New York State Teachers Retirement System Purchases 10,945 Shares of ACM Research, Inc. $ACMR

New York State Teachers Retirement System raised its position in ACM Research, Inc. (NASDAQ:ACMR) by 5,760.5% during the third quarter, Holdings Channel.com reports. The fund owned 11,135 shares of the specialty retailer’s stock after purchasing an additional 10,945 shares during the quarter. New York State Teachers Retirement System’s holdings in ACM Research were worth $436,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of ACM Research by 656.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 1,122 shares during the last quarter. Headlands Technologies LLC purchased a new stake in ACM Research in the 2nd quarter worth approximately $114,000. Strs Ohio bought a new stake in shares of ACM Research in the 1st quarter worth approximately $133,000. Lazard Asset Management LLC increased its stake in shares of ACM Research by 27.9% during the second quarter. Lazard Asset Management LLC now owns 5,245 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 1,145 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of ACM Research by 7.3% during the second quarter. Tower Research Capital LLC TRC now owns 6,076 shares of the specialty retailer’s stock valued at $157,000 after buying an additional 416 shares during the period. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider David H. Wang sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $34.12, for a total value of $2,047,200.00. Following the sale, the insider directly owned 802,708 shares of the company’s stock, valued at $27,388,396.96. The trade was a 6.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Fuping Chen sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $33.06, for a total value of $661,200.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 265,000 shares of company stock worth $8,849,150. 25.00% of the stock is currently owned by company insiders.

ACM Research Price Performance

ACMR opened at $51.16 on Wednesday. The company has a current ratio of 3.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 29.74 and a beta of 1.46. The stock has a fifty day simple moving average of $39.61 and a two-hundred day simple moving average of $35.18. ACM Research, Inc. has a 12-month low of $16.80 and a 12-month high of $54.83.

ACM Research (NASDAQ:ACMR) last released its earnings results on Wednesday, November 5th. The specialty retailer reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The business had revenue of $269.16 million during the quarter, compared to analysts’ expectations of $251.72 million. ACM Research had a return on equity of 7.11% and a net margin of 13.30%.The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. Research analysts predict that ACM Research, Inc. will post 1.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACMR has been the subject of a number of research analyst reports. Zacks Research raised ACM Research from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings cut shares of ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Roth Capital reiterated a “buy” rating and set a $40.00 price target on shares of ACM Research in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, ACM Research has an average rating of “Moderate Buy” and a consensus price target of $38.00.

About ACM Research

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.