Los Angeles Capital Management LLC Sells 750 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Los Angeles Capital Management LLC reduced its stake in ACM Research, Inc. (NASDAQ:ACMR) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,317 shares of the specialty retailer’s stock after selling 750 shares during the period. Los Angeles Capital Management LLC’s holdings in ACM Research were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its position in ACM Research by 39.3% in the second quarter. AQR Capital Management LLC now owns 178,460 shares of the specialty retailer’s stock valued at $4,115,000 after acquiring an additional 50,356 shares during the period. Richard P Slaughter Associates Inc boosted its stake in shares of ACM Research by 94.9% in the 3rd quarter. Richard P Slaughter Associates Inc now owns 127,810 shares of the specialty retailer’s stock valued at $2,595,000 after purchasing an additional 62,247 shares in the last quarter. Swiss National Bank grew its holdings in shares of ACM Research by 1.2% in the 1st quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer’s stock worth $2,558,000 after purchasing an additional 1,000 shares during the last quarter. Millennium Management LLC increased its position in shares of ACM Research by 283.9% during the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after purchasing an additional 683,361 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in ACM Research by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer’s stock valued at $8,761,000 after purchasing an additional 12,593 shares during the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on ACMR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of ACM Research in a research note on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th. Finally, Roth Mkm reduced their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

ACM Research Price Performance

Shares of ACMR stock opened at $18.33 on Friday. ACM Research, Inc. has a 1 year low of $13.94 and a 1 year high of $34.40. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $18.94 and its 200-day moving average is $20.63. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.89 and a beta of 1.54.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. The firm had revenue of $204.00 million for the quarter, compared to analyst estimates of $191.18 million. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. Sell-side analysts forecast that ACM Research, Inc. will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other ACM Research news, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total transaction of $167,657.76. Following the completion of the sale, the director now owns 3,430,206 shares of the company’s stock, valued at approximately $69,255,859.14. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $24.07, for a total value of $6,619,250.00. Following the completion of the transaction, the insider now owns 2,428,906 shares in the company, valued at $58,463,767.42. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,116,516 shares of company stock worth $24,573,590 over the last three months. 31.24% of the stock is currently owned by company insiders.

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.