Allspring Global Investments Holdings LLC Purchases 186,754 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Allspring Global Investments Holdings LLC raised its position in ACM Research, Inc. (NASDAQ:ACMR) by 65.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 473,178 shares of the specialty retailer’s stock after buying an additional 186,754 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ACM Research were worth $9,246,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in ACM Research by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,082,835 shares of the specialty retailer’s stock valued at $73,920,000 after buying an additional 399,854 shares during the period. Ariose Capital Management Ltd increased its holdings in ACM Research by 163.8% in the 4th quarter. Ariose Capital Management Ltd now owns 1,980,671 shares of the specialty retailer’s stock valued at $38,702,000 after buying an additional 1,229,839 shares during the period. HighTower Advisors LLC bought a new stake in shares of ACM Research during the 3rd quarter valued at approximately $1,091,000. DekaBank Deutsche Girozentrale bought a new stake in shares of ACM Research during the 3rd quarter valued at approximately $68,000. Finally, Dark Forest Capital Management LP grew its holdings in shares of ACM Research by 611.0% during the 3rd quarter. Dark Forest Capital Management LP now owns 102,489 shares of the specialty retailer’s stock valued at $1,856,000 after purchasing an additional 88,074 shares during the last quarter. 66.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACMR has been the topic of several research reports. Roth Mkm lifted their price target on shares of ACM Research from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC lifted their price target on shares of ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. The Goldman Sachs Group raised shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Thursday, February 29th. Finally, Benchmark lifted their price target on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $31.88.

Insider Buying and Selling

In related news, insider Sotheara Cheav sold 5,000 shares of ACM Research stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $29.09, for a total transaction of $145,450.00. Following the sale, the insider now directly owns 105,002 shares in the company, valued at approximately $3,054,508.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Tracy Liu sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total value of $315,000.00. Following the transaction, the director now owns 110,772 shares in the company, valued at approximately $2,791,454.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sotheara Cheav sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total transaction of $145,450.00. Following the completion of the transaction, the insider now owns 105,002 shares in the company, valued at approximately $3,054,508.18. The disclosure for this sale can be found here. Insiders have sold a total of 149,434 shares of company stock worth $4,375,572 in the last ninety days. Company insiders own 33.63% of the company’s stock.

ACM Research Stock Up 2.2 %

NASDAQ:ACMR opened at $28.84 on Wednesday. The firm’s 50 day simple moving average is $26.39 and its 200 day simple moving average is $20.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.35 and a quick ratio of 1.26. ACM Research, Inc. has a one year low of $8.75 and a one year high of $34.40. The company has a market cap of $1.62 billion, a PE ratio of 24.65 and a beta of 1.39.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.16 by $0.27. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The business had revenue of $170.30 million for the quarter, compared to the consensus estimate of $149.54 million. During the same period last year, the company earned $0.15 EPS. The firm’s revenue was up 57.0% compared to the same quarter last year. On average, research analysts anticipate that ACM Research, Inc. will post 1.22 earnings per share for the current year.

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.