Kendall Capital Management Takes $303,000 Position in ACM Research, Inc. (NASDAQ:ACMR)

Kendall Capital Management acquired a new stake in shares of ACM Research, Inc. (NASDAQ:ACMR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,160 shares of the specialty retailer’s stock, valued at approximately $303,000.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of ACM Research by 297.1% during the second quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,444 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in ACM Research during the second quarter valued at approximately $59,000. Lazard Asset Management LLC grew its position in ACM Research by 1,197.6% during the first quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock valued at $93,000 after buying an additional 2,970 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in ACM Research during the second quarter valued at approximately $99,000. Finally, Federated Hermes Inc. grew its position in ACM Research by 453.7% during the second quarter. Federated Hermes Inc. now owns 6,002 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 4,918 shares during the period. 66.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACMR has been the subject of several recent research reports. Benchmark restated a “buy” rating and set a $38.00 target price on shares of ACM Research in a research report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of ACM Research in a research report on Thursday, August 8th. Finally, Roth Mkm cut their target price 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.

ACM Research Stock Performance

ACMR opened at $17.48 on Friday. The firm has a market cap of $995.85 million, a P/E ratio of 13.24 and a beta of 1.52. ACM Research, Inc. has a 1-year low of $12.53 and a 1-year high of $34.40. The company has a 50 day simple moving average of $18.56 and a two-hundred day simple moving average of $23.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.29 and a quick ratio of 1.26.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The firm had revenue of $202.50 million during the quarter, compared to analyst estimates of $163.05 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. ACM Research’s revenue for the quarter was up 40.0% on a year-over-year basis. Equities analysts forecast that ACM Research, Inc. will post 0.92 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.