Nuveen Asset Management LLC Decreases Position in ACM Research, Inc. (NASDAQ:ACMR)

Nuveen Asset Management LLC cut its stake in ACM Research, Inc. (NASDAQ:ACMR) by 67.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,136 shares of the specialty retailer’s stock after selling 275,600 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.23% of ACM Research worth $1,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kerrisdale Advisers LLC lifted its stake in ACM Research by 550.8% in the 4th quarter. Kerrisdale Advisers LLC now owns 1,948,003 shares of the specialty retailer’s stock worth $29,415,000 after purchasing an additional 1,648,685 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in ACM Research by 2,258.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,469,271 shares of the specialty retailer’s stock worth $22,171,000 after purchasing an additional 1,406,968 shares in the last quarter. Panview Capital Ltd purchased a new position in ACM Research in the 4th quarter worth approximately $20,758,000. Trexquant Investment LP lifted its stake in ACM Research by 110.4% in the 4th quarter. Trexquant Investment LP now owns 572,870 shares of the specialty retailer’s stock worth $8,650,000 after purchasing an additional 300,622 shares in the last quarter. Finally, Norges Bank purchased a new position in ACM Research in the 4th quarter worth approximately $4,379,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on ACMR shares. JPMorgan Chase & Co. started coverage on shares of ACM Research in a research report on Friday, February 28th. They set an “overweight” rating and a $36.00 price target on the stock. Craig Hallum raised shares of ACM Research from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

ACM Research Stock Up 2.6%

ACMR stock opened at $23.35 on Wednesday. The firm has a market cap of $1.37 billion, a PE ratio of 17.69 and a beta of 1.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The firm’s 50 day moving average price is $21.38 and its 200-day moving average price is $20.72. ACM Research, Inc. has a one year low of $13.87 and a one year high of $30.64.

Insider Activity at ACM Research

In other ACM Research news, insider David H. Wang sold 60,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $22.63, for a total value of $1,357,800.00. Following the completion of the transaction, the insider now owns 672,708 shares in the company, valued at $15,223,382.04. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Chenming Hu sold 163,308 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the transaction, the director now owns 100,002 shares of the company’s stock, valued at approximately $3,000,060. This trade represents a 62.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,576 shares of company stock worth $10,703,375. Insiders own 25.00% of the company’s stock.

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.