Point72 Asset Management L.P. Has $1.86 Million Holdings in ACM Research, Inc. (NASDAQ:ACMR)

Point72 Asset Management L.P. reduced its stake in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 44.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,613 shares of the specialty retailer's stock after selling 64,887 shares during the period. Point72 Asset Management L.P. owned 0.14% of ACM Research worth $1,859,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ACMR. Steamboat Capital Partners LLC bought a new position in shares of ACM Research in the first quarter worth $20,398,000. Millennium Management LLC grew its stake in shares of ACM Research by 283.9% in the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer's stock worth $21,310,000 after acquiring an additional 683,361 shares during the last quarter. Prelude Capital Management LLC bought a new position in shares of ACM Research during the fourth quarter valued at $8,640,000. M&G Plc bought a new position in shares of ACM Research during the first quarter valued at $7,413,000. Finally, Westend Capital Management LLC bought a new stake in ACM Research during the first quarter valued at approximately $4,802,000. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Stock Performance

ACMR traded up $3.14 during trading on Friday, hitting $22.04. The stock had a trading volume of 6,075,013 shares, compared to its average volume of 1,445,455. The company's 50-day moving average price is $17.93 and its 200 day moving average price is $22.64. The firm has a market capitalization of $1.26 billion, a P/E ratio of 16.39 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29. ACM Research, Inc. has a twelve month low of $12.53 and a twelve month high of $34.40.

ACM Research (NASDAQ:ACMR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 EPS 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 9.16% and a net margin of 12.26%. The firm's revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. On average, equities research analysts forecast that ACM Research, Inc. will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling at ACM Research

In related news, major shareholder Science & Technology Shanghai sold 26,300 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the sale, the insider now directly owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Science & Technology Shanghai sold 26,300 shares of the firm's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total value of $526,263.00. Following the transaction, the insider now directly owns 3,403,906 shares in the company, valued at approximately $68,112,159.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Xiao Xing sold 8,304 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total value of $167,657.76. Following the sale, the director now owns 3,430,206 shares of the company's stock, valued at approximately $69,255,859.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 31.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ACMR shares. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of ACM Research in a report on Tuesday. Roth Mkm decreased their target price on shares of ACM Research from $40.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, Benchmark reissued a "buy" rating and set a $38.00 price objective on shares of ACM Research in a report on Wednesday, August 7th.

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.