Algert Global LLC Purchases 6,465 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Algert Global LLC increased its position in ACM Research, Inc. (NASDAQ:ACMR) by 29.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,215 shares of the specialty retailer’s stock after purchasing an additional 6,465 shares during the quarter. Algert Global LLC’s holdings in ACM Research were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Steamboat Capital Partners LLC purchased a new position in ACM Research during the first quarter valued at $20,398,000. Millennium Management LLC lifted its position in ACM Research by 283.9% during the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock valued at $21,310,000 after acquiring an additional 683,361 shares during the period. Prelude Capital Management LLC bought a new stake in ACM Research during the fourth quarter worth about $8,640,000. M&G Plc purchased a new stake in ACM Research in the first quarter worth about $7,413,000. Finally, Westend Capital Management LLC bought a new position in shares of ACM Research during the first quarter valued at approximately $4,802,000. 66.75% of the stock is currently owned by institutional investors.

ACM Research Trading Up 16.6 %

NASDAQ:ACMR opened at $22.04 on Friday. ACM Research, Inc. has a 52 week low of $12.53 and a 52 week high of $34.40. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 16.70 and a beta of 1.52. The company’s 50 day moving average price is $17.99 and its 200-day moving average price is $22.56. The company has a quick ratio of 1.26, a current ratio of 2.29 and a debt-to-equity ratio of 0.07.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.