Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 2,258.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,469,271 shares of the specialty retailer's stock after acquiring an additional 1,406,968 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 2.55% of ACM Research worth $22,171,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ACMR. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ACM Research during the 4th quarter valued at about $33,000. Erste Asset Management GmbH purchased a new position in shares of ACM Research in the third quarter worth approximately $37,000. Picton Mahoney Asset Management grew its position in ACM Research by 66.2% during the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock valued at $47,000 after buying an additional 1,236 shares during the period. Ieq Capital LLC purchased a new stake in ACM Research during the fourth quarter valued at approximately $162,000. Finally, KLP Kapitalforvaltning AS bought a new position in ACM Research in the fourth quarter worth approximately $207,000. Institutional investors own 66.75% of the company's stock.
ACM Research Price Performance
Shares of ACMR traded up $0.61 during trading hours on Tuesday, reaching $23.95. 1,477,966 shares of the stock traded hands, compared to its average volume of 1,421,196. The company has a market cap of $1.39 billion, a P/E ratio of 18.14 and a beta of 1.61. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The company's 50-day moving average price is $24.38 and its two-hundred day moving average price is $20.08. ACM Research, Inc. has a 52-week low of $13.87 and a 52-week high of $33.40.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of ACM Research in a research report on Thursday, February 27th. JPMorgan Chase & Co. initiated coverage on ACM Research in a report on Friday, February 28th. They set an "overweight" rating and a $36.00 price target for the company. Finally, Craig Hallum upgraded ACM Research from a "hold" rating to a "buy" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, ACM Research presently has a consensus rating of "Moderate Buy" and an average price target of $29.40.
Get Our Latest Analysis on ACMR
Insider Transactions at ACM Research
In related news, insider David H. Wang sold 56,250 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $26.57, for a total value of $1,494,562.50. Following the transaction, the insider now directly owns 747,708 shares of the company's stock, valued at approximately $19,866,601.56. The trade was a 7.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chenming Hu sold 163,308 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.00, for a total value of $4,899,240.00. Following the completion of the transaction, the director now owns 100,002 shares of the company's stock, valued at $3,000,060. The trade was a 62.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 289,174 shares of company stock valued at $8,213,329 over the last 90 days. Company insiders own 31.24% of the company's stock.
ACM Research Company Profile
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Free Report)
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.
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