Steamboat Capital Partners LLC Lowers Stake in ACM Research, Inc. $ACMR

Steamboat Capital Partners LLC cut its position in ACM Research, Inc. (NASDAQ:ACMR) by 18.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,773 shares of the specialty retailer’s stock after selling 40,618 shares during the quarter. ACM Research comprises about 5.0% of Steamboat Capital Partners LLC’s holdings, making the stock its largest position. Steamboat Capital Partners LLC’s holdings in ACM Research were worth $23,192,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Jefferies Financial Group Inc. purchased a new position in ACM Research during the 4th quarter valued at about $1,054,000. Thompson Siegel & Walmsley LLC lifted its holdings in shares of ACM Research by 71.8% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 188,500 shares of the specialty retailer’s stock worth $7,436,000 after buying an additional 78,800 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in shares of ACM Research in the fourth quarter worth about $17,212,000. Fideuram Asset Management Ireland dac bought a new position in shares of ACM Research in the fourth quarter valued at approximately $1,222,000. Finally, California State Teachers Retirement System grew its stake in ACM Research by 32.4% during the first quarter. California State Teachers Retirement System now owns 63,131 shares of the specialty retailer’s stock valued at $2,484,000 after acquiring an additional 15,460 shares in the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Trading Up 3.3%

Shares of ACMR stock opened at $76.91 on Wednesday. The stock has a market capitalization of $4.97 billion, a PE ratio of 36.62 and a beta of 1.96. ACM Research, Inc. has a 1-year low of $26.44 and a 1-year high of $127.19. The business has a 50-day moving average of $83.82 and a 200 day moving average of $71.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 2.66.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. The business had revenue of $292.92 million during the quarter, compared to analysts’ expectations of $269.28 million. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 EPS. As a group, sell-side analysts anticipate that ACM Research, Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ACMR shares. Craig Hallum reaffirmed a “buy” rating and issued a $100.00 price target on shares of ACM Research in a report on Monday, August 10th. Roth Capital set a $125.00 price objective on ACM Research and gave the company a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley restated an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Daiwa Securities Group began coverage on ACM Research in a report on Wednesday, August 26th. They issued a “buy” rating and a $136.00 price target on the stock. Finally, Zacks Research raised ACM Research from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, ACM Research currently has a consensus rating of “Buy” and an average price target of $122.75.

Insider Buying and Selling at ACM Research

In other ACM Research news, Director Haiping Dun sold 5,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total value of $405,650.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $405,650. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 24.36% of the company’s stock.

ACM Research Company Profile

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.