Price Action Don’t Lie: After Touching 52-Week High, Is Cabot Microelectronics Corporation’s Near-Term Analysis Positive?

Price Action Don't Lie: After Touching 52 Week High, Is Cabot Microelectronics Corporation's Near Term Analysis Positive?

The stock of Cabot Microelectronics Corporation (NASDAQ:CCMP) hit a new 52-week high and has $66.17 target or 9.00% above today’s $60.71 share price. The 5 months bullish chart indicates low risk for the $1.52 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $66.17 price target is reached, the company will be worth $136.80 million 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 51,354 shares traded hands. Cabot Microelectronics Corporation (NASDAQ:CCMP) has risen 47.93% since April 21, 2016 and is uptrending. It has outperformed by 42.60% the S&P500.

Analysts await Cabot Microelectronics Corporation (NASDAQ:CCMP) to report earnings on January, 26 before the open.

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 increased to 1.33 in 2016 Q2. Its up 0.61, from 0.72 in 2016Q1. The ratio increased, 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.
Panagora Asset Mgmt holds 0% or 2,702 shares in its portfolio. Amer Int Gru owns 17,550 shares or 0% of their US portfolio. Schwab Charles Inv Mngmt owns 134,281 shares or 0.01% of their US portfolio. Price T Rowe Md accumulated 0.01% or 1.12 million shares. Citigroup holds 0% or 17,091 shares in its portfolio. Paradigm Asset Ltd Liability Co holds 0% or 17,500 shares in its portfolio. Moreover, Pinebridge Lp has 0.01% invested in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 2,964 shares. Ls Inv Llc has 0% invested in the company for 825 shares. State Board Of Administration Of Florida Retirement System holds 0% or 5,923 shares in its portfolio. Gru One Trading Lp last reported 0% of its portfolio in the stock. Us National Bank De holds 0% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP) for 23,506 shares. New York State Common Retirement Fund has invested 0.01% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP). Aperio Grp Ltd, a California-based fund reported 5,085 shares. Tiaa Cref Invest Ltd Liability last reported 0% of its portfolio in the stock. Great West Life Assurance Com Can holds 0% or 2,355 shares in its portfolio.

Insider Transactions: Since June 14, 2016, the stock had 0 insider purchases, and 22 sales for $23.73 million net activity. Li David H had sold 32,866 shares worth $1.64 million. PIKE DANIEL J sold $563,794 worth of stock or 11,150 shares. $804,320 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) was sold by Naman Ananth on Friday, August 12. 95,744 shares with value of $5.51 million were sold by NOGLOWS WILLIAM P on Monday, November 14. $14,587 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) was sold by Hui Richard. $2.01 million worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) was sold by ECKSTEIN BERNSTEIN H CAROL on Monday, August 1. ROMAN THOMAS S sold $177,114 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) on Thursday, November 10.

More recent Cabot Microelectronics Corporation (NASDAQ:CCMP) news were published by: Globenewswire.com which released: “Cabot Microelectronics Corporation and Konfoong Materials International Co …” on November 07, 2016. Also Seekingalpha.com published the news titled: “Cabot Microelectronics Corp. (CCMP) CEO David Li on Q3 2016 Results – Earnings …” on July 28, 2016. Globenewswire.com‘s news article titled: “Cabot Microelectronics Corporation Announces Executive Appointments” with publication date: January 05, 2015 was also an interesting one.

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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