Picton Mahoney Asset Management Increases Position in ACM Research, Inc. (NASDAQ:ACMR)

Picton Mahoney Asset Management lifted its position in shares of ACM Research, Inc. (NASDAQ:ACMR) by 66.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,104 shares of the specialty retailer’s stock after buying an additional 1,236 shares during the period. Picton Mahoney Asset Management’s holdings in ACM Research were worth $47,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in shares of ACM Research by 35.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 70,655 shares of the specialty retailer’s stock valued at $1,067,000 after buying an additional 18,617 shares during the period. Algert Global LLC lifted its stake in shares of ACM Research by 530.5% during the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock valued at $3,611,000 after buying an additional 149,670 shares during the period. SG Americas Securities LLC acquired a new position in ACM Research during the fourth quarter worth approximately $5,782,000. Barclays PLC increased its position in ACM Research by 63.3% during the third quarter. Barclays PLC now owns 137,584 shares of the specialty retailer’s stock worth $2,793,000 after purchasing an additional 53,319 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in ACM Research during the third quarter worth approximately $700,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Insider Transactions at ACM Research

In other news, insider David H. Wang sold 56,250 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $26.57, for a total value of $1,494,562.50. Following the completion of the sale, the insider now owns 747,708 shares of the company’s stock, valued at $19,866,601.56. This represents a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sotheara Cheav sold 22,598 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $23.00, for a total transaction of $519,754.00. Following the sale, the insider now directly owns 100,002 shares of the company’s stock, valued at approximately $2,300,046. The trade was a 18.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,348 shares of company stock valued at $3,038,067 over the last 90 days. Corporate insiders own 31.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. Craig Hallum raised shares of ACM Research from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. assumed coverage on shares of ACM Research in a research report on Friday, February 28th. They set an “overweight” rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

ACM Research Price Performance

ACM Research stock opened at $29.18 on Monday. ACM Research, Inc. has a 52-week low of $13.87 and a 52-week high of $33.40. The firm has a fifty day moving average of $21.87 and a 200-day moving average of $19.20. The firm has a market capitalization of $1.70 billion, a P/E ratio of 22.11 and a beta of 1.61. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

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.