Insider Selling: Cabot Microelectronics Corporation (CCMP) VP Sells 5,745 Shares of Stock
Cabot Microelectronics Corporation (NASDAQ:CCMP) VP Lisa A. Polezoes sold 5,745 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $102.08, for a total value of $586,449.60. Following the completion of the sale, the vice president now owns 9,694 shares in the company, valued at $989,563.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Cabot Microelectronics Corporation (NASDAQ:CCMP) traded up $2.98 during midday trading on Wednesday, reaching $102.73. The company had a trading volume of 244,100 shares, compared to its average volume of 180,461. The stock has a market cap of $2,529.35, a price-to-earnings ratio of 28.02 and a beta of 1.43. Cabot Microelectronics Corporation has a twelve month low of $57.97 and a twelve 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 announced its earnings results 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. Cabot Microelectronics Corporation had a return on equity of 16.27% and a net margin of 17.10%. 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 firm posted $0.91 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. research analysts anticipate that Cabot Microelectronics Corporation will post 4.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Monday, September 25th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Friday, September 22nd. Cabot Microelectronics Corporation’s dividend payout ratio is presently 23.60%.
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A number of brokerages have recently weighed in on CCMP. Loop Capital upped 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. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Cabot Microelectronics Corporation in a research report on Tuesday, September 19th. Seaport Global Securities began coverage on Cabot Microelectronics Corporation in a research report on Wednesday, September 6th. They set a “buy” rating on the stock. Zacks Investment Research raised Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, BidaskClub lowered Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Cabot Microelectronics Corporation currently has a consensus rating of “Buy” and an average price target of $99.75.
Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in shares of Cabot Microelectronics Corporation by 93.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,559 shares of the semiconductor company’s stock worth $1,324,000 after acquiring an additional 7,996 shares during the period. GSA Capital Partners LLP grew its stake in shares of Cabot Microelectronics Corporation by 13.7% during the 3rd quarter. GSA Capital Partners LLP now owns 9,138 shares of the semiconductor company’s stock worth $730,000 after acquiring an additional 1,101 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Cabot Microelectronics Corporation by 97.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 986,513 shares of the semiconductor company’s stock worth $78,852,000 after acquiring an additional 486,275 shares during the period. California Public Employees Retirement System grew its stake in shares of Cabot Microelectronics Corporation by 1.8% during the 3rd quarter. California Public Employees Retirement System now owns 79,508 shares of the semiconductor company’s stock worth $6,355,000 after acquiring an additional 1,408 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Cabot Microelectronics Corporation during the 3rd quarter worth $480,000. 89.29% of the stock is owned by hedge funds and other institutional investors.
Cabot Microelectronics Corporation 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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