Today’s Price Action: Can Cabot Microelectronics Corporation’s Tomorrow be Different? The Stock Just Broke Its High

Today's Price Action: Can Cabot Microelectronics Corporation's Tomorrow be Different? The Stock Just Broke Its High

The stock of Cabot Microelectronics Corporation (NASDAQ:CCMP) hit a new 52-week high and has $77.57 target or 37.00% above today’s $56.62 share price. The 5 months bullish chart indicates low risk for the $1.36 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $77.57 price target is reached, the company will be worth $503.20M 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 92,367 shares traded hands. Cabot Microelectronics Corporation (NASDAQ:CCMP) has risen 38.32% since April 7, 2016 and is uptrending. It has outperformed by 33.54% 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 Q2 2016. 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.
Nj State Employees Deferred Compensation Plan accumulated 0.18% or 20,000 shares. Wells Fargo And Mn accumulated 328,645 shares or 0.01% of the stock. Blackrock Invest Mngmt Ltd Liability Corporation holds 107,336 shares or 0.01% of its portfolio. The Massachusetts-based Loomis Sayles And Lp has invested 0% in Cabot Microelectronics Corporation (NASDAQ:CCMP). Manufacturers Life Insur The holds 15,401 shares or 0% of its portfolio. Bnp Paribas Arbitrage Sa, a New York-based fund reported 8,108 shares. Da Davidson And Communications has invested 0% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP). Kayne Anderson Rudnick Mgmt Limited Liability Co has 0.44% invested in the company for 696,074 shares. Dupont Cap Mngmt reported 7,513 shares or 0.01% of all its holdings. Peak6 L P, a Illinois-based fund reported 38,163 shares. Blackrock last reported 0% of its portfolio in the stock. Allianz Asset Management Ag has invested 0% of its portfolio in Cabot Microelectronics Corporation (NASDAQ:CCMP). Bluecrest Ltd has 10,404 shares for 0.02% of their US portfolio. Pinebridge Limited Partnership owns 2,964 shares or 0.01% of their US portfolio. Brown Brothers Harriman & last reported 0% of its portfolio in the stock.

Insider Transactions: Since June 14, 2016, the stock had 0 insider buys, and 19 selling transactions for $17.69 million net activity. $441,081 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) shares were sold by Birgeneau Robert J. 2,834 shares with value of $122,627 were sold by Polezoes Lisa A on Tuesday, June 14. 2,888 Cabot Microelectronics Corporation (NASDAQ:CCMP) shares with value of $146,414 were sold by Damashek Yumiko. $2.01M worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) was sold by ECKSTEIN BERNSTEIN H CAROL on Monday, August 1. Another trade for 288 shares valued at $14,587 was sold by Hui Richard. $253,941 worth of Cabot Microelectronics Corporation (NASDAQ:CCMP) shares were sold by ROMAN THOMAS S. HILL RICHARD had sold 6,875 shares worth $344,592 on Friday, August 5.

More notable 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 Globenewswire.com with their article: “Cabot Microelectronics Corporation Names David H. Li as Chief Executive …” published on December 16, 2014, Globenewswire.com published: “Cabot Microelectronics Corporation Announces Executive Appointments” on January 05, 2015. More interesting news about Cabot Microelectronics Corporation (NASDAQ:CCMP) were released by: Pehub.com and their article: “Cabot Microelectronics Corp to acquire VC-backed NexPlanar Corp” published on September 28, 2015 as well as Seekingalpha.com‘s news article titled: “Cabot Microelectronics Corp. (CCMP) CEO David Li on Q3 2016 Results – Earnings …” with publication date: July 28, 2016.

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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