ACM Research, Inc. $ACMR Shares Purchased by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its ACM Research stake by 23.8% in the third quarter, acquiring 53,295 additional shares and bringing its holdings to 277,150 shares valued at approximately $22.4 million. Institutional investors collectively own 66.75% of the company.
• Analysts maintain a generally positive outlook, with ACMR receiving an average “Buy” rating and a consensus price target of $122.75. Ratings range from “Strong Buy” to “Hold,” with targets as high as $130.
• ACM Research exceeded quarterly expectations, reporting adjusted EPS of $0.61 versus $0.42 expected and revenue of $292.9 million, up 36% year over year. However, insiders recently sold shares, including a $5.2 million sale by David Wang.

Congress Asset Management Co. raised its position in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 23.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 277,150 shares of the specialty retailer's stock after acquiring an additional 53,295 shares during the period. Congress Asset Management Co. owned approximately 0.43% of ACM Research worth $22,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. boosted its stake in shares of ACM Research by 2.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the specialty retailer's stock worth $662,000 after acquiring an additional 115 shares in the last quarter. GAMMA Investing LLC lifted its holdings in ACM Research by 14.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer's stock valued at $183,000 after purchasing an additional 182 shares in the last quarter. First Growth Capital LLC boosted its position in ACM Research by 5.4% during the first quarter. First Growth Capital LLC now owns 5,598 shares of the specialty retailer's stock worth $226,000 after acquiring an additional 285 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of ACM Research by 195.2% during the second quarter. Harbor Investment Advisory LLC now owns 738 shares of the specialty retailer's stock worth $94,000 after purchasing an additional 488 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of ACM Research by 26.0% in the first quarter. Royal Bank of Canada now owns 4,118 shares of the specialty retailer's stock valued at $162,000 after purchasing an additional 849 shares during the period. Hedge funds and other institutional investors own 66.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ACMR shares. Roth Capital set a $125.00 target price on shares of ACM Research and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Morgan Stanley reaffirmed 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. Weiss Ratings lowered shares of ACM Research from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 24th. Zacks Research raised shares of ACM Research from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Finally, Craig Hallum reissued a "buy" rating and set a $100.00 price objective on shares of ACM Research in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $122.75.

ACM Research Stock Performance

ACMR stock opened at $75.35 on Wednesday. The stock's fifty day moving average is $76.34 and its two-hundred day moving average is $74.40. ACM Research, Inc. has a 1 year low of $28.46 and a 1 year high of $127.19. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 35.88 and a beta of 2.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66.

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

Insider Activity at ACM Research

In other news, Director Haiping Dun sold 5,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total transaction of $405,650.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $405,650. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Wang sold 70,000 shares of ACM Research stock in a transaction dated 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 owned 802,708 shares in the company, valued at $59,873,989.72. The trade was a 8.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 24.36% of the company's stock.

About ACM Research

ACM Research, Inc NASDAQ: ACMR develops, manufactures and sells semiconductor wafer-processing equipment used by integrated device manufacturers, foundries and advanced packaging companies. Its systems are designed to support processes involved in producing semiconductor devices, including wafer cleaning, surface preparation and related fabrication steps.

The company's product portfolio includes single-wafer cleaning systems, batch wafer-cleaning equipment, wet-processing systems and tools for specialized applications such as wafer bevel cleaning and advanced packaging.

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