ACM Research, Inc. $ACMR Stock: Penn Capital Management Company LLC Reduces Holdings

Key Points

• Penn Capital cut its ACM Research stake by 20.3% in the third quarter, selling 57,905 shares; it retained 227,885 shares worth about $18.5 million. Other institutional investors made mixed moves, and institutions collectively owned 66.75% of the stock.
• ACM Research beat quarterly estimates, reporting earnings of $0.55 per share versus $0.50 expected and revenue of $367.69 million versus $310.56 million expected. Revenue rose 36.6% year over year.
• Analyst sentiment was broadly positive: four analysts rated the stock Buy and two Hold, for a MarketBeat consensus of “Moderate Buy” and an average price target of $122.75.

Penn Capital Management Company LLC trimmed its position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 20.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 227,885 shares of the specialty retailer's stock after selling 57,905 shares during the period. ACM Research makes up about 1.3% of Penn Capital Management Company LLC's holdings, making the stock its 25th biggest holding. Penn Capital Management Company LLC owned 0.35% of ACM Research worth $18,477,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in ACM Research by 16.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,941 shares of the specialty retailer's stock valued at $1,500,000 after acquiring an additional 2,590 shares during the last quarter. Candriam S.C.A. purchased a new stake in ACM Research during the third quarter valued at about $812,000. Pictet Asset Management Holding SA increased its stake in ACM Research by 8.6% during the third quarter. Pictet Asset Management Holding SA now owns 8,530 shares of the specialty retailer's stock worth $690,000 after acquiring an additional 672 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in ACM Research during the third quarter worth about $405,000. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in ACM Research during the third quarter worth about $486,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ACMR. Daiwa Securities Group assumed coverage on ACM Research in a report on Wednesday, August 26th. They issued a "buy" rating and a $136.00 price objective on the stock. Zacks Research cut ACM Research from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. Craig Hallum reiterated a "buy" rating and set a $100.00 target price on shares of ACM Research in a report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of ACM Research from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $122.75.

ACM Research Trading Up 11.5%

Shares of ACMR opened at $49.75 on Tuesday. The stock's 50-day moving average is $64.42 and its two-hundred day moving average is $68.36. The stock has a market cap of $3.22 billion, a PE ratio of 31.09 and a beta of 2.27. 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.

ACM Research (NASDAQ:ACMR - Get Free Report) last issued its earnings results on Thursday, November 5th. The specialty retailer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. ACM Research had a return on equity of 4.08% and a net margin of 14.48%. The company had revenue of $367.69 million during the quarter, compared to the consensus estimate of $310.56 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company's revenue was up 36.6% compared to the same quarter last year. Equities analysts forecast that ACM Research, Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Activity at ACM Research

In other ACM Research news, Director Haiping Dun sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 5,000 shares in the company, valued at $405,650. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Wang sold 70,000 shares of the company's stock in a transaction that occurred 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 owned 802,708 shares of the company's stock, valued at approximately $59,873,989.72. This represents a 8.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 24.36% of the company's stock.

ACM Research Company Profile

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor fabrication and advanced packaging. Its products support wafer processing, where precision cleaning and other treatment steps help prepare semiconductor wafers during production.

The company's portfolio includes single-wafer wet-cleaning equipment, electroplating systems, stress-free polishing tools and furnaces, as well as equipment for advanced packaging applications. Its cleaning technologies are designed to remove particles and contaminants from wafers.

Founded in 1998, ACM Research is headquartered in Fremont, California, and has a significant operating presence in China.

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