Rothschild & Co. Asset Management US Inc. Has $5.68 Million Position in Cabot Microelectronics Co. (CCMP)

Rothschild & Co. Asset Management US Inc. boosted its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 52.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,036 shares of the semiconductor company’s stock after buying an additional 18,857 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in Cabot Microelectronics were worth $5,678,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Cabot Microelectronics by 20.6% in the second quarter. Envestnet Asset Management Inc. now owns 8,278 shares of the semiconductor company’s stock valued at $891,000 after buying an additional 1,414 shares during the period. Chicago Equity Partners LLC acquired a new position in Cabot Microelectronics in the second quarter valued at approximately $316,000. Point72 Asset Management L.P. acquired a new position in Cabot Microelectronics in the second quarter valued at approximately $1,560,000. Bank of Montreal Can lifted its holdings in Cabot Microelectronics by 49.8% in the second quarter. Bank of Montreal Can now owns 5,471 shares of the semiconductor company’s stock valued at $587,000 after buying an additional 1,820 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Cabot Microelectronics by 495.4% in 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 period.

Shares of NASDAQ:CCMP opened at $104.47 on Friday. Cabot Microelectronics Co. has a 52 week low of $89.19 and a 52 week high of $123.76. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 20.01 and a beta of 1.27.

Cabot Microelectronics (NASDAQ:CCMP) last issued its earnings results on Wednesday, October 24th. The semiconductor company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.14. Cabot Microelectronics had a net margin of 18.64% and a return on equity of 21.59%. The firm had revenue of $156.70 million during the quarter, compared to the consensus estimate of $155.65 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, equities research analysts forecast that Cabot Microelectronics Co. will post 6.9 EPS for the current fiscal year.

In other Cabot Microelectronics news, Director Barbara A. Klein sold 5,635 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $102.68, for a total value of $578,601.80. Following the completion of the sale, the director now owns 33,830 shares of the company’s stock, valued at $3,473,664.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by corporate insiders.

CCMP has been the topic of several analyst reports. BidaskClub lowered shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Zacks Investment Research lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Loop Capital set a $117.00 price objective on shares of Cabot Microelectronics and gave the company a “buy” rating in a report on Monday, August 20th. They noted that the move was a valuation call. ValuEngine downgraded shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Buckingham Research started coverage on shares of Cabot Microelectronics in a research note on Thursday. They issued a “buy” rating and a $130.00 target price for the company. Two 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’s stock. Cabot Microelectronics currently has a consensus rating of “Buy” and an average target price of $120.80.

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About Cabot Microelectronics

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.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

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

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