Neuberger Berman Group LLC lowered its stake in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,563,597 shares of the semiconductor company’s stock after selling 68,843 shares during the quarter. Neuberger Berman Group LLC owned about 5.38% of Cabot Microelectronics worth $218,055,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its stake in Cabot Microelectronics by 32.8% during the first quarter. FMR LLC now owns 332,164 shares of the semiconductor company’s stock worth $37,189,000 after buying an additional 82,081 shares in the last quarter. First Trust Advisors LP boosted its stake in Cabot Microelectronics by 138.0% during the first quarter. First Trust Advisors LP now owns 41,913 shares of the semiconductor company’s stock worth $4,693,000 after buying an additional 24,300 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Cabot Microelectronics by 21.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 114,586 shares of the semiconductor company’s stock worth $12,829,000 after buying an additional 19,879 shares in the last quarter. Aperio Group LLC boosted its stake in Cabot Microelectronics by 5.1% during the first quarter. Aperio Group LLC now owns 9,667 shares of the semiconductor company’s stock worth $1,103,000 after buying an additional 471 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Cabot Microelectronics by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 391,100 shares of the semiconductor company’s stock worth $44,639,000 after buying an additional 12,236 shares in the last quarter. 97.14% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CCMP traded up $0.96 on Wednesday, hitting $148.03. 5,148 shares of the stock were exchanged, compared to its average volume of 126,341. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 51.07 and a beta of 1.23. Cabot Microelectronics Co. has a 52 week low of $85.26 and a 52 week high of $174.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.52 and a current ratio of 2.00. The company’s 50-day moving average price is $155.83 and its 200 day moving average price is $135.35.

Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.30. The firm had revenue of $274.73 million during the quarter, compared to analysts’ expectations of $271.90 million. Cabot Microelectronics had a return on equity of 20.99% and a net margin of 7.65%. As a group, equities research analysts predict that Cabot Microelectronics Co. will post 7.19 earnings per share for the current year.

In other news, Director William P. Noglows sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $161.51, for a total value of $1,453,590.00. Following the completion of the sale, the director now directly owns 23,413 shares of the company’s stock, valued at approximately $3,781,433.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Colleen Elizabeth Mumford sold 1,056 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $168.90, for a total value of $178,358.40. Following the completion of the sale, the vice president now directly owns 2,555 shares of the company’s stock, valued at $431,539.50. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

CCMP has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, August 17th. Berenberg Bank initiated coverage on shares of Cabot Microelectronics in a research note on Friday, September 11th. They issued a “hold” rating and a $155.00 target price on the stock. ValuEngine upgraded shares of Cabot Microelectronics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. BidaskClub downgraded shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, Citigroup boosted their target price on shares of Cabot Microelectronics from $140.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $154.25.

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

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