Wells Fargo & Company MN Lowers Holdings in ACM Research, Inc. (NASDAQ:ACMR)

Wells Fargo & Company MN decreased its position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 28.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,891 shares of the specialty retailer's stock after selling 13,426 shares during the period. Wells Fargo & Company MN owned about 0.06% of ACM Research worth $512,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ACMR. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of ACM Research by 2,258.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,469,271 shares of the specialty retailer's stock valued at $22,171,000 after purchasing an additional 1,406,968 shares during the last quarter. Panview Capital Ltd purchased a new position in ACM Research during the fourth quarter valued at $20,758,000. SG Americas Securities LLC bought a new stake in ACM Research in the fourth quarter worth $5,782,000. Trexquant Investment LP boosted its holdings in ACM Research by 110.4% in the fourth quarter. Trexquant Investment LP now owns 572,870 shares of the specialty retailer's stock worth $8,650,000 after acquiring an additional 300,622 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of ACM Research in the fourth quarter worth $4,379,000. Institutional investors own 66.75% of the company's stock.

Insider Buying and Selling

In other news, insider Sotheara Cheav sold 22,598 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the transaction, the insider now directly owns 100,002 shares in the company, valued at $2,300,046. This trade represents a 18.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David H. Wang sold 56,250 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $26.57, for a total value of $1,494,562.50. Following the sale, the insider now owns 747,708 shares of the company's stock, valued at approximately $19,866,601.56. This trade represents a 7.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,174 shares of company stock worth $8,213,329. 31.24% of the stock is owned by insiders.

ACM Research Stock Performance

Shares of NASDAQ ACMR traded up $0.45 during trading on Wednesday, reaching $20.03. 1,305,477 shares of the company traded hands, compared to its average volume of 1,486,506. 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 has a 50 day simple moving average of $23.07 and a 200-day simple moving average of $20.16. ACM Research, Inc. has a 52-week low of $13.87 and a 52-week high of $30.64. The stock has a market capitalization of $1.18 billion, a PE ratio of 15.17 and a beta of 1.57.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ACMR shares. JPMorgan Chase & Co. initiated 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 on the stock. Needham & Company LLC reiterated a "hold" rating on shares of ACM Research in a report on Thursday, February 27th. Finally, Craig Hallum upgraded shares of ACM Research from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.