Pinpoint Asset Management Ltd Grows Stake in ACM Research, Inc. (NASDAQ:ACMR)

Key Points

• Pinpoint Asset Management Ltd increased its stake in ACM Research, Inc. by 14.4% during the first quarter, resulting in ownership of 122,428 shares worth approximately $2.86 million.
• ACM Research's latest earnings report showed an EPS of $0.54, exceeding estimates and indicating a 6.4% revenue increase compared to the same quarter last year.
• Insiders at ACM Research have sold a total of 175,000 shares valued at over $4.26 million in the last ninety days, with 25% of the stock currently owned by insiders.

Pinpoint Asset Management Ltd raised its stake in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,428 shares of the specialty retailer's stock after buying an additional 15,382 shares during the quarter. ACM Research comprises approximately 0.5% of Pinpoint Asset Management Ltd's holdings, making the stock its 24th largest position. Pinpoint Asset Management Ltd owned about 0.21% of ACM Research worth $2,857,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in ACM Research by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,201,403 shares of the specialty retailer's stock valued at $63,441,000 after buying an additional 67,255 shares in the last quarter. Kerrisdale Advisers LLC grew its holdings in ACM Research by 550.8% during the 4th quarter. Kerrisdale Advisers LLC now owns 1,948,003 shares of the specialty retailer's stock valued at $29,415,000 after buying an additional 1,648,685 shares in the last quarter. Geode Capital Management LLC grew its holdings in ACM Research by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,184,872 shares of the specialty retailer's stock valued at $17,896,000 after buying an additional 4,131 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ACM Research by 1,418.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,174,720 shares of the specialty retailer's stock valued at $17,738,000 after buying an additional 1,097,358 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in ACM Research by 12,871.6% during the 1st quarter. Federated Hermes Inc. now owns 1,072,752 shares of the specialty retailer's stock valued at $25,038,000 after buying an additional 1,064,482 shares in the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider David H. Wang sold 60,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $22.63, for a total transaction of $1,357,800.00. Following the completion of the sale, the insider directly owned 672,708 shares of the company's stock, valued at approximately $15,223,382.04. This trade represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tracy Liu sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $30.00, for a total value of $450,000.00. Following the sale, the director directly owned 110,772 shares of the company's stock, valued at $3,323,160. This represents a 11.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $4,269,800 in the last ninety days. Insiders own 25.00% of the company's stock.

ACM Research Price Performance

NASDAQ ACMR traded down $0.33 during trading on Friday, hitting $23.94. 1,511,609 shares of the stock traded hands, compared to its average volume of 1,182,997. The company has a market capitalization of $1.41 billion, a P/E ratio of 14.51 and a beta of 1.36. The firm has a 50-day simple moving average of $27.29 and a 200-day simple moving average of $24.38. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.12. ACM Research, Inc. has a 12-month low of $13.87 and a 12-month high of $32.54.

ACM Research (NASDAQ:ACMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $215.37 million during the quarter, compared to analyst estimates of $223.42 million. ACM Research had a return on equity of 9.75% and a net margin of 13.76%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. As a group, analysts predict that ACM Research, Inc. will post 1.17 EPS for the current year.

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.