Summit Global Investments Invests $338,000 in ACM Research, Inc. $ACMR

Summit Global Investments acquired a new stake in ACM Research, Inc. (NASDAQ:ACMR) in the first quarter, HoldingsChannel reports. The firm acquired 8,592 shares of the specialty retailer’s stock, valued at approximately $338,000.

Several other institutional investors and hedge funds have also modified their holdings of ACMR. Farther Finance Advisors LLC boosted its position in ACM Research by 90.1% during the fourth quarter. Farther Finance Advisors LLC now owns 650 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 308 shares during the last quarter. Hantz Financial Services Inc. grew its stake in ACM Research by 266.7% in the 4th quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 480 shares during the period. Leonteq Securities AG acquired a new position in ACM Research in the 4th quarter valued at $28,000. GAMMA Investing LLC raised its holdings in ACM Research by 38.8% in the 4th quarter. GAMMA Investing LLC now owns 1,070 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 299 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of ACM Research by 656.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 1,122 shares during the period. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Trading Down 1.2%

ACMR stock opened at $88.42 on Friday. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 67.50 and a beta of 1.90. The company has a quick ratio of 2.52, a current ratio of 3.51 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $91.59 and a 200-day simple moving average of $66.46. ACM Research, Inc. has a 52 week low of $23.03 and a 52 week high of $127.19.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.The firm had revenue of $231.26 million for the quarter, compared to analysts’ expectations of $215.69 million. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities research analysts expect that ACM Research, Inc. will post 1.02 EPS for the current year.

Insider Transactions at ACM Research

In other news, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total value of $331,100.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $331,100. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sotheara Cheav sold 13,351 shares of ACM Research stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $85.15, for a total value of $1,136,837.65. Following the completion of the transaction, the insider directly owned 100,002 shares in the company, valued at $8,515,170.30. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 123,752 shares of company stock worth $10,752,198 in the last three months. 24.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ACMR has been the topic of several analyst reports. Seaport Research Partners assumed coverage on ACM Research in a report on Monday, May 4th. They set a “buy” rating and a $75.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and set a $130.00 target price (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Wall Street Zen raised ACM Research from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Capital set a $125.00 price target on ACM Research and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, Zacks Research downgraded shares of ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, ACM Research currently has an average rating of “Moderate Buy” and an average target price of $127.50.

ACM Research Profile

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.