ACM Research, Inc. $ACMR Stock Sold by CenterBook Partners LP

CenterBook Partners LP cut its holdings in shares of ACM Research, Inc. (NASDAQ:ACMR) by 55.5% in the third quarter, HoldingsChannel reports. The firm owned 18,439 shares of the specialty retailer’s stock after selling 22,999 shares during the period. CenterBook Partners LP’s holdings in ACM Research were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACMR. Congress Asset Management Co. grew its position in ACM Research by 23.8% during the 3rd quarter. Congress Asset Management Co. now owns 277,150 shares of the specialty retailer’s stock worth $22,427,000 after purchasing an additional 53,295 shares during the period. California State Teachers Retirement System raised its stake in shares of ACM Research by 32.4% during the 1st quarter. California State Teachers Retirement System now owns 63,131 shares of the specialty retailer’s stock valued at $2,484,000 after buying an additional 15,460 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of ACM Research by 73.7% in the 1st quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer’s stock valued at $14,716,000 after buying an additional 158,664 shares during the period. Cypress Capital Group acquired a new position in shares of ACM Research in the 1st quarter valued at about $623,000. Finally, Lazard Asset Management LLC acquired a new position in shares of ACM Research in the 1st quarter valued at about $1,693,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

ACM Research Price Performance

Shares of NASDAQ ACMR opened at $49.75 on Tuesday. The firm has a 50-day simple moving average of $64.42 and a 200-day simple moving average of $68.36. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 37.65 and a beta of 2.27. The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. ACM Research, Inc. has a 52 week low of $28.46 and a 52 week high of $127.19.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Thursday, November 5th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. ACM Research had a return on equity of 4.08% and a net margin of 14.48%. The business had revenue of $367.69 million during the quarter, compared to analyst estimates of $310.56 million. During the same period in the prior year, the business earned $0.36 earnings per share. The business’s revenue was up 36.6% compared to the same quarter last year. On average, equities analysts predict that ACM Research, Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ACM Research news, insider David Wang sold 70,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total transaction of $5,221,300.00. Following the transaction, the insider owned 802,708 shares of the company’s stock, valued at approximately $59,873,989.72. The trade was a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Haiping Dun sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $81.13, for a total value of $405,650.00. Following the completion of the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $405,650. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 24.36% of the company’s stock.

Analyst Ratings Changes

ACMR has been the topic of several analyst reports. Craig Hallum reaffirmed a “buy” rating and set a $100.00 target price on shares of ACM Research in a report on Monday, August 10th. Zacks Research lowered ACM Research from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Daiwa Securities Group started coverage on shares of ACM Research in a report on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price for the company. Finally, Weiss Ratings cut shares of ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.75.

About ACM Research

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor fabrication and advanced packaging. Its products support wafer processing, where precision cleaning and other treatment steps help prepare semiconductor wafers during production.

The company’s portfolio includes single-wafer wet-cleaning equipment, electroplating systems, stress-free polishing tools and furnaces, as well as equipment for advanced packaging applications. Its cleaning technologies are designed to remove particles and contaminants from wafers.

Founded in 1998, ACM Research is headquartered in Fremont, California, and has a significant operating presence in China.