Cabot Microelectronics Co. (NASDAQ:CCMP) Shares Bought by Earnest Partners LLC

Earnest Partners LLC lifted its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 1.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,202,624 shares of the semiconductor company’s stock after purchasing an additional 16,306 shares during the quarter. Cabot Microelectronics comprises about 1.2% of Earnest Partners LLC’s holdings, making the stock its 15th biggest holding. Earnest Partners LLC’s holdings in Cabot Microelectronics were worth $132,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of Cabot Microelectronics by 2.4% during the first quarter. BlackRock Inc. now owns 4,271,276 shares of the semiconductor company’s stock worth $478,210,000 after buying an additional 100,375 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Cabot Microelectronics by 2.5% during the second quarter. JPMorgan Chase & Co. now owns 968,865 shares of the semiconductor company’s stock worth $108,144,000 after buying an additional 23,883 shares during the period. Wells Fargo & Company MN increased its stake in shares of Cabot Microelectronics by 10.5% during the second quarter. Wells Fargo & Company MN now owns 777,602 shares of the semiconductor company’s stock worth $85,598,000 after buying an additional 73,708 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cabot Microelectronics by 12.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 760,383 shares of the semiconductor company’s stock worth $72,502,000 after buying an additional 81,642 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Cabot Microelectronics by 18.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 672,850 shares of the semiconductor company’s stock worth $74,068,000 after buying an additional 105,225 shares during the period. 99.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cabot Microelectronics stock opened at $139.06 on Friday. The firm has a market capitalization of $3.90 billion, a P/E ratio of 26.64 and a beta of 1.37. Cabot Microelectronics Co. has a 52 week low of $82.24 and a 52 week high of $139.49. The company has a quick ratio of 2.12, a current ratio of 3.06 and a debt-to-equity ratio of 0.91. The firm’s 50 day moving average is $121.79 and its two-hundred day moving average is $114.67.

Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.01). The company had revenue of $271.88 million during the quarter, compared to analysts’ expectations of $266.80 million. Cabot Microelectronics had a net margin of 11.76% and a return on equity of 21.77%. As a group, research analysts expect that Cabot Microelectronics Co. will post 6.68 earnings per share for the current fiscal year.

A number of research firms recently weighed in on CCMP. Seaport Global Securities restated a “buy” rating on shares of Cabot Microelectronics in a research note on Wednesday, August 7th. Goldman Sachs Group began coverage on shares of Cabot Microelectronics in a research note on Monday, July 8th. They set a “buy” rating and a $148.00 target price on the stock. CL King began coverage on shares of Cabot Microelectronics in a research note on Monday, July 8th. They set a “buy” rating and a $125.00 target price on the stock. BidaskClub upgraded shares of Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Finally, Buckingham Research upped their target price on shares of Cabot Microelectronics from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $133.20.

In other Cabot Microelectronics news, VP Daniel D. Woodland sold 3,137 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $114.11, for a total value of $357,963.07. Following the transaction, the vice president now directly owns 15,422 shares in the company, valued at $1,759,804.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David H. Li sold 27,425 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $114.28, for a total transaction of $3,134,129.00. Following the completion of the transaction, the insider now owns 78,683 shares in the company, valued at $8,991,893.24. The disclosure for this sale can be found here. Insiders sold 35,758 shares of company stock worth $4,133,175 over the last quarter. 2.20% of the stock is currently owned by insiders.

Cabot Microelectronics Company Profile

Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.

Further Reading: Sell-Side Analysts

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

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