Is Cabot Microelectronics Corporation (CCMP) A Good Stock To Buy?

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Cabot Microelectronics Corporation (NASDAQ:CCMP) has experienced an increase in enthusiasm from smart money lately. There were 15 hedge funds in our database with CCMP positions at the end of the 2016 third quarter. At the end of this article we will also compare CCMP to other stocks including Consolidated Communications Holdings Inc (NASDAQ:CNSL), Builders FirstSource, Inc. (NASDAQ:BLDR), and TopBuild Corp (NYSE:BLD) to get a better sense of its popularity.

Follow Cmc Materials Inc. (NASDAQ:CCMP)

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Keeping this in mind, let’s take a peek at the fresh action surrounding Cabot Microelectronics Corporation (NASDAQ:CCMP).

How are hedge funds trading Cabot Microelectronics Corporation (NASDAQ:CCMP)?

At Q3’s end, a total of 15 of the hedge funds tracked by Insider Monkey were long this stock, a boost of 67% from the second quarter of 2016. The graph below displays the number of hedge funds with bullish position in CCMP over the last 5 quarters. So, let’s review which hedge funds were among the top holders of the stock and which hedge funds were making big moves.


According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Chuck Royce’s Royce & Associates has the number one position in Cabot Microelectronics Corporation (NASDAQ:CCMP), worth close to $49.7 million. Sitting at the No. 2 spot is Douglas Braunstein and James Wooleryá of Hudson Executive Capital, with a $31 million position; the fund has 5.6% of its 13F portfolio invested in the stock. Remaining peers that hold long positions include Hudson Executive Capital, Jim Simons’ Renaissance Technologies and Phill Gross and Robert Atchinson’s Adage Capital Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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