Matthews International Capital Management LLC decreased its stake in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,226 shares of the specialty retailer's stock after selling 14,225 shares during the period. ACM Research accounts for 1.2% of Matthews International Capital Management LLC's investment portfolio, making the stock its 19th largest holding. Matthews International Capital Management LLC owned about 0.43% of ACM Research worth $5,794,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cim LLC lifted its holdings in shares of ACM Research by 2.8% during the fourth quarter. Cim LLC now owns 17,149 shares of the specialty retailer's stock worth $259,000 after purchasing an additional 475 shares during the period. Rhumbline Advisers grew its position in ACM Research by 0.8% during the fourth quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer's stock worth $1,113,000 after buying an additional 589 shares during the period. NorthCrest Asset Manangement LLC grew its position in ACM Research by 1.9% during the first quarter. NorthCrest Asset Manangement LLC now owns 34,037 shares of the specialty retailer's stock worth $794,000 after buying an additional 647 shares during the period. Arizona State Retirement System increased its holdings in ACM Research by 7.3% in the fourth quarter. Arizona State Retirement System now owns 14,964 shares of the specialty retailer's stock valued at $226,000 after buying an additional 1,017 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ACM Research by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,996 shares of the specialty retailer's stock valued at $438,000 after acquiring an additional 1,061 shares during the period. 66.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on ACMR. Needham & Company LLC reaffirmed a "hold" rating on shares of ACM Research in a research note on Thursday, February 27th. JPMorgan Chase & Co. initiated coverage on ACM Research in a research note on Friday, February 28th. They set an "overweight" rating and a $36.00 price target for the company. Finally, Craig Hallum raised shares of ACM Research from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, ACM Research presently has an average rating of "Moderate Buy" and a consensus target price of $29.40.
Read Our Latest Analysis on ACMR
ACM Research Price Performance
Shares of ACMR traded down $0.01 during trading hours on Thursday, reaching $25.19. 880,374 shares of the company traded hands, compared to its average volume of 1,463,047. The stock has a market capitalization of $1.48 billion, a PE ratio of 16.15 and a beta of 1.48. The stock has a fifty day simple moving average of $22.31 and a 200 day simple moving average of $21.28. ACM Research, Inc. has a fifty-two week low of $13.87 and a fifty-two week high of $30.64. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.12.
Insider Activity at ACM Research
In related news, insider David H. Wang sold 70,000 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $23.60, for a total value of $1,652,000.00. Following the transaction, the insider now directly owns 672,708 shares of the company's stock, valued at approximately $15,875,908.80. This trade represents a 9.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 25.00% of the company's stock.
About ACM Research
(
Free Report)
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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