Fifth Third Bancorp Purchases 11,316 Shares of ACM Research, Inc. $ACMR

Fifth Third Bancorp raised its holdings in shares of ACM Research, Inc. (NASDAQ:ACMR) by 11,546.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,414 shares of the specialty retailer’s stock after purchasing an additional 11,316 shares during the period. Fifth Third Bancorp’s holdings in ACM Research were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ACMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ACM Research by 10.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,061 shares of the specialty retailer’s stock worth $748,000 after buying an additional 3,065 shares during the last quarter. Caxton Associates LLP acquired a new position in ACM Research in the first quarter valued at approximately $250,000. Strs Ohio bought a new position in ACM Research in the first quarter valued at approximately $133,000. Creative Planning bought a new position in ACM Research in the second quarter valued at approximately $212,000. Finally, Norges Bank bought a new position in ACM Research in the second quarter valued at approximately $739,000. Institutional investors own 66.75% of the company’s stock.

Insider Activity at ACM Research

In other ACM Research news, insider Sotheara Cheav sold 5,399 shares of ACM Research stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $83.18, for a total transaction of $449,088.82. Following the transaction, the insider directly owned 100,002 shares in the company, valued at approximately $8,318,166.36. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David H. Wang sold 40,002 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $85.80, for a total value of $3,432,171.60. Following the completion of the transaction, the insider directly owned 802,708 shares of the company’s stock, valued at approximately $68,872,346.40. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,752 shares of company stock worth $10,752,198 in the last quarter. Corporate insiders own 24.36% of the company’s stock.

ACM Research Stock Down 9.3%

Shares of NASDAQ ACMR opened at $65.30 on Thursday. ACM Research, Inc. has a 52-week low of $23.03 and a 52-week high of $127.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.51. The stock has a market cap of $4.00 billion, a P/E ratio of 49.85 and a beta of 1.90. The firm has a 50 day moving average price of $92.32 and a 200 day moving average price of $67.26.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The company had revenue of $231.26 million for the quarter, compared to analyst estimates of $215.69 million. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Analysts expect that ACM Research, Inc. will post 1.02 EPS for the current year.

Analyst Upgrades and Downgrades

ACMR has been the subject of several recent research reports. Wall Street Zen upgraded shares of ACM Research from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of ACM Research in a research note on Tuesday, July 21st. Seaport Research Partners assumed coverage on ACM Research in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and issued a $130.00 price objective (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. Finally, Zacks Research lowered ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, ACM Research currently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

ACM Research 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.