Bank of New York Mellon Corp Invests $41.40 Million in ACM Research, Inc. $ACMR

Key Points

• Bank of New York Mellon acquired 326,284 ACM Research shares worth approximately $41.4 million, taking a 0.53% stake. Institutional investors and hedge funds collectively own 66.75% of the company.
• Analyst sentiment remains positive: ACM Research has a consensus “Buy” rating and an average price target of $122.75, with Morgan Stanley raising its target to $130.
• ACM Research beat quarterly expectations, reporting $0.61 in EPS versus $0.42 expected and revenue of $292.92 million, up 36% year over year. The stock opened at $74.42, down 7.5%.

Bank of New York Mellon Corp acquired a new position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 326,284 shares of the specialty retailer's stock, valued at approximately $41,402,000. Bank of New York Mellon Corp owned 0.53% of ACM Research at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Contravisory Investment Management Inc. grew its position in shares of ACM Research by 2.3% in the second quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the specialty retailer's stock valued at $662,000 after purchasing an additional 115 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of ACM Research by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,764 shares of the specialty retailer's stock worth $306,000 after purchasing an additional 168 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of ACM Research by 14.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer's stock worth $183,000 after purchasing an additional 182 shares during the last quarter. MML Investors Services LLC boosted its stake in ACM Research by 1.0% during the 4th quarter. MML Investors Services LLC now owns 22,851 shares of the specialty retailer's stock valued at $901,000 after purchasing an additional 217 shares during the period. Finally, First Growth Capital LLC boosted its stake in ACM Research by 5.4% during the 1st quarter. First Growth Capital LLC now owns 5,598 shares of the specialty retailer's stock valued at $226,000 after purchasing an additional 285 shares during the period. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on ACMR shares. Zacks Research raised ACM Research from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Roth Capital set a $125.00 price objective on shares of ACM Research and gave the stock a "buy" rating in a research note on Wednesday, June 17th. Morgan Stanley reaffirmed an "overweight" rating and set a $130.00 target price (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Craig Hallum reiterated a "buy" rating and set a $100.00 target price on shares of ACM Research in a research note on Monday, August 10th. Finally, Wall Street Zen raised shares of ACM Research from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $122.75.

ACM Research Stock Down 7.5%

NASDAQ:ACMR opened at $74.42 on Friday. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 35.44 and a beta of 1.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66. The stock's fifty day moving average price is $88.88 and its two-hundred day moving average price is $71.10. ACM Research, Inc. has a 52-week low of $26.10 and a 52-week high of $127.19.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.19. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The company had revenue of $292.92 million during the quarter, compared to the consensus estimate of $269.28 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm's quarterly revenue was up 36.0% on a year-over-year basis. On average, analysts anticipate that ACM Research, Inc. will post 1.68 EPS for the current year.

Insider Buying and Selling

In other ACM Research news, insider David H. Wang sold 40,002 shares of ACM Research stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $85.80, for a total transaction of $3,432,171.60. Following the completion of the sale, the insider owned 802,708 shares of the company's stock, valued at approximately $68,872,346.40. The trade was a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sotheara Cheav sold 5,399 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $83.18, for a total transaction of $449,088.82. Following the sale, the insider owned 100,002 shares of the company's stock, valued at $8,318,166.36. The trade was a 5.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,752 shares of company stock valued at $10,826,748 over the last ninety days. Insiders own 24.36% of the company's stock.

About ACM Research

ACM Research, Inc NASDAQ: ACMR designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.

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