Wells Fargo & Company MN Sells 13,426 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Wells Fargo & Company MN lowered its position in ACM Research, Inc. (NASDAQ:ACMR) by 28.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,891 shares of the specialty retailer’s stock after selling 13,426 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of ACM Research worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Rhumbline Advisers increased its position in shares of ACM Research by 0.8% during the fourth quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer’s stock worth $1,113,000 after acquiring an additional 589 shares during the period. Beacon Financial Advisory LLC grew its stake in ACM Research by 7.1% in the fourth quarter. Beacon Financial Advisory LLC now owns 14,495 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 960 shares in the last quarter. Arizona State Retirement System grew its stake in ACM Research by 7.3% in the fourth quarter. Arizona State Retirement System now owns 14,964 shares of the specialty retailer’s stock worth $226,000 after purchasing an additional 1,017 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock worth $47,000 after purchasing an additional 1,236 shares during the period. Finally, AlphaQuest LLC raised its position in ACM Research by 9.5% during the 4th quarter. AlphaQuest LLC now owns 21,331 shares of the specialty retailer’s stock valued at $322,000 after purchasing an additional 1,850 shares in the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ACMR. Craig Hallum upgraded shares of ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. assumed coverage on shares of ACM Research in a report on Friday, February 28th. They issued an “overweight” rating and a $36.00 target price for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of ACM Research in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, ACM Research presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Insiders Place Their Bets

In other news, Director Chenming Hu sold 163,308 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the sale, the director now directly owns 100,002 shares of the company’s stock, valued at $3,000,060. The trade was a 62.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Haiping Dun sold 9,518 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $29.00, for a total value of $276,022.00. Following the completion of the transaction, the director now owns 755,090 shares of the company’s stock, valued at $21,897,610. This trade represents a 1.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 289,174 shares of company stock valued at $8,213,329. 31.24% of the stock is currently owned by corporate insiders.

ACM Research Stock Up 7.2 %

ACM Research stock opened at $19.93 on Friday. The business has a fifty day moving average price of $23.36 and a 200-day moving average price of $20.15. ACM Research, Inc. has a 1-year low of $13.87 and a 1-year high of $30.64. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 15.10 and a beta of 1.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34.

ACM Research Company 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.