Penn Capital Management Company LLC Sells 57,905 Shares of ACM Research, Inc. $ACMR

Penn Capital Management Company LLC reduced its position in ACM Research, Inc. (NASDAQ:ACMR) by 20.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,885 shares of the specialty retailer’s stock after selling 57,905 shares during the period. ACM Research makes up about 1.3% of Penn Capital Management Company LLC’s holdings, making the stock its 25th biggest holding. Penn Capital Management Company LLC’s holdings in ACM Research were worth $18,477,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC increased its position in shares of ACM Research by 16,878.8% during the first quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock worth $70,583,000 after acquiring an additional 1,849,914 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in ACM Research by 207.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock valued at $28,286,000 after purchasing an additional 485,282 shares in the last quarter. Bank of America Corp DE grew its stake in ACM Research by 33.4% during the 1st quarter. Bank of America Corp DE now owns 402,412 shares of the specialty retailer’s stock valued at $15,835,000 after purchasing an additional 100,700 shares in the last quarter. First Trust Advisors LP grew its stake in ACM Research by 73.7% during the 1st quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer’s stock valued at $14,716,000 after purchasing an additional 158,664 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in ACM Research during the 2nd quarter worth approximately $41,402,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Haiping Dun sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total value of $405,650.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at $405,650. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David Wang sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total value of $5,221,300.00. Following the sale, the insider owned 802,708 shares in the company, valued at $59,873,989.72. The trade was a 8.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 24.36% of the stock is owned by insiders.

ACM Research Price Performance

ACMR opened at $49.75 on Tuesday. The company has a market capitalization of $3.22 billion, a P/E ratio of 31.09 and a beta of 2.27. The company has a 50-day moving average of $64.42 and a 200-day moving average of $68.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66. ACM Research, Inc. has a 1-year low of $28.46 and a 1-year high of $127.19.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results on Thursday, November 5th. The specialty retailer reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The business had revenue of $367.69 million for the quarter, compared to analysts’ expectations of $310.56 million. During the same quarter last year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. Equities analysts expect that ACM Research, Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings lowered ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Daiwa Securities Group started coverage on ACM Research in a research note on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price for the company. Zacks Research downgraded shares of ACM Research from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Craig Hallum restated a “buy” rating and issued a $100.00 price target on shares of ACM Research in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, ACM Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.75.

About ACM Research

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor fabrication and advanced packaging. Its products support wafer processing, where precision cleaning and other treatment steps help prepare semiconductor wafers during production.

The company’s portfolio includes single-wafer wet-cleaning equipment, electroplating systems, stress-free polishing tools and furnaces, as well as equipment for advanced packaging applications. Its cleaning technologies are designed to remove particles and contaminants from wafers.

Founded in 1998, ACM Research is headquartered in Fremont, California, and has a significant operating presence in China.