David H. Li Sells 10,425 Shares of Cabot Microelectronics Corporation (CCMP) Stock
Cabot Microelectronics Corporation (NASDAQ:CCMP) insider David H. Li sold 10,425 shares of Cabot Microelectronics Corporation stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $98.48, for a total value of $1,026,654.00. Following the sale, the insider now owns 83,268 shares of the company’s stock, valued at approximately $8,200,232.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Cabot Microelectronics Corporation (NASDAQ CCMP) opened at $102.73 on Wednesday. The firm has a market capitalization of $2,529.35, a P/E ratio of 28.02 and a beta of 1.43. Cabot Microelectronics Corporation has a 12-month low of $57.97 and a 12-month high of $102.84. 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 (NASDAQ:CCMP) last released its earnings results on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.20. The company had revenue of $136.80 million during the quarter, compared to the consensus estimate of $132.18 million. Cabot Microelectronics Corporation had a return on equity of 16.27% and a net margin of 17.10%. Cabot Microelectronics Corporation’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. analysts expect that Cabot Microelectronics Corporation will post 4.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Monday, September 25th were given 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 0.78%. Cabot Microelectronics Corporation’s payout ratio is 23.60%.
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A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Cabot Microelectronics Corporation from a “hold” rating to a “strong-buy” rating and set a $112.00 price target for the company in a research report on Tuesday, November 7th. Loop Capital boosted their target price on Cabot Microelectronics Corporation from $94.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Citigroup Inc. boosted their target price on Cabot Microelectronics Corporation from $80.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of Cabot Microelectronics Corporation in a research report on Tuesday, September 19th. Finally, Seaport Global Securities began coverage on Cabot Microelectronics Corporation in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $99.75.
Institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC increased its stake in Cabot Microelectronics Corporation by 88.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 799 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Cabot Microelectronics Corporation by 87.5% in the 3rd 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 during the period. Ameritas Investment Partners Inc. increased its stake in Cabot Microelectronics Corporation by 17.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 324 shares during the period. Advisor Group Inc. increased its stake in Cabot Microelectronics Corporation by 4.5% in the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock worth $172,000 after purchasing an additional 100 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Cabot Microelectronics Corporation by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 415 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.
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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