Hudson Executive Capital Lp buys $29,013,321 stake in Cabot Microelectronics Corporation (CCMP)

Cabot Microelectronics Corporation (CCMP) : Hudson Executive Capital Lp scooped up 23,403 additional shares in Cabot Microelectronics Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 585,300 shares of Cabot Microelectronics Corporation which is valued at $29,013,321.Cabot Microelectronics Corporation makes up approximately 9.92% of Hudson Executive Capital Lp’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in CCMP in the latest quarter, The investment management firm added 2,187 additional shares and now holds a total of 134,281 shares of Cabot Microelectronics Corporation which is valued at $6,656,309. Cabot Microelectronics Corporation makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.Blackrock Fund Advisors boosted its stake in CCMP in the latest quarter, The investment management firm added 12,286 additional shares and now holds a total of 1,540,488 shares of Cabot Microelectronics Corporation which is valued at $76,361,990. Cabot Microelectronics Corporation makes up approx 0.02% of Blackrock Fund Advisors’s portfolio.Blackrock Advisors reduced its stake in CCMP by selling 33 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 11,300 shares of CCMP which is valued at $560,141.

Cabot Microelectronics Corporation opened for trading at $49.75 and hit $50.13 on the upside on Thursday, eventually ending the session at $50.12, with a gain of 0.80% or 0.4 points. The heightened volatility saw the trading volume jump to 66,044 shares. Company has a market cap of $1,210 M.

On the company’s financial health, Cabot Microelectronics Corporation reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.56. The company had revenue of $108.10 million for the quarter, compared to analysts expectations of $106.73 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 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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