Wells Fargo & Company MN lessened its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 35.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,968 shares of the semiconductor company’s stock after selling 117,411 shares during the quarter. Wells Fargo & Company MN owned approximately 0.83% of Cabot Microelectronics worth $16,782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Neuberger Berman Group LLC acquired a new position in shares of Cabot Microelectronics during the 2nd quarter valued at about $36,933,000. BlackRock Inc. boosted its position in shares of Cabot Microelectronics by 6.5% during the 2nd 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 last quarter. Vanguard Group Inc. boosted its position in shares of Cabot Microelectronics by 7.3% during the 2nd 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 last quarter. Renaissance Technologies LLC boosted its position in shares of Cabot Microelectronics by 33.9% during the 2nd 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 last quarter. Finally, Schroder Investment Management Group acquired a new position in shares of Cabot Microelectronics during the 2nd quarter valued at about $9,264,000. 93.08% of the stock is currently owned by institutional investors.

Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) opened at $94.62 on Thursday. The stock has a market cap of $2,399.78, a PE ratio of 26.58 and a beta of 1.42. Cabot Microelectronics Co. has a fifty-two week low of $62.28 and a fifty-two week high of $102.92. 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 (NASDAQ:CCMP) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share (EPS) for the quarter, beating the 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%. Cabot Microelectronics’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. equities analysts predict that Cabot Microelectronics Co. will post 4.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 22nd will be issued a $0.20 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.80 annualized dividend and a yield of 0.85%. Cabot Microelectronics’s dividend payout ratio (DPR) is currently 23.60%.

CCMP has been the topic of several recent research reports. Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $112.00 price target on the stock in a research report on Tuesday, November 7th. Loop Capital boosted their price target on shares of Cabot Microelectronics from $94.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Seaport Global Securities initiated coverage on shares of Cabot Microelectronics in a research report on Wednesday, September 6th. They set a “buy” rating on the stock. Citigroup boosted their price target on shares of Cabot Microelectronics from $80.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $85.00 price target on shares of Cabot Microelectronics in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $99.75.

In related news, Director Richard Hill sold 15,638 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $94.58, for a total value of $1,479,042.04. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $1,428,536.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Yumiko Damashek sold 817 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $97.58, for a total transaction of $79,722.86. Following the sale, the vice president now owns 30,120 shares in the company, valued at $2,939,109.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,699 shares of company stock worth $7,111,751. 5.50% of the stock is owned by 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.

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

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