GSA Capital Partners LLP Acquires 1,101 Shares of Cabot Microelectronics Co. (CCMP)
GSA Capital Partners LLP grew its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,138 shares of the semiconductor company’s stock after acquiring an additional 1,101 shares during the period. GSA Capital Partners LLP’s holdings in Cabot Microelectronics were worth $730,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Neuberger Berman Group LLC purchased a new stake in shares of Cabot Microelectronics in the second quarter worth $36,933,000. BlackRock Inc. increased its stake in shares of Cabot Microelectronics by 6.5% in the second quarter. BlackRock Inc. now owns 3,146,531 shares of the semiconductor company’s stock worth $232,307,000 after purchasing an additional 193,272 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cabot Microelectronics by 7.3% in the second quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock worth $173,886,000 after purchasing an additional 160,668 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Cabot Microelectronics by 33.9% in the second quarter. Renaissance Technologies LLC now owns 573,109 shares of the semiconductor company’s stock worth $42,313,000 after purchasing an additional 145,109 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Cabot Microelectronics in the second quarter worth $9,264,000. Institutional investors and hedge funds own 93.08% of the company’s stock.
In related news, VP Lisa A. Polezoes sold 5,745 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $102.08, for a total transaction of $586,449.60. Following the completion of the transaction, the vice president now directly owns 9,694 shares of the company’s stock, valued at $989,563.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Hill sold 15,638 shares of the firm’s 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 directly owns 15,104 shares of the company’s stock, valued at $1,428,536.32. The disclosure for this sale can be found here. Insiders have sold 73,699 shares of company stock valued at $7,111,751 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.
Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results 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 company had revenue of $136.80 million during the quarter, compared to analysts’ expectations of $132.18 million. Cabot Microelectronics had a net margin of 17.10% and a return on equity of 16.27%. Cabot Microelectronics’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. equities analysts predict that Cabot Microelectronics Co. will post 4.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.80 annualized dividend and a yield of 0.85%. Cabot Microelectronics’s payout ratio is 23.67%.
A number of brokerages have recently issued reports on CCMP. BidaskClub cut shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective for the company in a research note on Tuesday, November 7th. Loop Capital increased their price objective on shares of Cabot Microelectronics from $94.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Citigroup increased their price objective on shares of Cabot Microelectronics from $80.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Cabot Microelectronics in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $99.75.
Cabot Microelectronics 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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