Cabot Microelectronics Corp (NASDAQ:CCMP) Move as Institutional Investors’ Sentiment Up

May 17, 2018 - By Alfred Lee

Cabot Microelectronics Corporation (NASDAQ:CCMP) Logo

Sentiment for Cabot Microelectronics Corp (NASDAQ:CCMP)

Cabot Microelectronics Corp (NASDAQ:CCMP) institutional sentiment increased to 1.12 in 2017 Q4. Its up 0.19, from 0.93 in 2017Q3. The ratio has increased, as 103 hedge funds started new and increased equity positions, while 92 sold and decreased stock positions in Cabot Microelectronics Corp. The hedge funds in our partner’s database now hold: 23.39 million shares, down from 23.49 million shares in 2017Q3. Also, the number of hedge funds holding Cabot Microelectronics Corp in their top 10 equity positions was flat from 0 to 0 for the same number . Sold All: 13 Reduced: 79 Increased: 69 New Position: 34.

Cabot Microelectronics Corporation, together with its subsidiaries, develops, makes, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit devices in the semiconductor industry in a process called chemical mechanical planarization (CMP). The company has market cap of $2.88 billion. The CMP technology is a polishing process used by IC device manufacturers to planarize or flatten the multiple layers of material that are deposited upon silicon wafers. It has a 47.31 P/E ratio. The firm offers 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.

The stock decreased 0.10% or $0.11 during the last trading session, reaching $114.01. About 1,023 shares traded. Cabot Microelectronics Corporation (NASDAQ:CCMP) has risen 44.35% since May 17, 2017 and is uptrending. It has outperformed by 32.80% the S&P500.

Analysts await Cabot Microelectronics Corporation (NASDAQ:CCMP) to report earnings on July, 26. They expect $1.21 earnings per share, up 49.38 % or $0.40 from last year’s $0.81 per share. CCMP’s profit will be $30.51 million for 23.56 P/E if the $1.21 EPS becomes a reality. After $1.19 actual earnings per share reported by Cabot Microelectronics Corporation for the previous quarter, Wall Street now forecasts 1.68 % EPS growth.

Ranger Investment Management L.P. holds 1.44% of its portfolio in Cabot Microelectronics Corporation for 208,726 shares. Snyder Capital Management L P owns 283,981 shares or 1.33% of their US portfolio. Moreover, Earnest Partners Llc has 1.11% invested in the company for 1.24 million shares. The Georgia-based Narwhal Capital Management has invested 0.83% in the stock. Morgan Dempsey Capital Management Llc, a Wisconsin-based fund reported 22,172 shares.

Since January 1, 0001, it had 0 insider purchases, and 8 sales for $7.56 million activity.

Cabot Microelectronics Corporation (NASDAQ:CCMP) Ratings Coverage

Ratings analysis reveals 100% of Cabot Microelec’s analysts are positive. Out of 4 Wall Street analysts rating Cabot Microelec, 4 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $112.0 while the high is $120.0. The stock’s average target of $114.67 is 0.58% above today’s ($114.01) share price. CCMP was included in 4 notes of analysts from January 25, 2018. The rating was maintained by Needham with “Buy” on Thursday, January 25. The firm has “Buy” rating by Seaport Global given on Monday, January 29. The stock has “Buy” rating by Loop Capital on Friday, January 26.

More recent Cabot Microelectronics Corporation (NASDAQ:CCMP) news were published by: Benzinga.com which released: “Earnings Preview For Cabot Microelectronics” on April 25, 2018. Also Globenewswire.com published the news titled: “Cabot Microelectronics Corporation to Present at Barclays Electronic Chemicals Conference” on May 09, 2018. Nasdaq.com‘s news article titled: “Cabot Microelectronics Corporation Reports Record Revenue, Record Net Income, and Record EPS for Second …” with publication date: April 26, 2018 was also an interesting one.

Cabot Microelectronics Corporation (NASDAQ:CCMP) Institutional Positions Chart

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