Geode Capital Management LLC Increases Stock Position in ACM Research, Inc. (NASDAQ:ACMR)

Geode Capital Management LLC increased its position in ACM Research, Inc. (NASDAQ:ACMR) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,180,741 shares of the specialty retailer’s stock after buying an additional 26,620 shares during the quarter. Geode Capital Management LLC owned about 2.05% of ACM Research worth $23,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in ACM Research during the third quarter worth about $37,000. Picton Mahoney Asset Management acquired a new stake in ACM Research during the 2nd quarter worth approximately $59,000. Truvestments Capital LLC purchased a new position in ACM Research in the third quarter valued at approximately $72,000. CWM LLC raised its holdings in ACM Research by 128.4% in the third quarter. CWM LLC now owns 4,408 shares of the specialty retailer’s stock valued at $89,000 after buying an additional 2,478 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in ACM Research during the second quarter valued at approximately $99,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Price Performance

ACMR opened at $15.20 on Friday. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $34.40. The firm has a market cap of $875.61 million, a price-to-earnings ratio of 11.52 and a beta of 1.48. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $17.52 and a 200 day simple moving average of $19.18.

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

Insiders Place Their Bets

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total value of $526,263.00. Following the sale, the insider now owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Xiao Xing sold 700,000 shares of ACM Research stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $21.41, for a total value of $14,987,000.00. Following the completion of the transaction, the director now owns 2,703,906 shares of the company’s stock, valued at $57,890,627.46. This trade represents a 20.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,244,016 shares of company stock worth $26,939,953 in the last three months. 31.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.