Steamboat Capital Partners LLC Has $11.31 Million Position in ACM Research, Inc. (NASDAQ:ACMR)

Steamboat Capital Partners LLC cut its holdings in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 23.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 748,925 shares of the specialty retailer's stock after selling 230,083 shares during the quarter. ACM Research accounts for about 3.5% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 9th largest holding. Steamboat Capital Partners LLC owned 1.30% of ACM Research worth $11,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Kerrisdale Advisers LLC lifted its holdings in shares of ACM Research by 550.8% during the 4th quarter. Kerrisdale Advisers LLC now owns 1,948,003 shares of the specialty retailer's stock valued at $29,415,000 after buying an additional 1,648,685 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of ACM Research by 2,258.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,469,271 shares of the specialty retailer's stock valued at $22,171,000 after acquiring an additional 1,406,968 shares in the last quarter. Panview Capital Ltd bought a new position in shares of ACM Research in the 4th quarter valued at approximately $20,758,000. Raiffeisen Bank International AG acquired a new position in ACM Research during the 4th quarter valued at $10,549,000. Finally, SG Americas Securities LLC bought a new position in shares of ACM Research during the 4th quarter worth about $5,782,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACMR has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on ACM Research in a research report on Friday, February 28th. They set an "overweight" rating and a $36.00 price objective on the stock. Craig Hallum upgraded ACM Research from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a "hold" rating on shares of ACM Research in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.40.

ACM Research Price Performance

ACM Research stock traded down $1.25 on Wednesday, reaching $23.03. The company's stock had a trading volume of 1,254,082 shares, compared to its average volume of 1,491,356. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 17.45 and a beta of 1.57. The business's fifty day moving average price is $22.38 and its 200 day moving average price is $20.46. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $30.64.

Insiders Place Their Bets

In other news, Director Chenming Hu sold 163,308 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the transaction, the director now owns 100,002 shares of the company's stock, valued at $3,000,060. This represents a 62.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David H. Wang sold 37,500 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $27.30, for a total value of $1,023,750.00. Following the transaction, the insider now directly owns 672,708 shares in the company, valued at $18,364,928.40. This trade represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 266,576 shares of company stock valued at $7,693,575. 25.00% of the stock is currently owned by corporate insiders.

ACM Research 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.