Lazard Asset Management LLC Takes $1.69 Million Position in ACM Research, Inc. $ACMR

Key Points

• Lazard Asset Management initiated a $1.69 million position in ACM Research, buying 43,034 shares and joining other institutions that increased their exposure. Institutional investors now own 66.75% of the company.
• ACM Research insiders sold 123,752 shares worth approximately $10.75 million over the past three months, including director and insider sales disclosed in recent SEC filings.
• Analyst sentiment remains moderately bullish, with an average rating of “Moderate Buy” and a $127.50 price target. The company also exceeded quarterly expectations, reporting $0.34 in adjusted earnings per share and $231.26 million in revenue, up 34.2% year over year.

Lazard Asset Management LLC purchased a new stake in ACM Research, Inc. (NASDAQ:ACMR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 43,034 shares of the specialty retailer's stock, valued at approximately $1,693,000. Lazard Asset Management LLC owned 0.07% of ACM Research as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ACMR. Cypress Capital Group bought a new stake in ACM Research during the 1st quarter valued at $623,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ACM Research during the 1st quarter worth $2,249,000. Public Employees Retirement System of Ohio purchased a new position in shares of ACM Research during the first quarter valued at $1,025,000. Inceptionr LLC purchased a new position in shares of ACM Research during the first quarter valued at $244,000. Finally, Sei Investments Co. raised its holdings in shares of ACM Research by 45.4% in the first quarter. Sei Investments Co. now owns 85,005 shares of the specialty retailer's stock valued at $3,345,000 after acquiring an additional 26,560 shares in the last quarter. Institutional investors own 66.75% of the company's stock.

Insider Activity at ACM Research

In other news, Director Haiping Dun sold 5,000 shares of ACM Research stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $66.22, for a total transaction of $331,100.00. Following the completion of the sale, the director directly owned 5,000 shares in the company, valued at approximately $331,100. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sotheara Cheav sold 13,351 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $85.15, for a total transaction of $1,136,837.65. Following the sale, the insider directly owned 100,002 shares in the company, valued at $8,515,170.30. This trade represents a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 123,752 shares of company stock valued at $10,752,198 in the last three months. 24.36% of the stock is owned by insiders.

Analysts Set New Price Targets

ACMR has been the subject of a number of research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $130.00 price objective (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of ACM Research from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Roth Capital set a $125.00 price target on shares of ACM Research and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Zacks Research downgraded shares of ACM Research from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of ACM Research in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $127.50.

ACM Research Trading Up 0.2%

Shares of NASDAQ:ACMR opened at $78.64 on Tuesday. The business's 50-day moving average is $92.67 and its 200 day moving average is $67.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 2.52. ACM Research, Inc. has a 1 year low of $23.03 and a 1 year high of $127.19. The firm has a market capitalization of $4.82 billion, a P/E ratio of 60.03 and a beta of 1.96.

ACM Research (NASDAQ:ACMR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. ACM Research had a return on equity of 4.17% and a net margin of 9.48%.The business had revenue of $231.26 million during the quarter, compared to the consensus estimate of $215.69 million. During the same quarter last year, the company earned $0.46 earnings per share. The company's quarterly revenue was up 34.2% on a year-over-year basis. On average, research analysts predict that ACM Research, Inc. will post 1.02 earnings per share for the current fiscal 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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