Timpani Capital Management LLC boosted its stake in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 139.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,113 shares of the semiconductor company’s stock after acquiring an additional 9,382 shares during the period. Timpani Capital Management LLC owned 0.06% of Cabot Microelectronics worth $1,804,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Enlightenment Research LLC purchased a new stake in Cabot Microelectronics during the fourth quarter worth $29,000. Huntington National Bank purchased a new position in Cabot Microelectronics during the fourth quarter valued at $30,000. Bremer Bank National Association purchased a new position in Cabot Microelectronics during the first quarter valued at $32,000. Private Capital Group LLC lifted its holdings in Cabot Microelectronics by 1,627.3% during the fourth quarter. Private Capital Group LLC now owns 380 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 358 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in Cabot Microelectronics by 250.0% during the fourth quarter. IFP Advisors Inc now owns 427 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 305 shares in the last quarter. 99.08% of the stock is owned by hedge funds and other institutional investors.
CCMP has been the topic of several research reports. BidaskClub raised shares of Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Zacks Investment Research lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $124.33.
Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.06). The firm had revenue of $265.39 million during the quarter, compared to analysts’ expectations of $273.30 million. Cabot Microelectronics had a return on equity of 20.79% and a net margin of 15.61%. On average, equities research analysts anticipate that Cabot Microelectronics Co. will post 6.78 EPS for the current fiscal year.
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Cabot Microelectronics 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.
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