Truist Financial Corp Invests $299,000 in ACM Research, Inc. (NASDAQ:ACMR)

Truist Financial Corp bought a new stake in ACM Research, Inc. (NASDAQ:ACMR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,777 shares of the specialty retailer’s stock, valued at approximately $299,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of ACM Research in the 4th quarter worth about $5,782,000. Algert Global LLC raised its holdings in ACM Research by 530.5% in the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock valued at $3,611,000 after buying an additional 149,670 shares during the period. Portolan Capital Management LLC lifted its position in ACM Research by 7.7% during the third quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after buying an additional 65,616 shares in the last quarter. Barclays PLC lifted its position in ACM Research by 63.3% during the third quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock valued at $2,793,000 after buying an additional 53,319 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in ACM Research during the third quarter worth approximately $1,056,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACMR shares. JPMorgan Chase & Co. assumed coverage on shares of ACM Research in a research note on Friday, February 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Craig Hallum raised ACM Research from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.40.

ACM Research Price Performance

Shares of ACMR stock opened at $26.66 on Thursday. The firm has a fifty day simple moving average of $20.20 and a 200-day simple moving average of $18.80. The company has a market capitalization of $1.54 billion, a PE ratio of 20.20 and a beta of 1.58. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $33.40. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

Insiders Place Their Bets

In other ACM Research news, insider Sotheara Cheav sold 22,598 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total transaction of $519,754.00. Following the completion of the sale, the insider now owns 100,002 shares in the company, valued at $2,300,046. This trade represents a 18.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.24% of the stock is currently owned by company insiders.

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.