Virtu Financial LLC Trims Stock Position in Cabot Microelectronics Co. (NASDAQ:CCMP)

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Virtu Financial LLC lessened its position in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 57.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,441 shares of the semiconductor company’s stock after selling 6,097 shares during the quarter. Virtu Financial LLC’s holdings in Cabot Microelectronics were worth $627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new stake in Cabot Microelectronics in the second quarter valued at approximately $44,000. Tower Research Capital LLC TRC acquired a new position in shares of Cabot Microelectronics during the second quarter worth $130,000. Keybank National Association OH acquired a new position in shares of Cabot Microelectronics during the third quarter worth $212,000. Griffin Asset Management Inc. acquired a new position in shares of Cabot Microelectronics during the second quarter worth $202,000. Finally, Tuttle Tactical Management acquired a new position in shares of Cabot Microelectronics during the third quarter worth $230,000. 98.36% of the stock is currently owned by institutional investors.

NASDAQ CCMP opened at $133.41 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.97 and a quick ratio of 2.12. Cabot Microelectronics Co. has a 1 year low of $82.24 and a 1 year high of $160.81. The company has a market capitalization of $3.88 billion, a PE ratio of 19.85 and a beta of 1.31. The company has a fifty day moving average of $146.21 and a two-hundred day moving average of $125.12.

Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings data on Sunday, November 17th. The semiconductor company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.05. Cabot Microelectronics had a net margin of 3.78% and a return on equity of 21.12%. The company had revenue of $278.65 million during the quarter, compared to the consensus estimate of $278.90 million. On average, research analysts expect that Cabot Microelectronics Co. will post 7.33 earnings per share for the current year.

A number of equities analysts recently commented on the stock. Buckingham Research reiterated a “buy” rating and set a $170.00 target price (up previously from $150.00) on shares of Cabot Microelectronics in a research note on Monday, October 28th. ValuEngine downgraded shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Zacks Investment Research downgraded shares of Cabot Microelectronics from a “buy” rating to a “sell” rating in a research note on Thursday, November 21st. TheStreet downgraded shares of Cabot Microelectronics from an “a” rating to a “c+” rating in a research note on Monday, November 18th. Finally, Seaport Global Securities downgraded shares of Cabot Microelectronics from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $151.20.

Cabot Microelectronics Company Profile

Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.

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

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