Tower Research Capital LLC TRC bought a new stake in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,181 shares of the semiconductor company’s stock, valued at approximately $130,000.
A number of other large investors have also recently added to or reduced their stakes in CCMP. Bremer Bank National Association acquired a new stake in Cabot Microelectronics during the 1st quarter valued at approximately $32,000. Huntington National Bank increased its position in Cabot Microelectronics by 81.1% during the 2nd quarter. Huntington National Bank now owns 306 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 137 shares during the period. Penserra Capital Management LLC acquired a new stake in Cabot Microelectronics during the 1st quarter valued at approximately $91,000. United Capital Financial Advisers LLC acquired a new stake in Cabot Microelectronics during the 2nd quarter valued at approximately $206,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Cabot Microelectronics during the 2nd quarter valued at approximately $220,000. 99.57% of the stock is owned by institutional investors and hedge funds.
In related news, insider David H. Li sold 27,425 shares of Cabot Microelectronics stock in a transaction on Monday, August 12th. The shares were sold at an average price of $114.28, for a total value of $3,134,129.00. Following the completion of the sale, the insider now owns 78,683 shares of the company’s stock, valued at approximately $8,991,893.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Daniel D. Woodland sold 3,137 shares of Cabot Microelectronics stock in a transaction on Monday, August 12th. The shares were sold at an average price of $114.11, for a total transaction of $357,963.07. Following the completion of the sale, the vice president now directly owns 15,422 shares of the company’s stock, valued at approximately $1,759,804.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,758 shares of company stock valued at $4,133,175. Insiders own 2.20% of the company’s stock.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). The company had revenue of $271.88 million for the quarter, compared to analyst estimates of $266.80 million. Cabot Microelectronics had a return on equity of 21.77% and a net margin of 11.76%. As a group, sell-side analysts expect that Cabot Microelectronics Co. will post 6.72 EPS for the current fiscal year.
A number of analysts have weighed in on the stock. CL King assumed coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They set a “buy” rating and a $125.00 target price for the company. Zacks Investment Research downgraded shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Goldman Sachs Group started coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They set a “buy” rating and a $148.00 target price for the company. Buckingham Research raised their price objective on shares of Cabot Microelectronics from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, BidaskClub raised shares of Cabot Microelectronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cabot Microelectronics presently has an average rating of “Buy” and an average target price of $133.20.
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.
Read More: Initial Public Offering (IPO)
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