Ameriprise Financial Inc. trimmed its holdings in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,601 shares of the specialty retailer's stock after selling 17,138 shares during the period. Ameriprise Financial Inc. owned about 0.33% of ACM Research worth $2,833,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in ACM Research by 506.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer's stock valued at $30,000 after buying an additional 1,685 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ACM Research during the 4th quarter valued at approximately $33,000. Picton Mahoney Asset Management increased its stake in shares of ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock worth $47,000 after purchasing an additional 1,236 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of ACM Research by 42.0% during the 4th quarter. Federated Hermes Inc. now owns 8,270 shares of the specialty retailer's stock worth $125,000 after purchasing an additional 2,447 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of ACM Research in the 4th quarter worth approximately $162,000. 66.75% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on ACMR. Craig Hallum raised ACM Research from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. started coverage on ACM Research in a research report on Friday, February 28th. They set an "overweight" rating and a $36.00 price target on the stock. Finally, Needham & Company LLC reissued a "hold" rating on shares of ACM Research in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.40.
Get Our Latest Stock Analysis on ACM Research
ACM Research Stock Performance
ACM Research stock traded down $0.61 during mid-day trading on Friday, reaching $22.38. The company's stock had a trading volume of 828,090 shares, compared to its average volume of 1,486,546. The firm's fifty day moving average price is $21.56 and its two-hundred day moving average price is $20.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. ACM Research, Inc. has a 12-month low of $13.87 and a 12-month high of $30.64. The company has a market capitalization of $1.32 billion, a P/E ratio of 16.95 and a beta of 1.57.
Insiders Place Their Bets
In related news, Director Haiping Dun sold 9,518 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $29.00, for a total transaction of $276,022.00. Following the sale, the director now owns 755,090 shares of the company's stock, valued at approximately $21,897,610. This represents a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David H. Wang sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $22.63, for a total transaction of $1,357,800.00. Following the completion of the sale, the insider now owns 672,708 shares in the company, valued at $15,223,382.04. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 396,576 shares of company stock worth $10,703,375 in the last quarter. 25.00% of the stock is owned by company insiders.
ACM Research Profile
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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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