Point72 Hong Kong Ltd Sells 215,322 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Point72 Hong Kong Ltd lessened its holdings in shares of ACM Research, Inc. (NASDAQ:ACMR) by 78.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,186 shares of the specialty retailer’s stock after selling 215,322 shares during the quarter. Point72 Hong Kong Ltd’s holdings in ACM Research were worth $1,201,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Lazard Asset Management LLC grew its stake in ACM Research by 1,197.6% in the 1st quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock valued at $93,000 after buying an additional 2,970 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in ACM Research by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 127,519 shares of the specialty retailer’s stock worth $3,716,000 after purchasing an additional 7,713 shares in the last quarter. Comerica Bank bought a new position in ACM Research in the 1st quarter worth about $1,150,000. CWM LLC grew its holdings in ACM Research by 297.1% during the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 1,444 shares in the last quarter. Finally, Richard P Slaughter Associates Inc purchased a new position in ACM Research during the 2nd quarter valued at about $1,512,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of ACM Research in a research report on Tuesday, October 1st. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th. Finally, Roth Mkm decreased their price target on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

ACM Research Stock Down 0.5 %

ACMR stock opened at $17.19 on Monday. The company’s 50 day moving average is $19.25 and its 200 day moving average is $20.10. The stock has a market cap of $990.32 million, a price-to-earnings ratio of 13.02 and a beta of 1.54. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. ACM Research, Inc. has a 1-year low of $13.94 and a 1-year high of $34.40.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.35. The business had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. Sell-side analysts predict that ACM Research, Inc. will post 1.12 EPS for the current fiscal year.

Insider Activity at ACM Research

In related news, insider Mark Mckechnie sold 16,516 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $22.00, for a total transaction of $363,352.00. Following the transaction, the insider now owns 900 shares of the company’s stock, valued at approximately $19,800. This trade represents a 94.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $24.07, for a total transaction of $6,619,250.00. Following the completion of the sale, the insider now directly owns 2,428,906 shares of the company’s stock, valued at $58,463,767.42. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,244,016 shares of company stock valued at $26,939,953 over the last 90 days. 31.24% of the stock is owned by insiders.

ACM Research Company 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.