Cabot Microelectronics Target of Unusually High Options Trading (CCMP)

Cabot Microelectronics Co. (NASDAQ:CCMP) was the target of unusually large options trading on Tuesday. Traders acquired 499 put options on the stock. This represents an increase of 898% compared to the average daily volume of 50 put options.

In other news, Director Richard Hill sold 15,638 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $94.58, for a total transaction of $1,479,042.04. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $1,428,536.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Bernstein H. Carol Eckstein sold 905 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $91.94, for a total value of $83,205.70. Following the transaction, the vice president now owns 54,150 shares of the company’s stock, valued at $4,978,551. The disclosure for this sale can be found here. Insiders sold a total of 73,699 shares of company stock valued at $7,111,751 over the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CCMP. Riverhead Capital Management LLC increased its stake in Cabot Microelectronics by 88.8% in the second quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 799 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Cabot Microelectronics by 17.0% during the second quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 324 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Cabot Microelectronics by 87.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,246 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 1,048 shares during the period. Advisor Group Inc. increased its stake in shares of Cabot Microelectronics by 4.5% during the second quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock valued at $172,000 after buying an additional 100 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Cabot Microelectronics by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock valued at $204,000 after buying an additional 415 shares during the period. Institutional investors own 93.08% of the company’s stock.

Shares of Cabot Microelectronics (CCMP) opened at $97.31 on Friday. Cabot Microelectronics has a twelve month low of $62.57 and a twelve month high of $102.92. The firm has a market capitalization of $2,444.66, a price-to-earnings ratio of 28.71 and a beta of 1.43. The company has a current ratio of 6.04, a quick ratio of 5.25 and a debt-to-equity ratio of 0.22.

Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.20. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. The company had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. During the same quarter in the prior year, the firm posted $0.91 EPS. Cabot Microelectronics’s quarterly revenue was up 11.5% compared to the same quarter last year. equities analysts forecast that Cabot Microelectronics will post 4.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.80 annualized dividend and a yield of 0.82%. Cabot Microelectronics’s payout ratio is presently 23.60%.

A number of research firms have recently commented on CCMP. BidaskClub downgraded Cabot Microelectronics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Loop Capital began coverage on Cabot Microelectronics in a research report on Thursday, September 28th. They set a “buy” rating and a $94.00 target price for the company. Zacks Investment Research upgraded Cabot Microelectronics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price on shares of Cabot Microelectronics in a research report on Tuesday, September 19th. Finally, Citigroup increased their target price on Cabot Microelectronics from $80.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $99.75.

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About Cabot Microelectronics

Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.

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