ACM Research, Inc. $ACMR Shares Sold by Matthews International Capital Management LLC

Key Points

• Matthews International Capital Management LLC reduced its stake in ACM Research by 10.8%, holding 221,295 shares worth approximately $5.7 million.
• ACM Research's latest quarterly earnings showed an EPS of $0.54, exceeding estimates, with revenue of $215.37 million, a 6.4% increase year-over-year.
• Roth Capital has raised its price target for ACM Research to $50.00, maintaining a "buy" rating on the shares.

Matthews International Capital Management LLC trimmed its holdings in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 10.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 221,295 shares of the specialty retailer's stock after selling 26,931 shares during the period. ACM Research accounts for approximately 1.3% of Matthews International Capital Management LLC's holdings, making the stock its 21st largest holding. Matthews International Capital Management LLC owned approximately 0.38% of ACM Research worth $5,732,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Truist Financial Corp boosted its stake in ACM Research by 4.8% in the 2nd quarter. Truist Financial Corp now owns 22,198 shares of the specialty retailer's stock worth $575,000 after buying an additional 1,021 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of ACM Research by 47.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 38,858 shares of the specialty retailer's stock valued at $1,006,000 after purchasing an additional 12,468 shares in the last quarter. Kendall Capital Management lifted its stake in shares of ACM Research by 19.5% in the 2nd quarter. Kendall Capital Management now owns 54,055 shares of the specialty retailer's stock valued at $1,400,000 after purchasing an additional 8,815 shares in the last quarter. FCG Investment Co lifted its stake in shares of ACM Research by 1.6% in the 2nd quarter. FCG Investment Co now owns 35,877 shares of the specialty retailer's stock valued at $929,000 after purchasing an additional 577 shares in the last quarter. Finally, Congress Asset Management Co. acquired a new position in shares of ACM Research in the 2nd quarter valued at about $5,107,000. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Stock Performance

ACM Research stock opened at $41.56 on Friday. The stock's 50 day moving average price is $30.67 and its 200 day moving average price is $26.39. The firm has a market capitalization of $2.46 billion, a PE ratio of 25.19 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.49 and a current ratio of 2.45. ACM Research, Inc. has a one year low of $13.87 and a one year high of $45.12.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $215.37 million for the quarter, compared to analyst estimates of $223.42 million. ACM Research had a return on equity of 9.57% and a net margin of 13.76%.ACM Research's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. As a group, sell-side analysts expect that ACM Research, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity at ACM Research

In other ACM Research news, insider Lisa Feng sold 15,000 shares of ACM Research stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $28.00, for a total transaction of $420,000.00. Following the sale, the insider directly owned 50,001 shares in the company, valued at $1,400,028. The trade was a 23.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jian Wang sold 30,000 shares of ACM Research stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $35.00, for a total value of $1,050,000.00. Following the sale, the insider owned 253,158 shares in the company, valued at $8,860,530. This represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,152 shares of company stock worth $8,419,160 over the last ninety days. Company insiders own 25.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACMR. Roth Capital reaffirmed a "buy" rating and issued a $50.00 price objective (up from $40.00) on shares of ACM Research in a research note on Monday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of ACM Research in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.25.

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.

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