Envestnet Asset Management Inc. Has $680,000 Position in Cabot Microelectronics Co. (CCMP)

Envestnet Asset Management Inc. decreased its position in Cabot Microelectronics Co. (NASDAQ:CCMP) by 27.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,520 shares of the semiconductor company’s stock after selling 3,284 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Cabot Microelectronics were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CCMP. Neuberger Berman Group LLC acquired a new position in Cabot Microelectronics in the 2nd quarter valued at about $36,933,000. BlackRock Inc. raised its stake in Cabot Microelectronics by 6.5% in the 2nd quarter. BlackRock Inc. now owns 3,146,531 shares of the semiconductor company’s stock valued at $232,307,000 after purchasing an additional 193,272 shares during the last quarter. Vanguard Group Inc. raised its stake in Cabot Microelectronics by 7.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock valued at $173,886,000 after purchasing an additional 160,668 shares during the last quarter. Renaissance Technologies LLC raised its stake in Cabot Microelectronics by 33.9% in the 2nd quarter. Renaissance Technologies LLC now owns 573,109 shares of the semiconductor company’s stock valued at $42,313,000 after purchasing an additional 145,109 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in Cabot Microelectronics in the 2nd quarter valued at about $9,264,000. 93.08% of the stock is owned by hedge funds and other institutional investors.

Cabot Microelectronics Co. (NASDAQ:CCMP) opened at $94.70 on Friday. Cabot Microelectronics Co. has a one year low of $62.28 and a one year high of $102.92. The company has a current ratio of 6.04, a quick ratio of 5.25 and a debt-to-equity ratio of 0.22. The company has a market cap of $2,368.34, a PE ratio of 26.24 and a beta of 1.42.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics had a net margin of 17.10% and a return on equity of 16.27%. The company had revenue of $136.80 million during the quarter, compared to the consensus estimate of $132.18 million. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. sell-side analysts forecast that Cabot Microelectronics Co. will post 4.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, December 21st. Cabot Microelectronics’s dividend payout ratio is currently 23.60%.

In other news, insider William S. Johnson sold 17,594 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $96.38, for a total transaction of $1,695,709.72. Following the completion of the sale, the insider now owns 100,699 shares in the company, valued at approximately $9,705,369.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yumiko Damashek sold 2,925 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $95.13, for a total value of $278,255.25. Following the sale, the vice president now owns 31,670 shares of the company’s stock, valued at approximately $3,012,767.10. The disclosure for this sale can be found here. Insiders have sold a total of 73,699 shares of company stock valued at $7,111,751 in the last quarter. Company insiders own 5.50% of the company’s stock.

A number of research analysts have recently commented on CCMP shares. Loop Capital upped their price objective on shares of Cabot Microelectronics from $94.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Cabot Microelectronics in a research note on Tuesday, September 19th. Seaport Global Securities started coverage on shares of Cabot Microelectronics in a research note on Wednesday, September 6th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, BidaskClub downgraded shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Cabot Microelectronics has a consensus rating of “Buy” and an average price target of $99.75.

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About Cabot Microelectronics

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.

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

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