Cabot Microelectronics Co. (NASDAQ:CCMP) Director William P. Noglows sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $161.51, for a total transaction of $1,453,590.00. Following the completion of the transaction, the director now owns 23,413 shares of the company’s stock, valued at $3,781,433.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of NASDAQ:CCMP traded down $3.74 during trading on Thursday, reaching $157.64. The stock had a trading volume of 4,361 shares, compared to its average volume of 176,052. The firm’s fifty day moving average is $149.11 and its 200 day moving average is $136.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.52 and a current ratio of 2.00. Cabot Microelectronics Co. has a 52 week low of $85.26 and a 52 week high of $174.87. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 55.83 and a beta of 1.27.
Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.30. The company had revenue of $274.73 million for the quarter, compared to analyst estimates of $271.90 million. Cabot Microelectronics had a net margin of 7.65% and a return on equity of 20.99%. On average, research analysts forecast that Cabot Microelectronics Co. will post 7.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, June 24th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.12%. The ex-dividend date was Tuesday, June 23rd. Cabot Microelectronics’s dividend payout ratio is presently 26.19%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its holdings in Cabot Microelectronics by 41.2% in the first quarter. Bessemer Group Inc. now owns 910,822 shares of the semiconductor company’s stock valued at $103,961,000 after acquiring an additional 265,856 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of Cabot Microelectronics during the first quarter worth about $25,722,000. Capital International Investors lifted its holdings in shares of Cabot Microelectronics by 134.0% during the first quarter. Capital International Investors now owns 367,921 shares of the semiconductor company’s stock worth $41,995,000 after purchasing an additional 210,721 shares during the period. Channing Capital Management LLC acquired a new stake in shares of Cabot Microelectronics during the first quarter worth about $21,446,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Cabot Microelectronics by 12.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 772,970 shares of the semiconductor company’s stock worth $88,226,000 after purchasing an additional 84,320 shares during the period. 99.46% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. CL King upped their price target on shares of Cabot Microelectronics from $153.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, July 27th. ValuEngine upgraded shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Citigroup upped their price target on shares of Cabot Microelectronics from $140.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, TheStreet raised shares of Cabot Microelectronics from a “c+” rating to a “b-” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Cabot Microelectronics presently has a consensus rating of “Hold” and an average price target of $154.14.
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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