Capelight Capital Asset Management LP Sells 20,000 Shares of ACM Research, Inc. $ACMR

Key Points

• Capelight Capital Asset Management reduced its ACM Research stake by 40% in the first quarter, selling 20,000 shares and leaving it with 30,000 shares valued at about $1.18 million.
• Analyst sentiment is mixed but constructive: recent ratings include a new $75 buy target from Seaport Research Partners and a higher $130 target from Morgan Stanley, with consensus at a “Moderate Buy” and an average target of $127.50.
• Insider selling has also been notable, including sales by Director Haiping Dun and insider David H. Wang, while ACM Research’s latest earnings beat expectations with stronger-than-expected revenue and EPS growth.

Capelight Capital Asset Management LP cut its holdings in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 40.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the specialty retailer's stock after selling 20,000 shares during the quarter. ACM Research makes up about 0.8% of Capelight Capital Asset Management LP's holdings, making the stock its 28th biggest holding. Capelight Capital Asset Management LP's holdings in ACM Research were worth $1,180,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ACMR. Y Intercept Hong Kong Ltd purchased a new stake in shares of ACM Research in the 1st quarter worth approximately $2,999,000. Strs Ohio boosted its holdings in ACM Research by 131.3% in the first quarter. Strs Ohio now owns 15,500 shares of the specialty retailer's stock worth $610,000 after acquiring an additional 8,800 shares in the last quarter. Inspire Investing LLC boosted its holdings in ACM Research by 16.3% in the first quarter. Inspire Investing LLC now owns 62,712 shares of the specialty retailer's stock worth $2,468,000 after acquiring an additional 8,780 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of ACM Research in the first quarter worth $929,000. Finally, Fund Advisors of America Inc FL purchased a new stake in shares of ACM Research in the fourth quarter worth $339,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACMR has been the subject of several recent analyst reports. Weiss Ratings raised ACM Research from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Seaport Research Partners started coverage on shares of ACM Research in a research note on Monday, May 4th. They set a "buy" rating and a $75.00 price objective for the company. Zacks Research cut shares of ACM Research from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Wall Street Zen upgraded shares of ACM Research from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $127.50.

Insider Activity at ACM Research

In related news, Director Haiping Dun sold 5,000 shares of ACM Research stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total value of $331,100.00. Following the completion of the sale, the director owned 5,000 shares of the company's stock, valued at $331,100. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David H. Wang sold 40,002 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $85.80, for a total value of $3,432,171.60. Following the sale, the insider owned 802,708 shares of the company's stock, valued at approximately $68,872,346.40. This trade represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 128,752 shares of company stock valued at $11,012,198 in the last quarter. 24.36% of the stock is currently owned by corporate insiders.

ACM Research Stock Performance

Shares of ACMR stock opened at $97.77 on Friday. The company has a 50 day moving average price of $80.47 and a 200-day moving average price of $60.75. ACM Research, Inc. has a 52 week low of $23.03 and a 52 week high of $127.19. The firm has a market capitalization of $5.99 billion, a PE ratio of 74.63 and a beta of 1.90. The company has a quick ratio of 2.52, a current ratio of 3.51 and a debt-to-equity ratio of 0.11.

ACM Research (NASDAQ:ACMR - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.08. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The company had revenue of $231.26 million for the quarter, compared to the consensus estimate of $215.69 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The firm's revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, equities research analysts expect that ACM Research, Inc. will post 1.02 earnings per share for the current year.

ACM Research Company Profile

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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