Strs Ohio Cuts Stake in ACM Research, Inc. (NASDAQ:ACMR)

Strs Ohio lessened its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 44.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,200 shares of the specialty retailer’s stock after selling 9,700 shares during the quarter. Strs Ohio’s holdings in ACM Research were worth $238,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Trexquant Investment LP grew its stake in shares of ACM Research by 7.5% during the third quarter. Trexquant Investment LP now owns 17,160 shares of the specialty retailer’s stock valued at $311,000 after buying an additional 1,198 shares during the last quarter. Spire Wealth Management bought a new position in ACM Research during the 3rd quarter worth approximately $27,000. Federated Hermes Inc. bought a new position in ACM Research during the 3rd quarter worth approximately $46,000. Deutsche Bank AG increased its stake in ACM Research by 14.3% in the 3rd quarter. Deutsche Bank AG now owns 24,672 shares of the specialty retailer’s stock worth $447,000 after purchasing an additional 3,087 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ACM Research by 32.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,727 shares of the specialty retailer’s stock valued at $230,000 after purchasing an additional 3,113 shares during the last quarter. 66.75% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Haiping Dun sold 15,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.36, for a total value of $455,400.00. Following the sale, the director now directly owns 874,524 shares of the company’s stock, valued at $26,550,548.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.36, for a total transaction of $455,400.00. Following the completion of the transaction, the director now directly owns 874,524 shares of the company’s stock, valued at approximately $26,550,548.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sotheara Cheav sold 5,000 shares of the company’s stock in a transaction dated 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 sale, 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 sold a total of 149,434 shares of company stock worth $4,375,572 in the last quarter. 33.63% of the stock is owned by company insiders.

ACM Research Stock Down 1.1 %

Shares of NASDAQ ACMR opened at $26.73 on Tuesday. The firm has a fifty day simple moving average of $28.15 and a two-hundred day simple moving average of $21.55. ACM Research, Inc. has a 12 month low of $8.75 and a 12 month high of $34.40. The company has a current ratio of 2.35, a quick ratio of 1.26 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.50 billion, a PE ratio of 22.85 and a beta of 1.39.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $170.30 million for the quarter, compared to analysts’ expectations of $149.54 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. ACM Research’s quarterly revenue was up 57.0% on a year-over-year basis. Equities analysts expect that ACM Research, Inc. will post 1.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About ACM Research

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.