Renaissance Technologies LLC lowered its position in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,258,809 shares of the semiconductor company’s stock after selling 4,300 shares during the period. Renaissance Technologies LLC owned about 4.93% of Cabot Microelectronics worth $129,871,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Cabot Microelectronics by 20.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,278 shares of the semiconductor company’s stock valued at $891,000 after buying an additional 1,414 shares during the period. Chicago Equity Partners LLC purchased a new stake in Cabot Microelectronics during the 2nd quarter valued at $316,000. Point72 Asset Management L.P. purchased a new stake in Cabot Microelectronics during the 2nd quarter valued at $1,560,000. OLD National Bancorp IN bought a new position in Cabot Microelectronics in the 3rd quarter worth $266,000. Finally, Bank of Montreal Can raised its holdings in Cabot Microelectronics by 49.8% in the 2nd quarter. Bank of Montreal Can now owns 5,471 shares of the semiconductor company’s stock worth $587,000 after purchasing an additional 1,820 shares in the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ CCMP opened at $96.66 on Friday. Cabot Microelectronics Co. has a 12 month low of $89.19 and a 12 month high of $123.76. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 19.45 and a beta of 1.27.
Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings data on Wednesday, October 24th. The semiconductor company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.14. Cabot Microelectronics had a net margin of 18.64% and a return on equity of 21.59%. The business had revenue of $156.70 million during the quarter, compared to analyst estimates of $155.65 million. During the same period in the prior year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, sell-side analysts predict that Cabot Microelectronics Co. will post 6.9 earnings per share for the current fiscal year.
Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Buckingham Research assumed coverage on shares of Cabot Microelectronics in a report on Thursday, November 29th. They issued a “buy” rating and a $130.00 price objective for the company. BidaskClub lowered shares of Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 17th. Loop Capital set a $117.00 price objective on shares of Cabot Microelectronics and gave the stock a “buy” rating in a report on Monday, August 20th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Cabot Microelectronics presently has a consensus rating of “Buy” and an average target price of $120.80.
In other Cabot Microelectronics news, Director Barbara A. Klein sold 5,635 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $102.68, for a total value of $578,601.80. Following the completion of the transaction, the director now directly owns 33,830 shares in the company, valued at approximately $3,473,664.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by corporate insiders.
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About Cabot Microelectronics
Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in chemical mechanical planarization (CMP) process. It provides CMP slurries, which are liquid solutions composed of high-purity deionized water, proprietary chemical additives, and engineered abrasives that chemically and mechanically interact with the surface material of the IC device at an atomic level; and CMP pads that are engineered polymeric materials designed to distribute and transport the slurry to the surface of the wafer and distribute it evenly across the wafer.
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