Steamboat Capital Partners LLC Sells 273,925 Shares of ACM Research, Inc. $ACMR

Key Points

• Steamboat Capital Partners LLC has reduced its stake in ACM Research by 36.6%, now holding 475,000 shares, which constitutes 3.4% of its total holdings.
• ACM Research reported a quarterly earnings per share of $0.54, exceeding the consensus estimate of $0.42, although it fell short of revenue expectations with $215.37 million compared to an estimate of $223.42 million.
• Insiders sold a total of 116,152 shares of ACM Research stock valued at $3.45 million in the past three months, reducing their collective ownership to 25% of the company.

Steamboat Capital Partners LLC trimmed its position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 36.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 475,000 shares of the specialty retailer's stock after selling 273,925 shares during the period. ACM Research comprises 3.4% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 11th largest position. Steamboat Capital Partners LLC owned 0.81% of ACM Research worth $11,086,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. KBC Group NV bought a new position in ACM Research during the 1st quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its position in ACM Research by 506.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer's stock worth $30,000 after acquiring an additional 1,685 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in ACM Research by 871.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,673 shares of the specialty retailer's stock worth $109,000 after acquiring an additional 4,192 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in ACM Research during the 1st quarter worth approximately $114,000. Finally, Palouse Capital Management Inc. grew its position in ACM Research by 76.0% during the 1st quarter. Palouse Capital Management Inc. now owns 5,115 shares of the specialty retailer's stock worth $119,000 after acquiring an additional 2,208 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Tracy Liu sold 15,000 shares of ACM Research stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $30.00, for a total value of $450,000.00. Following the sale, the director directly owned 110,772 shares in the company, valued at approximately $3,323,160. This trade represents a 11.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $420,000.00. Following the completion of the sale, the insider owned 50,001 shares in the company, valued at approximately $1,400,028. This represents a 23.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,152 shares of company stock valued at $3,454,560 in the last 90 days. 25.00% of the stock is owned by insiders.

ACM Research Trading Down 2.3%

ACMR traded down $0.64 on Tuesday, hitting $27.58. 1,197,969 shares of the company were exchanged, compared to its average volume of 1,624,579. The firm has a fifty day simple moving average of $28.03 and a two-hundred day simple moving average of $25.14. 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 12 month low of $13.87 and a 12 month high of $32.54. The stock has a market capitalization of $1.63 billion, a PE ratio of 16.72 and a beta of 1.43.

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

ACM Research Company Profile

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.