It Seems Cabot Microelectronics Corporation (CCMP) Will Go Up. Formed A Few Months Bullish Double Top Pattern

June 19, 2017 - By Adrian Mccoy

Investors sentiment decreased to 1.2 in 2016 Q4. Its down 0.13, from 1.33 in 2016Q3. It dropped, as 8 investors sold Cabot Microelectronics Corporation shares while 63 reduced holdings. 35 funds opened positions while 50 raised stakes. 22.73 million shares or 0.28% more from 22.67 million shares in 2016Q3 were reported.
Jane Street Grp Ltd Liability Corp reported 12,242 shares. Asset accumulated 3,051 shares. Barclays Public Limited Co owns 19,898 shares or 0% of their US portfolio. Kayne Anderson Rudnick Invest Mngmt Lc has 852,892 shares for 0.64% of their portfolio. Perkins Invest Mgmt has 469,678 shares. 1St Source National Bank reported 0.02% stake. Parametric Port Ltd Company reported 66,439 shares stake. Aperio Lc has 5,997 shares for 0% of their portfolio. California Employees Retirement Systems reported 90,200 shares. Geode Mngmt Ltd Llc accumulated 296,914 shares. Blackrock Advsrs Ltd Liability reported 12,472 shares stake. Morgan Dempsey Capital Management Ltd Co invested in 42,354 shares. Narwhal Mgmt reported 0.5% in Cabot Microelectronics Corporation (NASDAQ:CCMP). Da Davidson & stated it has 0% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP). Millennium Management Ltd Llc holds 105,524 shares or 0.01% of its portfolio.

Since January 30, 2017, it had 0 insider buys, and 10 insider sales for $15.46 million activity. ECKSTEIN BERNSTEIN H CAROL also sold $1.44M worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) on Wednesday, March 8. NOGLOWS WILLIAM P also sold $5.04M worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) on Wednesday, February 8. $809,897 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) shares were sold by Birgeneau Robert J. $117,576 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) was sold by ROMAN THOMAS S on Tuesday, February 21. Shares for $1.28 million were sold by JOHNSON WILLIAM S. Shares for $3.40 million were sold by Naman Ananth on Friday, March 10. $876,160 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) shares were sold by Polezoes Lisa A.

The chart of Cabot Microelectronics Corporation (CCMP) shows a double top with $80.82 target or 7.00 % above today’s $75.53 share price. The 5 months chart pattern indicates low risk for the $1.88 billion company. It was reported on Jun, 19 by Finviz.com. If the $80.82 price target is reached, the company will be worth $131.60 million more. Double tops are rare but powerful chart patterns.

About 6,039 shares traded. Cabot Microelectronics Corporation (NASDAQ:CCMP) has risen 87.31% since June 19, 2016 and is uptrending. It has outperformed by 70.61% the S&P500.

Analysts await Cabot Microelectronics Corporation (NASDAQ:CCMP) to report earnings on July, 27 before the open.

Cabot Microelectronics Corporation (NASDAQ:CCMP) Ratings Coverage

Among 2 analysts covering Cabot Microelectronics (NASDAQ:CCMP), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Cabot Microelectronics had 5 analyst reports since August 3, 2015 according to SRatingsIntel. Zacks upgraded the stock to “Sell” rating in Friday, August 14 report. The stock of Cabot Microelectronics Corporation (NASDAQ:CCMP) has “Neutral” rating given on Thursday, February 11 by Citigroup. As per Friday, March 17, the company rating was upgraded by Aegis Capital.

More notable recent Cabot Microelectronics Corporation (NASDAQ:CCMP) news were published by: Prnewswire.com which released: “Purcell Julie & Lefkowitz LLP Is Investigating Cabot Microelectronics …” on January 30, 2017, also Nasdaq.com with their article: “Cabot Microelectronics Corporation to Participate in Investor Conferences” published on June 01, 2017, Nasdaq.com published: “Cabot Microelectronics Corporation to Participate in Credit Suisse …” on June 06, 2017. More interesting news about Cabot Microelectronics Corporation (NASDAQ:CCMP) were released by: Seekingalpha.com and their article: “Cabot Microelectronics’ (CCMP) CEO David Li on Q2 2017 Results – Earnings Call …” published on April 27, 2017 as well as Globenewswire.com‘s news article titled: “Cabot Microelectronics Corporation Completes Acquisition of NexPlanar Corporation” with publication date: October 22, 2015.

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