Morgan Dempsey Capital Management LLC Has $1.67 Million Position in Cabot Microelectronics Corporation (NASDAQ:CCMP)

Morgan Dempsey Capital Management LLC decreased its position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,647 shares of the semiconductor company’s stock after selling 579 shares during the period. Morgan Dempsey Capital Management LLC owned about 0.09% of Cabot Microelectronics Corporation worth $1,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strs Ohio boosted its position in shares of Cabot Microelectronics Corporation by 14.2% in the first quarter. Strs Ohio now owns 14,500 shares of the semiconductor company’s stock worth $1,110,000 after buying an additional 1,800 shares in the last quarter. Narwhal Capital Management boosted its position in Cabot Microelectronics Corporation by 15.1% in the first quarter. Narwhal Capital Management now owns 30,085 shares of the semiconductor company’s stock valued at $2,305,000 after buying an additional 3,940 shares during the period. Acadian Asset Management LLC bought a new position in Cabot Microelectronics Corporation during the first quarter valued at $9,999,000. Profund Advisors LLC boosted its position in Cabot Microelectronics Corporation by 1.6% in the first quarter. Profund Advisors LLC now owns 4,473 shares of the semiconductor company’s stock valued at $343,000 after buying an additional 69 shares during the period. Finally, Fisher Asset Management LLC bought a new position in Cabot Microelectronics Corporation during the first quarter valued at $3,122,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Cabot Microelectronics Corporation (CCMP) traded up 0.91% on Friday, hitting $68.86. 289,242 shares of the stock traded hands. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 21.48 and a beta of 1.48. The stock has a 50-day moving average price of $74.28 and a 200 day moving average price of $73.69. Cabot Microelectronics Corporation has a 1-year low of $47.31 and a 1-year high of $81.85.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last posted its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.03. The firm had revenue of $128 million for the quarter, compared to analysts’ expectations of $122.17 million. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. Cabot Microelectronics Corporation’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. On average, analysts anticipate that Cabot Microelectronics Corporation will post $3.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 23rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, June 21st. Cabot Microelectronics Corporation’s dividend payout ratio is 25.08%.

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Several research firms have recently weighed in on CCMP. BidaskClub cut shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Zacks Investment Research cut shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Needham & Company LLC upgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $80.00.

In other news, Director Barbara A. Klein sold 12,502 shares of Cabot Microelectronics Corporation stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.69, for a total transaction of $896,268.38. Following the sale, the director now directly owns 34,561 shares in the company, valued at approximately $2,477,678.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel D. Woodland sold 432 shares of Cabot Microelectronics Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $74.90, for a total value of $32,356.80. Following the sale, the vice president now owns 17,588 shares in the company, valued at $1,317,341.20. The disclosure for this sale can be found here. Insiders have sold a total of 24,740 shares of company stock worth $1,799,554 over the last ninety days. Insiders own 5.50% of the company’s stock.

Cabot Microelectronics Corporation Company Profile

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.

Institutional Ownership by Quarter for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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