ClariVest Asset Management LLC raised its stake in shares of ACM Research, Inc. (NASDAQ:ACMR – Free Report) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,914 shares of the specialty retailer’s stock after purchasing an additional 1,964 shares during the quarter. ClariVest Asset Management LLC owned about 0.23% of ACM Research worth $3,042,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in ACMR. Swiss National Bank raised its stake in shares of ACM Research by 1.2% in the first quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer’s stock worth $2,558,000 after purchasing an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of ACM Research by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer’s stock valued at $8,761,000 after acquiring an additional 12,593 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of ACM Research in the 1st quarter valued at $1,207,000. Prelude Capital Management LLC acquired a new stake in ACM Research during the 4th quarter worth about $8,640,000. Finally, Comerica Bank purchased a new stake in shares of ACM Research in the first quarter worth about $1,150,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.
ACM Research Stock Up 1.7 %
Shares of ACMR opened at $15.87 on Wednesday. The firm has a market cap of $911.73 million, a P/E ratio of 12.02 and a beta of 1.52. ACM Research, Inc. has a 12 month low of $12.53 and a 12 month high of $34.40. The stock’s 50 day moving average is $19.67 and its two-hundred day moving average is $23.90. The company has a current ratio of 2.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07.
Analysts Set New Price Targets
ACMR has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of ACM Research in a research report on Thursday, August 8th. Roth Mkm cut their target price on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $38.00 price target on shares of ACM Research in a research report on Wednesday, August 7th.
Read Our Latest Stock Report on ACM Research
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.
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