Seven Eight Capital LP Purchases 65,102 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Seven Eight Capital LP raised its position in ACM Research, Inc. (NASDAQ:ACMR) by 625.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,517 shares of the specialty retailer’s stock after buying an additional 65,102 shares during the period. Seven Eight Capital LP’s holdings in ACM Research were worth $1,741,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ACMR. Steamboat Capital Partners LLC acquired a new position in shares of ACM Research in the 1st quarter worth approximately $20,398,000. UBS Group AG raised its position in ACM Research by 6.6% in the 4th quarter. UBS Group AG now owns 560,250 shares of the specialty retailer’s stock valued at $10,947,000 after purchasing an additional 34,928 shares during the last quarter. Point72 Hong Kong Ltd raised its position in ACM Research by 16.5% in the 4th quarter. Point72 Hong Kong Ltd now owns 496,494 shares of the specialty retailer’s stock valued at $9,701,000 after purchasing an additional 70,227 shares during the last quarter. Prelude Capital Management LLC acquired a new position in ACM Research in the fourth quarter worth $8,640,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ACM Research by 9.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer’s stock worth $9,412,000 after purchasing an additional 34,066 shares during the last quarter. 66.75% of the stock is owned by institutional investors.

ACM Research Trading Down 1.5 %

ACMR stock opened at $16.53 on Thursday. The business has a fifty day moving average of $18.69 and a 200-day moving average of $23.42. The company has a market cap of $942.00 million, a P/E ratio of 12.52 and a beta of 1.52. ACM Research, Inc. has a twelve month low of $12.53 and a twelve month high of $34.40. The company has a quick ratio of 1.26, a current ratio of 2.29 and a debt-to-equity ratio of 0.07.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The company had revenue of $202.50 million for the quarter, compared to analyst estimates of $163.05 million. During the same quarter last year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. As a group, equities research analysts expect that ACM Research, Inc. will post 0.92 EPS for the current year.

Wall Street Analyst Weigh In

ACMR has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th. Roth Mkm dropped their target price on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACM Research in a research report on Thursday, August 8th.

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.