Optimum Investment Advisors Sells 625 Shares of Cabot Microelectronics Co. (NASDAQ:CCMP)

Optimum Investment Advisors decreased its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 68.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 290 shares of the semiconductor company’s stock after selling 625 shares during the quarter. Optimum Investment Advisors’ holdings in Cabot Microelectronics were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Benson Investment Management Company Inc. acquired a new position in shares of Cabot Microelectronics in the 3rd quarter worth approximately $2,687,000. Ferguson Wellman Capital Management Inc. bought a new stake in Cabot Microelectronics during the 3rd quarter worth approximately $380,000. State of Alaska Department of Revenue grew its position in Cabot Microelectronics by 126.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 22,390 shares of the semiconductor company’s stock worth $3,161,000 after acquiring an additional 12,499 shares during the last quarter. Macquarie Group Ltd. grew its position in Cabot Microelectronics by 18.9% during the 2nd quarter. Macquarie Group Ltd. now owns 17,007 shares of the semiconductor company’s stock worth $1,872,000 after acquiring an additional 2,698 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in Cabot Microelectronics by 6.8% during the 2nd quarter. Hancock Whitney Corp now owns 6,100 shares of the semiconductor company’s stock worth $671,000 after acquiring an additional 388 shares during the last quarter. 99.50% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Barbara A. Klein sold 5,196 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $123.38, for a total transaction of $641,082.48. Following the completion of the sale, the director now owns 34,808 shares in the company, valued at $4,294,611.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David H. Li sold 27,425 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $114.28, for a total value of $3,134,129.00. Following the sale, the insider now owns 78,683 shares of the company’s stock, valued at approximately $8,991,893.24. The disclosure for this sale can be found here. Insiders sold a total of 35,758 shares of company stock worth $4,133,175 in the last three months. Company insiders own 2.20% of the company’s stock.

A number of research firms recently commented on CCMP. BidaskClub upgraded Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seaport Global Securities restated a “buy” rating on shares of Cabot Microelectronics in a research report on Wednesday, August 7th. Buckingham Research increased their price target on Cabot Microelectronics from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Goldman Sachs Group began coverage on Cabot Microelectronics in a research report on Monday, July 8th. They set a “buy” rating and a $148.00 price target on the stock. Finally, Zacks Investment Research upgraded Cabot Microelectronics from a “strong sell” rating to a “hold” rating and set a $157.00 price target on the stock in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Cabot Microelectronics has an average rating of “Buy” and an average target price of $140.60.

Shares of CCMP opened at $146.13 on Monday. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 27.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.12 and a current ratio of 3.06. The business’s fifty day moving average price is $137.08 and its two-hundred day moving average price is $119.97. Cabot Microelectronics Co. has a 52 week low of $82.24 and a 52 week high of $148.12.

Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data 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 business had revenue of $271.88 million for the quarter, compared to analyst estimates of $266.80 million. Cabot Microelectronics had a return on equity of 21.77% and a net margin of 11.76%. As a group, research analysts forecast that Cabot Microelectronics Co. will post 6.72 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 9th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, October 8th. Cabot Microelectronics’s dividend payout ratio is 32.18%.

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.

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

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