Yong Rong HK Asset Management Ltd Boosts Stock Position in ACM Research, Inc. (NASDAQ:ACMR)

Yong Rong HK Asset Management Ltd grew its position in ACM Research, Inc. (NASDAQ:ACMR) by 133.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 350,000 shares of the specialty retailer’s stock after purchasing an additional 200,000 shares during the period. ACM Research makes up 2.6% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 11th largest position. Yong Rong HK Asset Management Ltd owned approximately 0.63% of ACM Research worth $6,839,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ACMR. Ariose Capital Management Ltd lifted its position in ACM Research by 163.8% during the fourth quarter. Ariose Capital Management Ltd now owns 1,980,671 shares of the specialty retailer’s stock valued at $38,702,000 after purchasing an additional 1,229,839 shares during the period. Panview Asian Equity Master Fund boosted its stake in shares of ACM Research by 264.7% in the fourth quarter. Panview Asian Equity Master Fund now owns 1,057,753 shares of the specialty retailer’s stock worth $20,668,000 after buying an additional 767,753 shares during the last quarter. Vanguard Group Inc. grew its holdings in ACM Research by 10.9% during the third quarter. Vanguard Group Inc. now owns 4,082,835 shares of the specialty retailer’s stock worth $73,920,000 after acquiring an additional 399,854 shares during the period. Allspring Global Investments Holdings LLC raised its position in ACM Research by 1,084.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 286,424 shares of the specialty retailer’s stock valued at $5,186,000 after acquiring an additional 262,235 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in ACM Research during the third quarter valued at approximately $3,254,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

ACM Research Price Performance

Shares of ACMR stock traded up $0.36 on Wednesday, reaching $25.88. 693,409 shares of the company were exchanged, compared to its average volume of 1,638,854. ACM Research, Inc. has a 1 year low of $8.75 and a 1 year high of $34.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.26 and a current ratio of 2.35. The business has a 50-day moving average price of $28.29 and a 200 day moving average price of $21.60. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 21.81 and a beta of 1.39.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.16 by $0.27. The company had revenue of $170.30 million during the quarter, compared to analyst estimates of $149.54 million. ACM Research had a return on equity of 9.23% and a net margin of 13.87%. ACM Research’s quarterly revenue was up 57.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 EPS. Equities research analysts forecast that ACM Research, Inc. will post 1.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACMR has been the subject of several recent research reports. Needham & Company LLC lifted their target price on shares of ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Benchmark upped their price objective on shares of ACM Research from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Roth Mkm upped their price target on ACM Research from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Finally, The Goldman Sachs Group upgraded ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ACM Research presently has an average rating of “Buy” and a consensus target price of $31.88.

Insider Buying and Selling at ACM Research

In other news, Director Tracy Liu sold 12,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total transaction of $315,000.00. Following the completion of the sale, the director now owns 110,772 shares of the company’s stock, valued at $2,791,454.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Tracy Liu sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total transaction of $315,000.00. Following the transaction, the director now directly owns 110,772 shares in the company, valued at approximately $2,791,454.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lisa Feng sold 7,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total value of $189,000.00. Following the completion of the sale, the insider now directly owns 50,001 shares of the company’s stock, valued at approximately $1,260,025.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,434 shares of company stock worth $4,375,572. Corporate insiders own 33.63% of the company’s stock.

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.