Broad Bay Capital Management LP Buys New Stake in ACM Research, Inc. $ACMR

Key Points

• Broad Bay Capital Management LP invested approximately $21.13 million in ACM Research, acquiring 905,494 shares and making up about 3.1% of their portfolio.
• ACM Research recently reported earnings of $0.54 EPS, exceeding analysts' estimates, with a quarterly revenue of $215.37 million, up 6.4% from the previous year.
• Insider trading has been notable, with insiders selling a total of 116,152 shares valued at approximately $3.45 million in the last three months.

Broad Bay Capital Management LP bought a new position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 905,494 shares of the specialty retailer's stock, valued at approximately $21,134,000. ACM Research comprises 3.1% of Broad Bay Capital Management LP's portfolio, making the stock its 14th biggest position. Broad Bay Capital Management LP owned about 1.54% of ACM Research at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV bought a new stake in ACM Research in the first quarter worth $29,000. Tower Research Capital LLC TRC lifted its position in shares of 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 worth $30,000 after purchasing an additional 1,685 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in ACM Research by 871.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,673 shares of the specialty retailer's stock worth $109,000 after acquiring an additional 4,192 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of ACM Research during the first quarter valued at $114,000. Finally, Palouse Capital Management Inc. increased its stake in shares of ACM Research by 76.0% during the first quarter. Palouse Capital Management Inc. now owns 5,115 shares of the specialty retailer's stock valued at $119,000 after buying an additional 2,208 shares during the period. Institutional investors own 66.75% of the company's stock.

ACM Research Stock Down 2.3%

ACMR stock traded down $0.65 during trading on Tuesday, reaching $27.57. 1,006,611 shares of the company traded hands, compared to its average volume of 1,440,062. ACM Research, Inc. has a 12 month low of $13.87 and a 12 month high of $32.54. The business has a 50 day simple moving average of $28.00 and a 200 day simple moving average of $25.12. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 16.71 and a beta of 1.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.49 and a current ratio of 2.45.

ACM Research (NASDAQ:ACMR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The specialty retailer reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The firm had revenue of $215.37 million for the quarter, compared to the consensus estimate of $223.42 million. ACM Research had a return on equity of 9.57% and a net margin of 13.76%.The company's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities research analysts anticipate that ACM Research, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Lisa Feng sold 15,000 shares of ACM Research stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $28.00, for a total transaction of $420,000.00. Following the sale, the insider owned 50,001 shares of the company's stock, valued at approximately $1,400,028. The trade was a 23.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sotheara Cheav sold 11,152 shares of ACM Research stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $334,560.00. Following the sale, the insider directly owned 100,002 shares in the company, valued at approximately $3,000,060. The trade was a 10.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,152 shares of company stock valued at $3,454,560. 25.00% of the stock is currently owned by company insiders.

About ACM Research

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.