NorthCrest Asset Manangement LLC Sells 7,765 Shares of ACM Research, Inc. $ACMR

Key Points

• NorthCrest Asset Management LLC reduced its holdings in ACM Research, Inc. by 22.8%, selling 7,765 shares, bringing their total to 26,272 shares valued at $731,000.
• Insider trades showed a significant decrease in ownership, with David H. Wang and Lisa Feng selling a combined total of 75,000 shares in recent months.
• ACM Research reported earnings of $0.54 per share for the last quarter, exceeding analysts' expectations, along with a revenue of $215.37 million, which was below the forecast at $223.42 million.

NorthCrest Asset Manangement LLC lowered its position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 22.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,272 shares of the specialty retailer's stock after selling 7,765 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in ACM Research were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ACMR. KBC Group NV bought a new position in shares of ACM Research during the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its position in shares of ACM Research by 871.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,673 shares of the specialty retailer's stock worth $109,000 after buying an additional 4,192 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of ACM Research during the 1st quarter worth approximately $114,000. Palouse Capital Management Inc. increased its stake in shares of ACM Research by 76.0% during the 1st quarter. Palouse Capital Management Inc. now owns 5,115 shares of the specialty retailer's stock worth $119,000 after purchasing an additional 2,208 shares during the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of ACM Research during the 1st quarter worth approximately $123,000. Institutional investors own 66.75% of the company's stock.

Insider Transactions at ACM Research

In other news, insider Jian Wang sold 30,000 shares of ACM Research stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.00, for a total transaction of $960,000.00. Following the completion of the sale, the insider directly owned 253,158 shares of the company's stock, valued at approximately $8,101,056. The trade was a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tracy Liu sold 15,000 shares of ACM Research stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $33.00, for a total transaction of $495,000.00. Following the sale, the director directly owned 110,772 shares of the company's stock, valued at $3,655,476. This represents a 11.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,152 shares of company stock worth $8,419,160. 25.00% of the stock is owned by corporate insiders.

ACM Research Stock Performance

Shares of ACMR stock traded up $2.43 during trading hours on Tuesday, hitting $39.11. 2,790,818 shares of the company were exchanged, compared to its average volume of 1,475,037. The firm has a fifty day simple moving average of $28.86 and a 200 day simple moving average of $25.62. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 0.14. ACM Research, Inc. has a 52-week low of $13.87 and a 52-week high of $39.85. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 23.69 and a beta of 1.44.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.12. ACM Research had a net margin of 13.76% and a return on equity of 9.57%. The business had revenue of $215.37 million during the quarter, compared to analyst estimates of $223.42 million. During the same period in the previous year, the business earned $0.55 EPS. ACM Research's revenue was up 6.4% compared to the same quarter last year. Research analysts predict that ACM Research, Inc. will post 1.17 earnings per share for the current fiscal year.

ACM Research Company Profile

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.