Insider Selling: Cabot Microelectronics Co. (NASDAQ:CCMP) VP Sells 3,137 Shares of Stock

Cabot Microelectronics Co. (NASDAQ:CCMP) VP Daniel D. Woodland sold 3,137 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $114.11, for a total value of $357,963.07. Following the transaction, the vice president now owns 15,422 shares in the company, valued at $1,759,804.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CCMP traded up $5.36 on Tuesday, reaching $119.44. 111,250 shares of the stock were exchanged, compared to its average volume of 212,094. The firm’s 50-day moving average is $113.80. 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 2.12, a current ratio of 3.06 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 22.88 and a beta of 1.39.

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

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Tuesday, June 25th were given a dividend of $0.42 per share. The ex-dividend date was Monday, June 24th. This represents a $1.68 dividend on an annualized basis and a yield of 1.41%. Cabot Microelectronics’s dividend payout ratio is currently 32.18%.

Several research analysts recently weighed in on CCMP shares. CL King started coverage on Cabot Microelectronics in a research note on Monday, July 8th. They set a “buy” rating and a $125.00 target price on the stock. Goldman Sachs Group started coverage on Cabot Microelectronics in a research note on Monday, July 8th. They set a “buy” rating and a $148.00 target price on the stock. Seaport Global Securities restated a “buy” rating on shares of Cabot Microelectronics in a research note on Wednesday, August 7th. Zacks Investment Research upgraded Cabot Microelectronics from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, BidaskClub downgraded Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $129.20.

Institutional investors and hedge funds have recently modified their holdings of the business. Bremer Bank National Association acquired a new stake in Cabot Microelectronics during the 1st quarter worth about $32,000. Huntington National Bank lifted its holdings in shares of 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 period. Quadrant Capital Group LLC raised its holdings in Cabot Microelectronics by 121.2% in the 1st quarter. Quadrant Capital Group LLC now owns 427 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 234 shares during the period. Private Capital Group LLC raised its holdings in Cabot Microelectronics by 24.7% in the 1st quarter. Private Capital Group LLC now owns 474 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 94 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in Cabot Microelectronics in the 1st quarter worth about $91,000. 98.60% of the stock is owned by institutional investors.

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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