Cubist Systematic Strategies LLC trimmed its stake in Cabot Microelectronics Co. (NASDAQ:CCMP) by 15.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,076 shares of the semiconductor company’s stock after selling 1,095 shares during the period. Cubist Systematic Strategies LLC’s holdings in Cabot Microelectronics were worth $486,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC grew its holdings in Cabot Microelectronics by 88.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 799 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Cabot Microelectronics by 87.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,246 shares of the semiconductor company’s stock valued at $157,000 after buying an additional 1,048 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Cabot Microelectronics by 17.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,232 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 324 shares during the last quarter. Advisor Group Inc. grew its holdings in Cabot Microelectronics by 4.5% in the 2nd quarter. Advisor Group Inc. now owns 2,329 shares of the semiconductor company’s stock valued at $172,000 after buying an additional 100 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Cabot Microelectronics by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock worth $204,000 after purchasing an additional 415 shares in the last quarter. 93.08% of the stock is currently owned by institutional investors and hedge funds.

CCMP has been the topic of several recent research reports. Citigroup lifted their price objective on Cabot Microelectronics from $80.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. BidaskClub lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Loop Capital lifted their price objective on Cabot Microelectronics from $94.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective on the stock in a report on Tuesday, November 7th. Finally, Seaport Global Securities initiated coverage on Cabot Microelectronics in a report on Wednesday, September 6th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $99.75.

In other news, Director Richard Hill sold 15,638 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $94.58, for a total transaction of $1,479,042.04. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $1,428,536.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Yumiko Damashek sold 2,925 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $95.13, for a total value of $278,255.25. Following the sale, the vice president now owns 31,670 shares of the company’s stock, valued at approximately $3,012,767.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,699 shares of company stock valued at $7,111,751. Corporate insiders own 5.50% of the company’s stock.

Shares of Cabot Microelectronics Co. (CCMP) opened at $94.08 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.04 and a quick ratio of 5.25. The company has a market capitalization of $2,394.45, a price-to-earnings ratio of 27.75 and a beta of 1.42. Cabot Microelectronics Co. has a one year low of $62.41 and a one year high of $102.92.

Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings results on Thursday, October 26th. The semiconductor company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.20. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. Cabot Microelectronics’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. equities analysts forecast that Cabot Microelectronics Co. will post 4.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 22nd will be given a $0.20 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.80 annualized dividend and a yield of 0.85%. Cabot Microelectronics’s payout ratio is 23.60%.

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About Cabot Microelectronics

Cabot Microelectronics Corporation 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 Company is engaged in the development, manufacture and sale of CMP consumables.

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Institutional Ownership by Quarter for Cabot Microelectronics (NASDAQ:CCMP)

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