Millennium Management LLC Sells 471,212 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Millennium Management LLC reduced its holdings in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 94.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,983 shares of the specialty retailer's stock after selling 471,212 shares during the period. Millennium Management LLC's holdings in ACM Research were worth $392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ACM Research by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,996 shares of the specialty retailer's stock valued at $438,000 after acquiring an additional 1,061 shares during the last quarter. Janus Henderson Group PLC grew its stake in ACM Research by 29.8% in the fourth quarter. Janus Henderson Group PLC now owns 152,005 shares of the specialty retailer's stock valued at $2,295,000 after purchasing an additional 34,880 shares in the last quarter. Deutsche Bank AG increased its position in shares of ACM Research by 22.9% during the 4th quarter. Deutsche Bank AG now owns 282,915 shares of the specialty retailer's stock worth $4,272,000 after purchasing an additional 52,716 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of ACM Research during the 4th quarter worth approximately $165,000. Finally, Bridgefront Capital LLC bought a new stake in shares of ACM Research during the 4th quarter worth approximately $191,000. 66.75% of the stock is owned by institutional investors.

Insider Activity at ACM Research

In other ACM Research news, insider David H. Wang sold 37,500 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $27.30, for a total transaction of $1,023,750.00. Following the transaction, the insider now owns 672,708 shares in the company, valued at $18,364,928.40. This represents a 5.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Chenming Hu sold 163,308 shares of ACM Research stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.00, for a total value of $4,899,240.00. Following the completion of the transaction, the director now directly owns 100,002 shares of the company's stock, valued at $3,000,060. This represents a 62.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 340,326 shares of company stock worth $9,208,812. Insiders own 25.00% of the company's stock.

ACM Research Stock Performance

Shares of ACMR stock traded up $0.36 during trading on Tuesday, reaching $25.38. 915,023 shares of the company's stock were exchanged, compared to its average volume of 1,598,188. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average price is $21.41 and its 200-day moving average price is $20.88. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $30.64. The stock has a market capitalization of $1.49 billion, a PE ratio of 19.23 and a beta of 1.48.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Craig Hallum raised shares of ACM Research from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. began coverage on shares of ACM Research in a research note on Friday, February 28th. They issued an "overweight" rating and a $36.00 price target for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of ACM Research in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

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.