Truvestments Capital LLC Makes New $72,000 Investment in ACM Research, Inc. (NASDAQ:ACMR)

Truvestments Capital LLC bought a new position in ACM Research, Inc. (NASDAQ:ACMR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,570 shares of the specialty retailer’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of ACM Research by 39.3% in the second quarter. AQR Capital Management LLC now owns 178,460 shares of the specialty retailer’s stock worth $4,115,000 after purchasing an additional 50,356 shares in the last quarter. Richard P Slaughter Associates Inc lifted 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 worth $2,595,000 after purchasing an additional 62,247 shares in the last quarter. Millennium Management LLC lifted its position 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 purchasing an additional 683,361 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of ACM Research in the third quarter worth approximately $1,056,000. Finally, Algert Global LLC lifted its position in shares of ACM Research by 530.5% in the third quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after purchasing an additional 149,670 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ACMR shares. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of ACM Research in a research report on Tuesday, October 1st. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of ACM Research in a research report on Wednesday, August 7th. Finally, Roth Mkm lowered their price objective on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

ACM Research Stock Down 5.8 %

Shares of NASDAQ ACMR opened at $17.37 on Wednesday. The business has a fifty day moving average of $19.23 and a two-hundred day moving average of $20.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. ACM Research, Inc. has a 52-week low of $13.94 and a 52-week high of $34.40. The stock has a market cap of $1.00 billion, a PE ratio of 13.97 and a beta of 1.54.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.35. The firm had revenue of $204.00 million during the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. As a group, equities research analysts expect that ACM Research, Inc. will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Xiao Xing sold 8,304 shares of the business’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 transaction, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Haiping Dun sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $19.12, for a total value of $286,800.00. Following the completion of the transaction, the director now owns 774,148 shares of the company’s stock, valued at $14,801,709.76. This represents a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,187,766 shares of company stock valued at $25,933,640. 31.24% of the stock is currently owned by insiders.

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.