Kingdom Ridge Capital adds Cabot Microelectronics Corporation (CCMP) to its portfolio

Cabot Microelectronics Corporation (CCMP) : Kingdom Ridge Capital added new position in Cabot Microelectronics Corporation during the most recent quarter end. The investment management firm now holds 50,500 shares of Cabot Microelectronics Corporation which is valued at $2,915,870 , the company said in a statement filed on Nov 14, 2016 with the SEC.Cabot Microelectronics Corporation makes up approximately 2.63% of Kingdom Ridge Capital’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds added CCMP to its portfolio by purchasing 3,859 company shares during the most recent quarter which is valued at $222,819.Blackrock Group Ltd boosted its stake in CCMP in the latest quarter, The investment management firm added 2,186 additional shares and now holds a total of 35,561 shares of Cabot Microelectronics Corporation which is valued at $2,000,306.Blackrock Fund Advisors boosted its stake in CCMP in the latest quarter, The investment management firm added 137,967 additional shares and now holds a total of 1,678,455 shares of Cabot Microelectronics Corporation which is valued at $94,413,094. Cabot Microelectronics Corporation makes up approx 0.02% of Blackrock Fund Advisors’s portfolio.Moody Aldrich Partners boosted its stake in CCMP in the latest quarter, The investment management firm added 730 additional shares and now holds a total of 59,780 shares of Cabot Microelectronics Corporation which is valued at $3,105,571. Cabot Microelectronics Corporation makes up approx 2.24% of Moody Aldrich Partners’s portfolio.

Cabot Microelectronics Corporation opened for trading at $59.23 and hit $59.95 on the upside on Monday, eventually ending the session at $59.88, with a gain of 1.20% or 0.71 points. The heightened volatility saw the trading volume jump to 1,69,565 shares. Company has a market cap of $1,474 M.

On the company’s financial health, Cabot Microelectronics Corporation reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.71. The company had revenue of $122.70 million for the quarter, compared to analysts expectations of $114.50 million. The company’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Cabot Microelectronics Corporation is a supplier of polishing slurries and a growing polishing pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry in a process called chemical mechanical planarization (CMP). The Company is into the development manufacture and sale of CMP consumables products. It also develops produces and sells CMP slurries for polishing many of the conducting insulating and isolating materials used in IC devices and also for polishing the disk substrates and magnetic heads used in hard disk drives. The Company also develops manufactures and sells CMP polishing pads which are used in conjunction with slurries in the CMP process.

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