Summit Global Investments Invests $338,000 in ACM Research, Inc. $ACMR

Summit Global Investments bought a new stake in ACM Research, Inc. (NASDAQ:ACMR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,592 shares of the specialty retailer’s stock, valued at approximately $338,000.

Several other large investors have also recently added to or reduced their stakes in ACMR. WCM Investment Management LLC boosted its holdings in ACM Research by 16,878.8% in the 1st quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock valued at $70,583,000 after purchasing an additional 1,849,914 shares in the last quarter. Invesco Ltd. increased its position in ACM Research by 444.5% during the 4th quarter. Invesco Ltd. now owns 1,342,136 shares of the specialty retailer’s stock worth $52,947,000 after purchasing an additional 1,095,634 shares during the period. Janus Henderson Group PLC raised its stake in shares of ACM Research by 1,406.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,082,982 shares of the specialty retailer’s stock worth $42,740,000 after buying an additional 1,011,088 shares in the last quarter. Morgan Stanley raised its stake in shares of ACM Research by 58.8% during the 4th quarter. Morgan Stanley now owns 1,392,306 shares of the specialty retailer’s stock worth $54,926,000 after buying an additional 515,340 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of ACM Research by 207.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock valued at $28,286,000 after buying an additional 485,282 shares during the period. 66.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ACMR shares. Wall Street Zen raised ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Seaport Research Partners started coverage on ACM Research in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 target price for the company. Roth Capital set a $125.00 target price on shares of ACM Research and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Finally, Zacks Research cut shares of ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, ACM Research presently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

Insider Activity

In other ACM Research news, insider Sotheara Cheav sold 5,399 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $83.18, for a total transaction of $449,088.82. Following the sale, the insider owned 100,002 shares in the company, valued at approximately $8,318,166.36. This represents a 5.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total value of $331,100.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $331,100. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 123,752 shares of company stock worth $10,752,198 over the last ninety days. 24.36% of the stock is currently owned by insiders.

ACM Research Trading Down 1.2%

NASDAQ:ACMR opened at $88.42 on Friday. ACM Research, Inc. has a 52-week low of $23.03 and a 52-week high of $127.19. The company has a quick ratio of 2.52, a current ratio of 3.51 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $91.59 and a 200-day simple moving average of $66.46. The company has a market capitalization of $5.41 billion, a PE ratio of 67.50 and a beta of 1.90.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Thursday, May 7th. The specialty retailer reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The firm had revenue of $231.26 million for the quarter, compared to analysts’ expectations of $215.69 million. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. On average, equities research analysts expect that ACM Research, Inc. will post 1.02 earnings per share for the current fiscal year.

ACM Research Company Profile

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.