ACM Research, Inc. (NASDAQ:ACMR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in ACM Research, Inc. (NASDAQ:ACMR - Free Report) by 94.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,825 shares of the specialty retailer's stock after selling 385,310 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in ACM Research were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ACMR. Millennium Management LLC raised 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 buying an additional 683,361 shares during the period. Steamboat Capital Partners LLC purchased a new position in shares of ACM Research during the first quarter valued at $20,398,000. Russell Investments Group Ltd. raised its holdings in shares of ACM Research by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer's stock valued at $8,761,000 after purchasing an additional 12,593 shares in the last quarter. M&G Plc purchased a new stake in ACM Research during the first quarter worth $7,413,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of ACM Research by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,860 shares of the specialty retailer's stock worth $5,439,000 after purchasing an additional 18,830 shares during the last quarter. 66.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Roth Mkm lowered 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 note on Thursday, August 8th. Benchmark reiterated a "buy" rating and set a $38.00 price target on shares of ACM Research in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price objective on shares of ACM Research in a research report on Tuesday, October 1st.

Insider Activity at ACM Research

In related news, major shareholder Science & Technology Shanghai sold 275,000 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $24.07, for a total transaction of $6,619,250.00. Following the completion of the sale, the insider now owns 2,428,906 shares in the company, valued at $58,463,767.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Science & Technology Shanghai sold 275,000 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $24.07, for a total transaction of $6,619,250.00. Following the transaction, the insider now directly owns 2,428,906 shares of the company's stock, valued at $58,463,767.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Xiao Xing sold 8,304 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the completion of the sale, the director now owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,116,516 shares of company stock valued at $24,573,590 over the last quarter. 31.24% of the stock is owned by insiders.

ACM Research Trading Down 1.3 %

Shares of NASDAQ ACMR traded down $0.25 during mid-day trading on Friday, reaching $18.55. 1,069,423 shares of the company's stock were exchanged, compared to its average volume of 1,445,028. The company's 50-day moving average is $18.64 and its 200-day moving average is $21.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.72 and a beta of 1.52. ACM Research, Inc. has a 52-week low of $12.95 and a 52-week high of $34.40.

ACM Research (NASDAQ:ACMR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.25. The business had revenue of $202.50 million during the quarter, compared to analysts' expectations of $163.05 million. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The business's revenue for the quarter was up 40.0% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share. Analysts expect that ACM Research, Inc. will post 0.92 EPS for the current fiscal year.

About ACM Research

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.