ACM Research, Inc. $ACMR Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its ACM Research position by 33.4% in the first quarter, purchasing 100,700 additional shares to own 402,412 shares valued at approximately $15.8 million.
• Institutional investors own 66.75% of ACM Research, while insiders sold 123,752 shares worth $10.8 million over the past 90 days, including sizable sales by Sotheara Cheav and David H. Wang.
• Analysts maintain a favorable outlook, with the stock receiving a consensus “Buy” rating and an average price target of $118.33. ACM Research also exceeded quarterly expectations, reporting $0.61 in EPS and $292.9 million in revenue, up 36% year over year.

Bank of America Corp DE raised its position in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 33.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 402,412 shares of the specialty retailer's stock after purchasing an additional 100,700 shares during the quarter. Bank of America Corp DE owned 0.66% of ACM Research worth $15,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ACMR. Maryland State Retirement & Pension System grew its position in ACM Research by 2.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 7,764 shares of the specialty retailer's stock valued at $306,000 after acquiring an additional 168 shares in the last quarter. MML Investors Services LLC lifted its holdings in ACM Research by 1.0% during the 4th quarter. MML Investors Services LLC now owns 22,851 shares of the specialty retailer's stock worth $901,000 after buying an additional 217 shares in the last quarter. First Growth Capital LLC boosted its position in ACM Research by 5.4% in the 1st quarter. First Growth Capital LLC now owns 5,598 shares of the specialty retailer's stock valued at $226,000 after buying an additional 285 shares during the period. Farther Finance Advisors LLC increased its position in shares of ACM Research by 90.1% during the fourth quarter. Farther Finance Advisors LLC now owns 650 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 308 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of ACM Research by 7.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,076 shares of the specialty retailer's stock valued at $157,000 after acquiring an additional 416 shares in the last quarter. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Sotheara Cheav sold 5,399 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $83.18, for a total value of $449,088.82. Following the completion of the sale, the insider directly owned 100,002 shares of the company's stock, valued at approximately $8,318,166.36. This represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David H. Wang sold 40,002 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $85.80, for a total transaction of $3,432,171.60. Following the sale, the insider owned 802,708 shares of the company's stock, valued at $68,872,346.40. This trade represents a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,752 shares of company stock worth $10,826,748 in the last 90 days. Company insiders own 24.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ACMR. Weiss Ratings upgraded ACM Research from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Craig Hallum reaffirmed a "buy" rating and issued a $100.00 target price on shares of ACM Research in a report on Monday, August 10th. Wall Street Zen upgraded shares of ACM Research from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Seaport Research Partners began coverage on shares of ACM Research in a research report on Monday, May 4th. They set a "buy" rating and a $75.00 price objective for the company. Finally, Roth Capital set a $125.00 target price on ACM Research and gave the company a "buy" rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat.com, ACM Research presently has an average rating of "Buy" and a consensus target price of $118.33.

ACM Research Trading Up 1.2%

NASDAQ:ACMR opened at $78.52 on Friday. The company has a market capitalization of $5.08 billion, a PE ratio of 37.39 and a beta of 1.96. ACM Research, Inc. has a 52-week low of $24.93 and a 52-week high of $127.19. The stock's 50 day moving average price is $91.40 and its 200 day moving average price is $70.37. The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08.

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

ACM Research Company Profile

ACM Research, Inc NASDAQ: ACMR designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.

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