The Manufacturers Life Insurance Company Grows Position in ACM Research, Inc. (NASDAQ:ACMR)

The Manufacturers Life Insurance Company increased its position in shares of ACM Research, Inc. (NASDAQ:ACMR) by 7.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,454 shares of the specialty retailer’s stock after buying an additional 1,382 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ACM Research were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ACMR. Steamboat Capital Partners LLC purchased a new position in ACM Research during the 1st quarter worth approximately $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 worth $21,310,000 after acquiring an additional 683,361 shares during the period. M&G Plc acquired a new stake in ACM Research during the 1st quarter worth approximately $7,413,000. Westend Capital Management LLC acquired a new stake in ACM Research during the 1st quarter worth approximately $4,802,000. Finally, Richard P Slaughter Associates Inc acquired a new stake in ACM Research during the 2nd quarter worth approximately $1,512,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Analyst Ratings Changes

ACMR has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of ACM Research in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of ACM Research in a research report on Tuesday, October 1st. Finally, Roth Mkm decreased their price objective on 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

Shares of ACMR stock opened at $19.46 on Thursday. The stock has a fifty day moving average price of $18.73 and a 200 day moving average price of $22.09. The stock has a market cap of $1.11 billion, a PE ratio of 14.74 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 debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29.

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

Insiders Place Their Bets

In other ACM Research news, Director Xiao Xing sold 90,396 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $21.13, for a total transaction of $1,910,067.48. Following the completion of the transaction, the director now owns 2,338,510 shares of the company’s stock, valued at approximately $49,412,716.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other ACM Research news, insider Mark Mckechnie sold 16,516 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.00, for a total transaction of $363,352.00. Following the completion of the transaction, the insider now owns 900 shares of the company’s stock, valued at approximately $19,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Xiao Xing sold 90,396 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $21.13, for a total value of $1,910,067.48. Following the transaction, the director now directly owns 2,338,510 shares of the company’s stock, valued at $49,412,716.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,116,516 shares of company stock valued at $24,573,590. Corporate 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.