Franklin Resources Inc. Sells 106,989 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Franklin Resources Inc. lessened its stake in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 79.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,098 shares of the specialty retailer's stock after selling 106,989 shares during the quarter. Franklin Resources Inc.'s holdings in ACM Research were worth $599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC increased its position in ACM Research by 283.9% during the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer's stock worth $21,310,000 after buying an additional 683,361 shares during the last quarter. Algert Global LLC boosted its stake in shares of ACM Research by 530.5% during the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer's stock worth $3,611,000 after acquiring an additional 149,670 shares during the period. Portolan Capital Management LLC lifted its position in ACM Research by 7.7% during the third quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer's stock worth $18,705,000 after acquiring an additional 65,616 shares during the last quarter. Seven Eight Capital LP boosted its holdings in shares of ACM Research by 625.1% during the second quarter. Seven Eight Capital LP now owns 75,517 shares of the specialty retailer's stock worth $1,741,000 after acquiring an additional 65,102 shares during the period. Finally, Richard P Slaughter Associates Inc grew its position in shares of ACM Research by 94.9% in the third quarter. Richard P Slaughter Associates Inc now owns 127,810 shares of the specialty retailer's stock valued at $2,595,000 after purchasing an additional 62,247 shares during the last quarter. 66.75% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ACM Research news, insider David H. Wang sold 56,250 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total transaction of $1,006,312.50. Following the completion of the transaction, the insider now owns 654,256 shares in the company, valued at approximately $11,704,639.84. This trade represents a 7.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Haiping Dun sold 15,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $19.12, for a total transaction of $286,800.00. Following the completion of the transaction, the director now owns 774,148 shares in the company, valued at $14,801,709.76. This trade represents a 1.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,235,712 shares of company stock valued at $26,772,295. 31.24% of the stock is currently owned by company insiders.

ACM Research Price Performance

Shares of NASDAQ:ACMR traded up $0.03 during trading on Tuesday, hitting $15.10. 1,114,637 shares of the company were exchanged, compared to its average volume of 1,450,803. ACM Research, Inc. has a 1-year low of $13.87 and a 1-year high of $34.40. The company has a market capitalization of $869.85 million, a P/E ratio of 11.44 and a beta of 1.48. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $17.27 and its 200-day moving average is $18.93.

ACM Research (NASDAQ:ACMR - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.35. The firm had revenue of $204.00 million during the quarter, compared to the consensus estimate of $191.18 million. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The company's revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. Equities analysts forecast that ACM Research, Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC cut ACM Research from a "buy" rating to a "hold" rating and set a $25.00 price target for the company. in a report on Wednesday, December 4th. Craig Hallum cut ACM Research from a "buy" rating to a "hold" rating and cut their target price for the stock from $30.00 to $18.00 in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, ACM Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

ACM Research 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.