Yong Rong HK Asset Management Ltd Makes New Investment in ACM Research, Inc. (NASDAQ:ACMR)

Yong Rong HK Asset Management Ltd purchased a new stake in ACM Research, Inc. (NASDAQ:ACMR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 150,000 shares of the specialty retailer's stock, valued at approximately $2,265,000. ACM Research accounts for 1.0% of Yong Rong HK Asset Management Ltd's holdings, making the stock its 14th biggest position. Yong Rong HK Asset Management Ltd owned approximately 0.26% of ACM Research at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ACMR. Erste Asset Management GmbH acquired a new stake in shares of ACM Research in the third quarter worth approximately $37,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ACM Research in the 4th quarter valued at $33,000. Truvestments Capital LLC purchased a new stake in shares of ACM Research during the 3rd quarter valued at $72,000. CWM LLC grew its stake in shares of ACM Research by 128.4% during the 3rd quarter. CWM LLC now owns 4,408 shares of the specialty retailer's stock valued at $89,000 after buying an additional 2,478 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of ACM Research during the 3rd quarter worth $203,000. Institutional investors and hedge funds own 66.75% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ACMR shares. Needham & Company LLC cut ACM Research from a "buy" rating to a "hold" rating and set a $25.00 target price on the stock. in a report on Wednesday, December 4th. Craig Hallum upgraded shares of ACM Research from a "hold" rating to a "buy" rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

ACM Research Stock Up 20.7 %

NASDAQ:ACMR traded up $4.75 during trading hours on Wednesday, hitting $27.69. The stock had a trading volume of 5,943,601 shares, compared to its average volume of 1,615,839. The company has a market cap of $1.60 billion, a PE ratio of 20.98 and a beta of 1.58. The business has a 50 day simple moving average of $18.91 and a two-hundred day simple moving average of $18.53. ACM Research, Inc. has a 1-year low of $13.87 and a 1-year high of $34.40. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.12. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. Analysts predict that ACM Research, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sotheara Cheav sold 22,598 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $23.00, for a total value of $519,754.00. Following the sale, the insider now owns 100,002 shares in the company, valued at approximately $2,300,046. This represents a 18.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.24% of the stock is owned by company insiders.

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.