JPMorgan Chase & Co. Cuts Holdings in ACM Research, Inc. (NASDAQ:ACMR)

JPMorgan Chase & Co. trimmed its position in ACM Research, Inc. (NASDAQ:ACMR) by 84.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 134,171 shares of the specialty retailer’s stock after selling 705,714 shares during the period. JPMorgan Chase & Co.’s holdings in ACM Research were worth $2,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACMR. Commonwealth Equity Services LLC grew its holdings in shares of ACM Research by 15.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,628 shares of the specialty retailer’s stock valued at $337,000 after acquiring an additional 1,970 shares in the last quarter. Victory Capital Management Inc. boosted its position in ACM Research by 41.4% in the second quarter. Victory Capital Management Inc. now owns 11,050 shares of the specialty retailer’s stock worth $255,000 after purchasing an additional 3,236 shares during the last quarter. American Century Companies Inc. grew its stake in ACM Research by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 110,299 shares of the specialty retailer’s stock valued at $2,543,000 after purchasing an additional 13,426 shares during the period. Federated Hermes Inc. increased its position in shares of ACM Research by 453.7% during the 2nd quarter. Federated Hermes Inc. now owns 6,002 shares of the specialty retailer’s stock valued at $138,000 after purchasing an additional 4,918 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of ACM Research during the 2nd quarter worth $202,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Stock Down 0.2 %

ACMR stock opened at $17.64 on Tuesday. The stock has a fifty day moving average of $16.46 and a 200-day moving average of $18.26. ACM Research, Inc. has a fifty-two week low of $13.87 and a fifty-two week high of $34.40. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 13.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

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

Insider Activity at ACM Research

In other news, insider David H. Wang sold 56,250 shares of ACM Research stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $19.08, for a total value of $1,073,250.00. Following the completion of the transaction, the insider now directly owns 710,506 shares in the company, valued at approximately $13,556,454.48. The trade was a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Haiping Dun sold 15,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $19.12, for a total value of $286,800.00. Following the sale, the director now owns 774,148 shares in the company, valued at approximately $14,801,709.76. The trade was a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,500 shares of company stock worth $2,366,363. Corporate insiders own 31.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Craig Hallum lowered shares of ACM Research from a “buy” rating to a “hold” rating and reduced their price target for the company from $30.00 to $18.00 in a research report on Thursday, December 5th. Needham & Company LLC downgraded shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

ACM Research Company 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.