Allspring Global Investments Holdings LLC Trims Position in ACM Research, Inc. $ACMR

Allspring Global Investments Holdings LLC trimmed its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 5.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,930 shares of the specialty retailer’s stock after selling 1,959 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of ACM Research worth $848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC raised its holdings in shares of ACM Research by 87.6% in the second quarter. CWM LLC now owns 21,262 shares of the specialty retailer’s stock valued at $551,000 after buying an additional 9,931 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of ACM Research by 7.7% in the second quarter. Aberdeen Group plc now owns 10,979 shares of the specialty retailer’s stock valued at $287,000 after buying an additional 785 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of ACM Research by 2.4% in the second quarter. Vontobel Holding Ltd. now owns 20,551 shares of the specialty retailer’s stock valued at $532,000 after buying an additional 491 shares during the last quarter. Truist Financial Corp raised its holdings in shares of ACM Research by 4.8% in the second quarter. Truist Financial Corp now owns 22,198 shares of the specialty retailer’s stock valued at $575,000 after buying an additional 1,021 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of ACM Research by 47.2% in the second quarter. Janney Montgomery Scott LLC now owns 38,858 shares of the specialty retailer’s stock valued at $1,006,000 after buying an additional 12,468 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACMR has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACM Research in a report on Wednesday, October 8th. Roth Capital reissued a “buy” rating and set a $50.00 price target (up from $40.00) on shares of ACM Research in a report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.25.

Insider Transactions at ACM Research

In other ACM Research news, insider Sotheara Cheav sold 10,000 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. Following the sale, the insider owned 100,002 shares of the company’s stock, valued at approximately $3,500,070. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jian Wang sold 30,000 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $35.00, for a total value of $1,050,000.00. Following the completion of the sale, the insider directly owned 253,158 shares in the company, valued at $8,860,530. This trade represents a 10.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 256,152 shares of company stock worth $7,549,160 over the last ninety days. 25.00% of the stock is currently owned by company insiders.

ACM Research Trading Up 7.0%

Shares of ACMR opened at $40.25 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $33.93 and its two-hundred day moving average is $27.77. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $45.12. The firm has a market capitalization of $2.38 billion, a P/E ratio of 24.39 and a beta of 1.42.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, August 6th. The specialty retailer reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. ACM Research had a net margin of 13.76% and a return on equity of 9.57%. The company had revenue of $215.37 million for the quarter, compared to analyst estimates of $223.42 million. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts predict that ACM Research, Inc. will post 1.17 earnings per share for the current fiscal 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.