AlphaQuest LLC Boosts Position in ACM Research, Inc. $ACMR

AlphaQuest LLC lifted its stake in shares of ACM Research, Inc. (NASDAQ:ACMR) by 55.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,487 shares of the specialty retailer’s stock after acquiring an additional 7,300 shares during the period. AlphaQuest LLC’s holdings in ACM Research were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Investing LLC acquired a new stake in shares of ACM Research during the 1st quarter worth about $655,000. Aberdeen Group plc acquired a new stake in shares of ACM Research during the 1st quarter worth about $235,000. Pinpoint Asset Management Ltd grew its position in ACM Research by 14.4% in the 1st quarter. Pinpoint Asset Management Ltd now owns 122,428 shares of the specialty retailer’s stock valued at $2,857,000 after acquiring an additional 15,382 shares in the last quarter. Bryce Point Capital LLC acquired a new position in ACM Research in the 1st quarter valued at about $761,000. Finally, Allspring Global Investments Holdings LLC grew its position in ACM Research by 48.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,889 shares of the specialty retailer’s stock valued at $812,000 after acquiring an additional 11,015 shares in the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Price Performance

Shares of NASDAQ ACMR opened at $40.47 on Wednesday. The stock has a market cap of $2.39 billion, a P/E ratio of 24.53 and a beta of 1.42. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $34.92 and a two-hundred day moving average of $28.37. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $45.12.

ACM Research (NASDAQ:ACMR) last released its earnings results on Wednesday, August 6th. The specialty retailer reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $215.37 million for the quarter, compared to analyst estimates of $223.42 million. ACM Research had a return on equity of 9.57% and a net margin of 13.76%.The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, research analysts forecast that ACM Research, Inc. will post 1.17 earnings per share for the current year.

Analysts Set New Price Targets

ACMR has been the subject of several research reports. Roth Capital reaffirmed a “buy” rating and issued a $50.00 target price (up from $40.00) on shares of ACM Research in a research report on Monday, September 29th. Weiss Ratings raised ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Insiders Place Their Bets

In related news, Director Tracy Liu sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $33.00, for a total transaction of $495,000.00. Following the transaction, the director owned 110,772 shares of the company’s stock, valued at $3,655,476. This represents a 11.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David H. Wang sold 70,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $26.76, for a total value of $1,873,200.00. Following the completion of the sale, the insider directly owned 672,708 shares in the company, valued at $18,001,666.08. This trade represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 256,152 shares of company stock worth $7,549,160. Insiders own 25.00% of the company’s stock.

ACM Research Profile

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.