Connective Capital Management LLC Invests $323,000 in ACM Research, Inc. (NASDAQ:ACMR)

Connective Capital Management LLC bought a new position in shares of ACM Research, Inc. (NASDAQ:ACMR) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,028 shares of the specialty retailer’s stock, valued at approximately $323,000. ACM Research accounts for 0.6% of Connective Capital Management LLC’s investment portfolio, making the stock its 23rd largest position.

A number of other institutional investors also recently modified their holdings of ACMR. CWM LLC lifted its holdings in ACM Research by 297.1% in the second quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock worth $45,000 after buying an additional 1,444 shares during the period. Picton Mahoney Asset Management purchased a new stake in ACM Research in the second quarter worth about $59,000. Lazard Asset Management LLC lifted its holdings in ACM Research by 1,197.6% in the first quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock worth $93,000 after buying an additional 2,970 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in ACM Research in the second quarter worth about $99,000. Finally, Palouse Capital Management Inc. purchased a new position in shares of ACM Research during the second quarter valued at approximately $105,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

ACM Research Stock Up 0.9 %

ACMR opened at $19.49 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29. ACM Research, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $34.40. The firm’s fifty day moving average is $17.99 and its 200 day moving average is $22.84. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 14.77 and a beta of 1.52.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of ACM Research in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACM Research in a report on Thursday, August 8th. Finally, Roth Mkm lowered their target price on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th.

ACM Research Company 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.