Denali Advisors LLC Invests $329,000 in ACM Research, Inc. (NASDAQ:ACMR)

Denali Advisors LLC acquired a new stake in ACM Research, Inc. (NASDAQ:ACMR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,300 shares of the specialty retailer’s stock, valued at approximately $329,000.

A number of other hedge funds have also recently added to or reduced their stakes in ACMR. Federated Hermes Inc. purchased a new stake in shares of ACM Research in the third quarter valued at approximately $46,000. Headlands Technologies LLC acquired a new position in shares of ACM Research during the 4th quarter worth $66,000. Transcendent Capital Group LLC purchased a new position in shares of ACM Research in the 4th quarter valued at about $145,000. Strategic Advocates LLC acquired a new stake in shares of ACM Research in the fourth quarter valued at about $214,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in ACM Research during the first quarter worth about $279,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

Insider Transactions at ACM Research

In related news, insider David H. Wang sold 90,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 590,108 shares of the company’s stock, valued at $13,460,363.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider David H. Wang sold 90,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 590,108 shares in the company, valued at $13,460,363.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jian Wang sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $22.07, for a total value of $662,100.00. Following the completion of the sale, the insider now directly owns 253,158 shares in the company, valued at $5,587,197.06. The disclosure for this sale can be found here. Insiders sold a total of 240,329 shares of company stock worth $5,440,934 over the last ninety days. 31.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACMR. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of ACM Research in a report on Thursday, May 9th. Benchmark raised their price objective on ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th.

ACM Research Stock Performance

NASDAQ:ACMR opened at $23.87 on Thursday. 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 capitalization of $1.36 billion, a P/E ratio of 18.08 and a beta of 1.55. The firm has a 50-day moving average price of $23.78 and a two-hundred day moving average price of $23.68. ACM Research, Inc. has a twelve month low of $11.82 and a twelve month high of $34.40.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. ACM Research had a return on equity of 10.26% and a net margin of 13.79%. The business had revenue of $152.19 million for the quarter, compared to analyst estimates of $151.00 million. As a group, research analysts expect that ACM Research, Inc. will post 1 earnings per share for the current fiscal year.

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.