Jericho Capital Asset Management L.P. Invests $57.37 Million in ACM Research, Inc. (NASDAQ:ACMR)

Jericho Capital Asset Management L.P. acquired a new stake in shares of ACM Research, Inc. (NASDAQ:ACMR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 710,102 shares of the specialty retailer’s stock, valued at approximately $57,369,000. Jericho Capital Asset Management L.P. owned approximately 4.11% of ACM Research at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in ACM Research during the 1st quarter valued at about $808,000. Amundi Asset Management US Inc. purchased a new stake in ACM Research during the 1st quarter valued at about $766,000. Morgan Stanley boosted its holdings in ACM Research by 4.6% in the 1st quarter. Morgan Stanley now owns 50,057 shares of the specialty retailer’s stock valued at $4,044,000 after purchasing an additional 2,223 shares during the last quarter. Tudor Investment Corp Et Al acquired a new position in ACM Research in the 1st quarter valued at about $241,000. Finally, Cubist Systematic Strategies LLC acquired a new position in ACM Research in the 1st quarter valued at about $829,000. 42.24% of the stock is owned by institutional investors.

Shares of ACMR stock traded up $2.48 during mid-day trading on Thursday, hitting $88.01. The stock had a trading volume of 10,178 shares, compared to its average volume of 334,704. ACM Research, Inc. has a fifty-two week low of $58.03 and a fifty-two week high of $144.81. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 90.84 and a beta of 0.77. The company has a current ratio of 2.24, a quick ratio of 1.43 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $84.77.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Thursday, May 6th. The specialty retailer reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.27. ACM Research had a net margin of 12.81% and a return on equity of 14.60%. The firm had revenue of $43.73 million during the quarter, compared to analysts’ expectations of $42.58 million. During the same quarter last year, the business earned $0.11 earnings per share. The business’s revenue for the quarter was up 79.6% compared to the same quarter last year. Research analysts expect that ACM Research, Inc. will post 1.18 earnings per share for the current fiscal year.

Several brokerages have recently commented on ACMR. TheStreet lowered shares of ACM Research from a “b-” rating to a “c” rating in a report on Monday, March 29th. Zacks Investment Research lowered shares of ACM Research from a “buy” rating to a “hold” rating in a report on Wednesday, July 7th. Finally, Roth Capital increased their price objective on shares of ACM Research from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 7th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.80.

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 with fine feature sizes; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.

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Institutional Ownership by Quarter for ACM Research (NASDAQ:ACMR)

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