Summit Global Investments Makes New Investment in ACM Research, Inc. (NASDAQ:ACMR)

Summit Global Investments bought a new position in ACM Research, Inc. (NASDAQ:ACMR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 26,310 shares of the specialty retailer’s stock, valued at approximately $607,000.

A number of other institutional investors have also added to or reduced their stakes in ACMR. CWM LLC increased its stake in ACM Research by 297.1% in the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 1,444 shares during the last quarter. Headlands Technologies LLC bought a new position in ACM Research in the 4th quarter worth about $66,000. Lazard Asset Management LLC increased 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 worth $93,000 after acquiring an additional 2,970 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of ACM Research during the 4th quarter valued at about $145,000. Finally, SG Americas Securities LLC bought a new position in shares of ACM Research during the 1st quarter valued at about $196,000. 66.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ACMR. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of ACM Research in a research report on Thursday, August 8th. Roth Mkm reduced their price objective on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of ACM Research in a research report on Wednesday, August 7th.

Insider Activity at ACM Research

In related news, insider David H. Wang sold 90,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total transaction of $2,052,900.00. Following the completion of the sale, the insider now directly owns 590,108 shares in the company, valued at approximately $13,460,363.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ACM Research news, Director Haiping Dun sold 19,239 shares of ACM Research stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $22.63, for a total value of $435,378.57. Following the completion of the sale, the director now owns 855,090 shares of the company’s stock, valued at approximately $19,350,686.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David H. Wang sold 90,000 shares of ACM Research stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total value of $2,052,900.00. Following the completion of the sale, the insider now directly owns 590,108 shares of the company’s stock, valued at approximately $13,460,363.48. The disclosure for this sale can be found here. Insiders sold 240,329 shares of company stock worth $5,440,934 in the last ninety days. 31.24% of the stock is owned by company insiders.

ACM Research Trading Down 2.0 %

ACMR stock traded down $0.40 during trading on Tuesday, hitting $19.89. 660,781 shares of the company traded hands, compared to its average volume of 1,496,631. The firm has a market capitalization of $1.13 billion, a PE ratio of 15.07 and a beta of 1.55. ACM Research, Inc. has a 1 year low of $12.53 and a 1 year high of $34.40. The company has a 50-day moving average of $21.23 and a 200-day moving average of $23.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.31 and a current ratio of 2.31.

ACM Research (NASDAQ:ACMR) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.25. The company had revenue of $202.50 million during the quarter, compared to analysts’ expectations of $163.05 million. ACM Research had a return on equity of 10.26% and a net margin of 13.79%. ACM Research’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 EPS. Analysts predict that ACM Research, Inc. will post 1 earnings per share for the current fiscal year.

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.