ACM Research, Inc. $ACMR Position Cut by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its ACM Research position by 94.2% in the second quarter, selling 40,436 shares and retaining 2,505 shares valued at approximately $318,000.
• Other institutions increased their holdings, with hedge funds and institutional investors collectively owning 66.75% of ACM Research. The stock opened at $77.30, while recent quarterly results exceeded expectations, including $0.61 EPS versus a $0.42 consensus estimate and 36% year-over-year revenue growth.
• Analysts maintain a generally positive view, with a consensus “Buy” rating and an average price target of $122.75. However, company insiders recently sold shares, including a 70,000-share sale by insider David H. Wang.

Engineers Gate Manager LP lowered its position in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 94.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,505 shares of the specialty retailer's stock after selling 40,436 shares during the quarter. Engineers Gate Manager LP's holdings in ACM Research were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

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

ACM Research Stock Up 1.5%

Shares of NASDAQ ACMR opened at $77.30 on Friday. ACM Research, Inc. has a 12-month low of $28.46 and a 12-month high of $127.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 2.66. The firm's 50-day moving average is $77.16 and its two-hundred day moving average is $72.65. The company has a market capitalization of $5.00 billion, a PE ratio of 36.81 and a beta of 1.96.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.19. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The company had revenue of $292.92 million during the quarter, compared to the consensus estimate of $269.28 million. During the same quarter last year, the business posted $0.54 earnings per share. ACM Research's revenue was up 36.0% compared to the same quarter last year. Equities analysts anticipate that ACM Research, Inc. will post 1.68 EPS for the current fiscal year.

Insider Activity at ACM Research

In other ACM Research news, insider David H. Wang sold 70,000 shares of the business's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total value of $5,221,300.00. Following the completion of the transaction, the insider directly owned 802,708 shares in the company, valued at approximately $59,873,989.72. The trade was a 8.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Haiping Dun sold 5,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total value of $405,650.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $405,650. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 24.36% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Roth Capital set a $125.00 price objective on ACM Research and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Morgan Stanley restated an "overweight" rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Zacks Research raised ACM Research from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Weiss Ratings lowered shares of ACM Research from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. Finally, Daiwa Securities Group started coverage on shares of ACM Research in a research note on Wednesday, August 26th. They issued a "buy" rating and a $136.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $122.75.

About ACM Research

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor manufacturing and advanced packaging. Its products are designed for wafer processing steps that help semiconductor manufacturers clean, prepare and deposit materials on silicon wafers and other substrates.

The company's product portfolio includes single-wafer cleaning systems, wet-processing equipment, electrochemical deposition systems, furnace systems and equipment for advanced packaging applications. Its cleaning technologies include the Space Alternated Phase Shift (SAPS) and Tahoe platforms, which are intended to remove contaminants and residues while supporting the production of increasingly complex semiconductor devices.

Founded in 1998, ACM Research is headquartered in Fremont, California, and serves semiconductor manufacturers and other customers through operations and facilities in the United States, China and other international markets.

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