Renaissance Technologies LLC Acquires 73,200 Shares of Cabot Microelectronics Co. (CCMP)
Renaissance Technologies LLC boosted its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 6.2% during the second quarter, HoldingsChannel.com reports. The firm owned 1,263,109 shares of the semiconductor company’s stock after acquiring an additional 73,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Cabot Microelectronics were worth $135,860,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Captrust Financial Advisors grew its holdings in shares of Cabot Microelectronics by 495.4% during the second quarter. Captrust Financial Advisors now owns 1,030 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 857 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Cabot Microelectronics during the second quarter valued at approximately $116,000. Citigroup Inc. grew its holdings in shares of Cabot Microelectronics by 337.4% during the first quarter. Citigroup Inc. now owns 1,194 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 921 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Cabot Microelectronics during the first quarter valued at approximately $155,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of Cabot Microelectronics during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 95.40% of the company’s stock.
Shares of Cabot Microelectronics stock opened at $108.50 on Friday. The company has a market cap of $2.85 billion, a P/E ratio of 30.48 and a beta of 1.32. Cabot Microelectronics Co. has a twelve month low of $70.55 and a twelve month high of $123.76.
In related news, VP Ananth Naman sold 3,034 shares of the stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $116.32, for a total transaction of $352,914.88. Following the transaction, the vice president now owns 16,803 shares in the company, valued at $1,954,524.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Tuesday, July 31st. BidaskClub cut shares of Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, June 22nd. Loop Capital increased their price target on shares of Cabot Microelectronics to $123.00 and gave the company a “buy” rating in a report on Tuesday, May 15th. Finally, ValuEngine downgraded shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $115.00.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers.
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