Insider Selling: Cabot Microelectronics Co. (NASDAQ:CCMP) Director Sells 3,000 Shares of Stock

Cabot Microelectronics Co. (NASDAQ:CCMP) Director Barbara A. Klein sold 3,000 shares of Cabot Microelectronics stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $108.28, for a total value of $324,840.00. Following the completion of the transaction, the director now directly owns 26,104 shares in the company, valued at $2,826,541.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of CCMP traded down $2.35 during mid-day trading on Wednesday, hitting $106.54. 147,048 shares of the company’s stock traded hands, compared to its average volume of 269,196. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.40 and a current ratio of 3.40. Cabot Microelectronics Co. has a 1 year low of $82.24 and a 1 year high of $129.94. The stock has a market capitalization of $3.10 billion, a PE ratio of 20.41 and a beta of 1.39.

Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.06). Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%. The business had revenue of $265.39 million for the quarter, compared to analysts’ expectations of $273.30 million. Research analysts forecast that Cabot Microelectronics Co. will post 6.78 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of CCMP. Enlightenment Research LLC purchased a new position in shares of Cabot Microelectronics during the fourth quarter valued at approximately $29,000. Bremer Bank National Association purchased a new position in shares of Cabot Microelectronics during the first quarter valued at approximately $32,000. IFP Advisors Inc increased its stake in shares of Cabot Microelectronics by 250.0% during the fourth quarter. IFP Advisors Inc now owns 427 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 305 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Cabot Microelectronics by 121.2% during the first quarter. Quadrant Capital Group LLC now owns 427 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 234 shares during the period. Finally, Rehmann Capital Advisory Group increased its stake in shares of Cabot Microelectronics by 38.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 483 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 133 shares during the period. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on CCMP shares. BidaskClub raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Zacks Investment Research cut Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $124.33.

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About Cabot Microelectronics

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.

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