Ashton Thomas Private Wealth LLC Takes Position in ACM Research, Inc. (NASDAQ:ACMR)

Ashton Thomas Private Wealth LLC purchased a new stake in shares of ACM Research, Inc. (NASDAQ:ACMR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,307 shares of the specialty retailer’s stock, valued at approximately $99,000.

Other large investors have also made changes to their positions in the company. CWM LLC raised its holdings in shares of ACM Research by 297.1% during the second quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,444 shares during the period. Picton Mahoney Asset Management acquired a new position in ACM Research in the 2nd quarter valued at approximately $59,000. Lazard Asset Management LLC increased its stake in ACM Research by 1,197.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock valued at $93,000 after buying an additional 2,970 shares during the period. SG Americas Securities LLC acquired a new position in ACM Research in the 1st quarter valued at approximately $196,000. Finally, Transcendent Capital Group LLC acquired a new position in ACM Research in the 4th quarter valued at approximately $145,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Stock Up 3.3 %

ACM Research stock opened at $16.80 on Friday. The company has a market capitalization of $965.16 million, a P/E ratio of 12.73 and a beta of 1.52. The firm’s fifty day simple moving average is $19.24 and its 200-day simple moving average is $23.76. The company has a current ratio of 2.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07. ACM Research, Inc. has a 1-year low of $12.53 and a 1-year high of $34.40.

ACM Research (NASDAQ:ACMR) last released its quarterly 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 business had revenue of $202.50 million for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.45 EPS. 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 research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACM Research in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of ACM Research in a research note on Wednesday, August 7th. Finally, Roth Mkm dropped their price objective on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note 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.