Allspring Global Investments Holdings LLC Trims Stake in ACM Research, Inc. (NASDAQ:ACMR)

Allspring Global Investments Holdings LLC lowered its position in ACM Research, Inc. (NASDAQ:ACMR) by 94.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,825 shares of the specialty retailer’s stock after selling 385,310 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ACM Research were worth $463,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its holdings in ACM Research by 297.1% during the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 1,444 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of ACM Research in the 2nd quarter valued at about $59,000. Lazard Asset Management LLC boosted its stake in ACM Research by 1,197.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock worth $93,000 after purchasing an additional 2,970 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in ACM Research in the 2nd quarter worth approximately $99,000. Finally, Palouse Capital Management Inc. acquired a new stake in ACM Research in the 2nd quarter worth approximately $105,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Price Performance

ACM Research stock opened at $18.55 on Friday. The company’s fifty day moving average price is $18.66 and its 200 day moving average price is $21.31. ACM Research, Inc. has a 1 year low of $12.95 and a 1 year high of $34.40. The stock has a market capitalization of $1.07 billion, a P/E ratio of 14.72 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29.

ACM Research (NASDAQ:ACMR) last announced its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The company had revenue of $202.50 million for the quarter, compared to analysts’ expectations of $163.05 million. During the same quarter in the previous year, the company posted $0.45 EPS. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. As a group, equities research analysts anticipate that ACM Research, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ACMR shares. Roth Mkm reduced their price target on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of ACM Research in a research report on Tuesday, October 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of ACM Research in a report on Wednesday, August 7th.

Insider Activity at ACM Research

In other ACM Research news, Director Xiao Xing sold 8,304 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total transaction of $167,657.76. Following the sale, the director now directly owns 3,430,206 shares in the company, valued at $69,255,859.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Xiao Xing sold 8,304 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total transaction of $526,263.00. Following the sale, the insider now owns 3,403,906 shares in the company, valued at $68,112,159.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,116,516 shares of company stock worth $24,573,590. Company insiders own 31.24% of the company’s stock.

About ACM Research

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.