Quest Partners LLC Raises Stock Position in ACM Research, Inc. (NASDAQ:ACMR)

Quest Partners LLC grew its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 156.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,481 shares of the specialty retailer’s stock after purchasing an additional 11,883 shares during the quarter. Quest Partners LLC’s holdings in ACM Research were worth $395,000 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 business. Quadrature Capital Ltd purchased a new position in ACM Research in the 1st quarter valued at approximately $1,207,000. Lazard Asset Management LLC grew its stake in ACM Research by 1,197.6% during 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. Bayesian Capital Management LP purchased a new stake in ACM Research during the 1st quarter worth about $383,000. Janus Henderson Group PLC increased its holdings in ACM Research by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 127,519 shares of the specialty retailer’s stock worth $3,716,000 after purchasing an additional 7,713 shares during the period. Finally, Comerica Bank purchased a new position in shares of ACM Research in the 1st quarter valued at about $1,150,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ACMR. Benchmark restated a “buy” rating and set a $38.00 target price on shares of ACM Research in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of ACM Research in a report on Tuesday, October 1st. Finally, Roth Mkm decreased their price objective 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.

Insiders Place Their Bets

In related news, insider Mark Mckechnie sold 16,516 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.00, for a total transaction of $363,352.00. Following the completion of the sale, the insider now owns 900 shares in the company, valued at $19,800. This represents a 94.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the director now owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,116,516 shares of company stock valued at $24,573,590. 31.24% of the stock is currently owned by insiders.

ACM Research Stock Performance

Shares of ACMR opened at $18.79 on Monday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 14.23 and a beta of 1.54. ACM Research, Inc. has a 52-week low of $13.94 and a 52-week high of $34.40. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $19.19 and a 200 day moving average price of $20.35.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The business had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. Research analysts predict that ACM Research, Inc. will post 1.12 EPS for the current fiscal year.

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.