Today’s Stock On Watch: Is Cabot Microelectronics Corporation a Buy? The Stock Reaches 52-Week High Today

Today's Stock On Watch: Is Cabot Microelectronics Corporation a Buy? The Stock Reaches 52 Week High Today

The stock of Cabot Microelectronics Corporation (NASDAQ:CCMP) hit a new 52-week high and has $77.67 target or 31.00% above today’s $59.29 share price. The 8 months bullish chart indicates low risk for the $1.46B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $77.67 price target is reached, the company will be worth $452.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 61,329 shares traded hands. Cabot Microelectronics Corporation (NASDAQ:CCMP) has risen 40.51% since April 15, 2016 and is uptrending. It has outperformed by 35.89% the S&P500.

According to Zacks Investment Research, “Cabot Microelectronics Corp. is a leading supplier of slurries used in chemical mechanical planarization, a polishing process used in the manufacturing of integrated circuit devices. Chemical mechanical planarization is an important part of the integrated circuit device manufacturing process because it helps manufacturers make smaller, faster and more complex integrated circuit devices. Chemical mechanical planarization slurries are liquids containing abrasives and chemicals that facilitate and enhance the mechanical planarization polishing process.”

Insitutional Activity: The institutional sentiment decreased to 0.72 in 2016 Q2. Its down 0.01, from 0.73 in 2016Q1. The ratio turned negative, as 21 funds sold all Cabot Microelectronics Corporation shares owned while 55 reduced positions. 16 funds bought stakes while 39 increased positions. They now own 21.40 million shares or 3.29% less from 22.13 million shares in 2016Q1.
Perkins Inv Ltd Liability Com owns 267,009 shares or 0.17% of their US portfolio. Strs Ohio holds 0% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 13,200 shares. Texas Permanent School Fund accumulated 18,088 shares or 0.01% of the stock. Gemmer Asset Ltd holds 73 shares or 0% of its portfolio. Ny State Common Retirement Fund holds 0.01% or 239,149 shares in its portfolio. Jpmorgan Chase accumulated 0.01% or 937,118 shares. Capstone Asset Mgmt Company last reported 7,466 shares in the company. The Kentucky-based Teachers Retirement Systems Of The State Of Kentucky has invested 0% in Cabot Microelectronics Corporation (NASDAQ:CCMP). Victory Mngmt has 0% invested in the company for 2,580 shares. Loring Wolcott And Coolidge Fiduciary Advsr Limited Liability Partnership Ma holds 0.01% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 9,884 shares. Gru Inc holds 0% or 17,550 shares in its portfolio. Glenmede Co Na, a Pennsylvania-based fund reported 2,191 shares. Vanguard Group Inc has 0% invested in the company for 1.86 million shares. Moreover, Wells Fargo Company Mn has 0.01% invested in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 328,645 shares. Natl Bank Of Mellon Corporation accumulated 0% or 374,913 shares.

Insider Transactions: Since June 14, 2016, the stock had 0 insider buys, and 22 insider sales for $23.73 million net activity. 4,183 shares with value of $210,545 were sold by Woodland Daniel D. on Tuesday, August 9. JOHNSON WILLIAM S also sold $2.00M worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) on Monday, August 1. $556,376 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) was sold by PIKE DANIEL J on Tuesday, August 9. Li David H also sold $1.64M worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) shares. Another trade for 5,000 shares valued at $253,941 was made by ROMAN THOMAS S on Monday, August 1. 120,051 shares with value of $6.05M were sold by NOGLOWS WILLIAM P on Monday, August 1. Polezoes Lisa A sold $122,627 worth of stock or 2,834 shares.

More news for Cabot Microelectronics Corporation (NASDAQ:CCMP) were recently published by: Globenewswire.com, which released: “Cabot Microelectronics Corporation and Konfoong Materials International Co …” on November 07, 2016. Seekingalpha.com‘s article titled: “Cabot Microelectronics Corp. (CCMP) CEO David Li on Q3 2016 Results – Earnings …” and published on July 28, 2016 is yet another important article.

CCMP Company Profile

Cabot Microelectronics Corporation, incorporated on October 6, 1999, 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 Firm is engaged in the development, manufacture and sale of CMP consumables. The Firm develops, produces and sells CMP slurries for polishing conducting and insulating materials used in IC devices, and also for polishing the disk substrates and magnetic heads used in hard disk drives. It also develops, makes and sells CMP polishing pads, which are used in conjunction with slurries in the CMP process. The Firm also pursues other surface modification applications through its engineered surface finishes (ESF) business.

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