opened at $92.89 on Thursday. The firm has a market cap of $2,343.49, a P/E ratio of 25.96 and a beta of 1.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.04 and a quick ratio of 5.25. Cabot Microelectronics Corporation has a 12 month low of $60.39 and a 12 month high of $102.92.
Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.20. The firm had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. Cabot Microelectronics had a net margin of 17.10% and a return on equity of 16.27%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. equities research analysts expect that Cabot Microelectronics Corporation will post 4.02 earnings per share for the current year.
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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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