State Street Corp Sells 765 Shares of ACM Research, Inc. (NASDAQ:ACMR)

State Street Corp trimmed its position in ACM Research, Inc. (NASDAQ:ACMR) by 0.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,150,455 shares of the specialty retailer’s stock after selling 765 shares during the period. State Street Corp’s holdings in ACM Research were worth $23,354,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACMR. Portolan Capital Management LLC lifted its stake in shares of ACM Research by 7.7% during the third quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after acquiring an additional 65,616 shares during the period. Janus Henderson Group PLC raised its holdings in ACM Research by 2.5% during the 3rd quarter. Janus Henderson Group PLC now owns 117,125 shares of the specialty retailer’s stock worth $2,378,000 after purchasing an additional 2,832 shares during the last quarter. Erste Asset Management GmbH acquired a new position in ACM Research during the 3rd quarter valued at about $37,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ACM Research by 255.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,123 shares of the specialty retailer’s stock valued at $733,000 after purchasing an additional 25,963 shares during the last quarter. Finally, Cynosure Group LLC grew its position in shares of ACM Research by 30.7% during the 3rd quarter. Cynosure Group LLC now owns 20,996 shares of the specialty retailer’s stock worth $426,000 after buying an additional 4,930 shares during the period. 66.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total transaction of $167,657.76. Following the transaction, the director now owns 3,430,206 shares in the company, valued at $69,255,859.14. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David H. Wang sold 56,250 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $19.08, for a total value of $1,073,250.00. Following the sale, the insider now directly owns 710,506 shares of the company’s stock, valued at approximately $13,556,454.48. The trade was a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,244,016 shares of company stock valued at $26,939,953 in the last quarter. Company insiders own 31.24% of the company’s stock.

ACM Research Price Performance

ACM Research stock opened at $14.91 on Monday. The firm has a market capitalization of $858.91 million, a P/E ratio of 11.30 and a beta of 1.48. The business has a 50-day moving average of $17.87 and a 200-day moving average of $19.33. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. ACM Research, Inc. has a 1 year low of $13.87 and a 1 year high of $34.40.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. The firm had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that ACM Research, Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ACMR. Craig Hallum lowered shares of ACM Research from a “buy” rating to a “hold” rating and cut their price objective for the company from $30.00 to $18.00 in a report on Thursday, December 5th. Needham & Company LLC cut shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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.