Perigon Wealth Management LLC Makes New $259,000 Investment in ACM Research, Inc. $ACMR

Key Points

• Perigon Wealth Management LLC invested approximately $259,000 in ACM Research, acquiring 10,019 shares in the 2nd quarter of 2023.
• A significant increase in holdings was seen with Federated Hermes Inc., which boosted its stake in ACM Research by 12,871.6% in Q1, now owning over 1 million shares valued at about $25 million.
• Analysts maintain a consensus rating of "Moderate Buy" for ACM Research, with Roth Capital raising the price target to $50.00 from $40.00.

Perigon Wealth Management LLC bought a new stake in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,019 shares of the specialty retailer's stock, valued at approximately $259,000.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. boosted its holdings in ACM Research by 12,871.6% in the first quarter. Federated Hermes Inc. now owns 1,072,752 shares of the specialty retailer's stock valued at $25,038,000 after purchasing an additional 1,064,482 shares during the last quarter. Broad Bay Capital Management LP purchased a new position in shares of ACM Research during the 1st quarter valued at approximately $21,134,000. Triata Capital Ltd grew its position in shares of ACM Research by 33.5% during the first quarter. Triata Capital Ltd now owns 1,371,125 shares of the specialty retailer's stock worth $32,002,000 after buying an additional 344,158 shares in the last quarter. Amundi bought a new stake in shares of ACM Research in the first quarter worth $7,545,000. Finally, Invesco Ltd. increased its stake in shares of ACM Research by 18.2% in the first quarter. Invesco Ltd. now owns 1,339,102 shares of the specialty retailer's stock worth $31,255,000 after buying an additional 206,149 shares during the last quarter. Institutional investors and hedge funds own 66.75% of the company's stock.

Insiders Place Their Bets

In related news, insider David H. Wang sold 70,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $26.76, for a total transaction of $1,873,200.00. Following the completion of the sale, the insider owned 672,708 shares of the company's stock, valued at $18,001,666.08. This represents a 9.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tracy Liu sold 15,000 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $33.00, for a total transaction of $495,000.00. Following the completion of the transaction, the director directly owned 110,772 shares in the company, valued at $3,655,476. This represents a 11.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 286,152 shares of company stock worth $8,419,160. Corporate insiders own 25.00% of the company's stock.

ACM Research Price Performance

Shares of NASDAQ ACMR opened at $39.13 on Wednesday. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 23.72 and a beta of 1.43. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $40.10. The business has a 50 day simple moving average of $29.89 and a 200-day simple moving average of $26.09.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.54 EPS for the quarter, topping 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 firm had revenue of $215.37 million during the quarter, compared to the consensus estimate of $223.42 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The firm's revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that ACM Research, Inc. will post 1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Capital reiterated a "buy" rating and set a $50.00 price objective (up from $40.00) on shares of ACM Research in a research note on Monday. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $32.25.

ACM Research 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.

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