JPMorgan Chase & Co. Sells 110,697 Shares of ACM Research, Inc. (NASDAQ:ACMR)

JPMorgan Chase & Co. reduced its position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 82.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,474 shares of the specialty retailer's stock after selling 110,697 shares during the period. JPMorgan Chase & Co.'s holdings in ACM Research were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC lifted its holdings in shares of ACM Research by 63.3% during the third quarter. Barclays PLC now owns 137,584 shares of the specialty retailer's stock worth $2,793,000 after buying an additional 53,319 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in ACM Research by 23.1% during the 4th quarter. Harbour Capital Advisors LLC now owns 19,325 shares of the specialty retailer's stock valued at $300,000 after purchasing an additional 3,625 shares during the last quarter. SG Americas Securities LLC bought a new stake in ACM Research in the 4th quarter valued at $5,782,000. Janney Montgomery Scott LLC grew its position in ACM Research by 35.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer's stock worth $1,067,000 after purchasing an additional 18,617 shares during the last quarter. Finally, FCG Investment Co increased its holdings in shares of ACM Research by 11.7% during the 4th quarter. FCG Investment Co now owns 19,782 shares of the specialty retailer's stock worth $299,000 after purchasing an additional 2,066 shares during the period. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACMR has been the topic of a number of recent research reports. Needham & Company LLC reissued a "hold" rating on shares of ACM Research in a research report on Thursday, February 27th. Craig Hallum upgraded ACM Research from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. started coverage on shares of ACM Research in a report on Friday, February 28th. They issued an "overweight" rating and a $36.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.40.

ACM Research Price Performance

Shares of NASDAQ ACMR traded up $0.81 during mid-day trading on Thursday, hitting $20.84. 411,963 shares of the stock were exchanged, compared to its average volume of 1,483,776. The stock's fifty day simple moving average is $22.96 and its two-hundred day simple moving average is $20.15. ACM Research, Inc. has a twelve month low of $13.87 and a twelve month high of $30.64. The company has a market cap of $1.23 billion, a P/E ratio of 15.79 and a beta of 1.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

Insiders Place Their Bets

In related news, Director Haiping Dun sold 9,518 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $29.00, for a total value of $276,022.00. Following the completion of the sale, the director now owns 755,090 shares of the company's stock, valued at $21,897,610. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chenming Hu sold 163,308 shares of the 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 owns 100,002 shares in the company, valued at $3,000,060. The trade was a 62.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 266,576 shares of company stock valued at $7,693,575 in the last 90 days. 31.24% of the stock is currently owned by insiders.

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.