WESPAC Advisors SoCal LLC Lowers Stock Position in Cabot Microelectronics Co. (NASDAQ:CCMP)

WESPAC Advisors SoCal LLC cut its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,025 shares of the semiconductor company’s stock after selling 425 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Cabot Microelectronics were worth $883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Connable Office Inc. grew its position in shares of Cabot Microelectronics by 2.3% during the first quarter. Connable Office Inc. now owns 4,121 shares of the semiconductor company’s stock worth $461,000 after acquiring an additional 91 shares during the last quarter. Private Capital Group LLC grew its position in Cabot Microelectronics by 24.7% in the 1st quarter. Private Capital Group LLC now owns 474 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 94 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Cabot Microelectronics by 1.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,938 shares of the semiconductor company’s stock valued at $1,113,000 after buying an additional 113 shares during the last quarter. State of Alaska Department of Revenue grew its position in Cabot Microelectronics by 1.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,891 shares of the semiconductor company’s stock valued at $1,088,000 after buying an additional 134 shares during the last quarter. Finally, Huntington National Bank grew its position in Cabot Microelectronics by 81.1% in the 2nd quarter. Huntington National Bank now owns 306 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

In other Cabot Microelectronics news, Director Barbara A. Klein sold 3,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 26,104 shares of the company’s stock, valued at $2,826,541.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Cabot Microelectronics stock traded down $0.26 during midday trading on Friday, reaching $115.78. The company’s stock had a trading volume of 270,878 shares, compared to its average volume of 206,587. Cabot Microelectronics Co. has a fifty-two week low of $82.24 and a fifty-two week high of $129.94. The company has a quick ratio of 2.40, a current ratio of 3.06 and a debt-to-equity ratio of 0.91. The company’s 50 day simple moving average is $113.48. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.18 and a beta of 1.39.

Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Wednesday, August 7th. The semiconductor company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.01). Cabot Microelectronics had a net margin of 11.76% and a return on equity of 19.78%. The business had revenue of $271.88 million during the quarter, compared to analyst estimates of $266.80 million. As a group, equities analysts predict that Cabot Microelectronics Co. will post 6.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Tuesday, June 25th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, June 24th. Cabot Microelectronics’s dividend payout ratio (DPR) is currently 32.18%.

A number of equities analysts recently weighed in on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Cabot Microelectronics in a research report on Wednesday. Zacks Investment Research upgraded shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Goldman Sachs Group assumed coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They issued a “buy” rating and a $148.00 price objective on the stock. CL King assumed coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, BidaskClub lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $129.20.

Cabot Microelectronics 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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