Steamboat Capital Partners LLC Sells 230,083 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Steamboat Capital Partners LLC decreased its position in shares of ACM Research, Inc. (NASDAQ:ACMR) by 23.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 748,925 shares of the specialty retailer’s stock after selling 230,083 shares during the quarter. ACM Research makes up about 3.5% of Steamboat Capital Partners LLC’s portfolio, making the stock its 9th biggest holding. Steamboat Capital Partners LLC’s holdings in ACM Research were worth $11,309,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sherbrooke Park Advisers LLC boosted its position in shares of ACM Research by 10.7% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 14,122 shares of the specialty retailer’s stock valued at $213,000 after acquiring an additional 1,362 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in ACM Research in the 4th quarter valued at about $10,549,000. ProShare Advisors LLC raised its holdings in ACM Research by 45.8% in the 4th quarter. ProShare Advisors LLC now owns 21,516 shares of the specialty retailer’s stock valued at $325,000 after buying an additional 6,762 shares during the period. Man Group plc purchased a new stake in ACM Research in the 4th quarter valued at about $370,000. Finally, Oasis Management Co Ltd. raised its holdings in ACM Research by 29.8% in the 4th quarter. Oasis Management Co Ltd. now owns 373,709 shares of the specialty retailer’s stock valued at $5,643,000 after buying an additional 85,830 shares during the period. Institutional investors and hedge funds own 66.75% of the company’s stock.

Insiders Place Their Bets

In other news, Director Chenming Hu sold 163,308 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the transaction, the director now directly owns 100,002 shares of the company’s stock, valued at approximately $3,000,060. The trade was a 62.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Haiping Dun sold 9,518 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $29.00, for a total value of $276,022.00. Following the transaction, the director now directly owns 755,090 shares of the company’s stock, valued at approximately $21,897,610. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,576 shares of company stock worth $7,693,575 over the last three months. Company insiders own 25.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ACMR. Needham & Company LLC restated a “hold” rating on shares of ACM Research in a report on Thursday, February 27th. JPMorgan Chase & Co. began coverage on shares of ACM Research in a report on Friday, February 28th. They issued an “overweight” rating and a $36.00 price objective on the stock. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.40.

ACM Research Stock Down 2.5%

Shares of NASDAQ:ACMR opened at $23.73 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. The firm has a market capitalization of $1.40 billion, a PE ratio of 17.98 and a beta of 1.57. The firm’s 50-day moving average is $22.64 and its two-hundred day moving average is $20.37. ACM Research, Inc. has a 1 year low of $13.87 and a 1 year high of $30.64.

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.