Denali Advisors LLC Buys Shares of 11,300 ACM Research, Inc. (NASDAQ:ACMR)

Denali Advisors LLC purchased a new position in ACM Research, Inc. (NASDAQ:ACMR) during the first quarter, Holdings Channel.com reports. The firm purchased 11,300 shares of the specialty retailer’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Counterpoint Mutual Funds LLC purchased a new position in ACM Research in the first quarter valued at about $279,000. Westend Capital Management LLC bought a new stake in shares of ACM Research in the 1st quarter valued at approximately $4,802,000. Los Angeles Capital Management LLC acquired a new position in ACM Research in the first quarter worth approximately $852,000. Transcendent Capital Group LLC bought a new position in ACM Research during the fourth quarter valued at approximately $145,000. Finally, Prelude Capital Management LLC acquired a new stake in ACM Research in the fourth quarter valued at approximately $8,640,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACMR has been the subject of several analyst reports. Benchmark lifted their price objective on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of ACM Research in a research note on Thursday, May 9th.

ACM Research Price Performance

NASDAQ ACMR opened at $23.87 on Thursday. ACM Research, Inc. has a 1 year low of $11.82 and a 1 year high of $34.40. The company has a fifty day simple moving average of $23.78 and a 200 day simple moving average of $23.68. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.36 billion, a P/E ratio of 18.08 and a beta of 1.55.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $152.19 million during the quarter, compared to analysts’ expectations of $151.00 million. ACM Research had a net margin of 13.79% and a return on equity of 10.26%. On average, sell-side analysts predict that ACM Research, Inc. will post 1 EPS for the current year.

Insider Activity at ACM Research

In other ACM Research news, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total value of $2,052,900.00. Following the transaction, the insider now directly owns 590,108 shares of the company’s stock, valued at approximately $13,460,363.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Haiping Dun sold 19,239 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $22.63, for a total value of $435,378.57. Following the completion of the transaction, the director now owns 855,090 shares in the company, valued at approximately $19,350,686.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.81, for a total transaction of $2,052,900.00. Following the sale, the insider now owns 590,108 shares in the company, valued at $13,460,363.48. The disclosure for this sale can be found here. Insiders sold a total of 240,329 shares of company stock worth $5,440,934 in the last 90 days. 31.24% of the stock is 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.