Legal & General Group Plc Raises Holdings in Cabot Microelectronics Corporation (CCMP)

Legal & General Group Plc lifted its holdings in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 9.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 48,643 shares of the semiconductor company’s stock after acquiring an additional 4,186 shares during the period. Legal & General Group Plc owned approximately 0.19% of Cabot Microelectronics Corporation worth $3,592,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Mason Street Advisors LLC lifted its holdings in shares of Cabot Microelectronics Corporation by 10.6% during the 1st quarter. Mason Street Advisors LLC now owns 5,853 shares of the semiconductor company’s stock worth $448,000 after acquiring an additional 559 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Cabot Microelectronics Corporation by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 2,194,556 shares of the semiconductor company’s stock worth $168,125,000 after acquiring an additional 154,495 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Cabot Microelectronics Corporation by 15.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,587 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 486 shares during the period. Arizona State Retirement System lifted its holdings in shares of Cabot Microelectronics Corporation by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock worth $971,000 after acquiring an additional 100 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in shares of Cabot Microelectronics Corporation during the 1st quarter worth about $4,444,000. 93.85% of the stock is owned by institutional investors.

Cabot Microelectronics Corporation (CCMP) opened at 73.53 on Friday. The stock’s 50 day moving average is $71.22 and its 200-day moving average is $74.01. Cabot Microelectronics Corporation has a 12-month low of $48.94 and a 12-month high of $81.85. The company has a market capitalization of $1.86 billion, a P/E ratio of 22.94 and a beta of 1.46.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.03). The business had revenue of $128.00 million during the quarter, compared to the consensus estimate of $122.17 million. Cabot Microelectronics Corporation had a net margin of 16.41% and a return on equity of 16.08%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. On average, equities analysts predict that Cabot Microelectronics Corporation will post $3.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, September 25th will be given a $0.20 dividend. The ex-dividend date is Friday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.09%. Cabot Microelectronics Corporation’s payout ratio is presently 25.08%.

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A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. BidaskClub downgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Seaport Global Securities assumed coverage on shares of Cabot Microelectronics Corporation in a report on Wednesday, September 6th. They set a “buy” rating for the company. Finally, Needham & Company LLC raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $80.00.

In other news, VP Daniel D. Woodland sold 432 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $74.90, for a total value of $32,356.80. Following the completion of the sale, the vice president now owns 17,588 shares of the company’s stock, valued at $1,317,341.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William S. Johnson sold 11,806 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $73.77, for a total transaction of $870,928.62. Following the completion of the sale, the insider now directly owns 94,911 shares of the company’s stock, valued at approximately $7,001,584.47. The disclosure for this sale can be found here. In the last three months, insiders sold 24,740 shares of company stock valued at $1,799,554. 5.50% of the stock is currently owned by company insiders.

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

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