Matthews International Capital Management LLC Cuts Stock Holdings in ACM Research, Inc. (NASDAQ:ACMR)

Matthews International Capital Management LLC trimmed its position in shares of ACM Research, Inc. (NASDAQ:ACMR) by 47.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 364,344 shares of the specialty retailer’s stock after selling 326,513 shares during the period. ACM Research comprises approximately 2.1% of Matthews International Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Matthews International Capital Management LLC’s holdings in ACM Research were worth $10,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ACMR. Charles Schwab Investment Management Inc. increased its holdings in shares of ACM Research by 9.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 356,683 shares of the specialty retailer’s stock valued at $6,458,000 after purchasing an additional 30,424 shares in the last quarter. HighTower Advisors LLC purchased a new stake in ACM Research in the 3rd quarter worth $1,091,000. Deutsche Bank AG increased its holdings in ACM Research by 14.3% in the 3rd quarter. Deutsche Bank AG now owns 24,672 shares of the specialty retailer’s stock worth $447,000 after acquiring an additional 3,087 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in ACM Research in the 3rd quarter worth $68,000. Finally, Federated Hermes Inc. purchased a new stake in ACM Research in the 3rd quarter worth $46,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

ACM Research Trading Up 0.1 %

NASDAQ ACMR traded up $0.03 during trading hours on Wednesday, reaching $21.88. The company had a trading volume of 742,206 shares, compared to its average volume of 1,503,508. The stock has a 50-day moving average of $24.15 and a 200 day moving average of $23.49. ACM Research, Inc. has a 1-year low of $11.82 and a 1-year high of $34.40. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.25 billion, a P/E ratio of 16.58 and a beta of 1.44.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Wednesday, May 8th. The specialty retailer reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. ACM Research had a net margin of 13.79% and a return on equity of 10.26%. The company had revenue of $152.19 million for the quarter, compared to analysts’ expectations of $151.00 million. As a group, research analysts anticipate that ACM Research, Inc. will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling at ACM Research

In other news, Director Haiping Dun sold 15,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.88, for a total transaction of $343,200.00. Following the sale, the director now owns 874,329 shares of the company’s stock, valued at $20,004,647.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Haiping Dun sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $22.88, for a total transaction of $343,200.00. Following the sale, the director now directly owns 874,329 shares in the company, valued at $20,004,647.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David H. Wang sold 90,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.81, for a total transaction of $2,052,900.00. Following the sale, the insider now owns 590,108 shares in the company, valued at $13,460,363.48. The disclosure for this sale can be found here. Insiders have sold 240,329 shares of company stock valued at $5,440,934 over the last 90 days. 31.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of ACM Research in a report on Thursday, May 9th. The Goldman Sachs Group raised shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, February 29th. Finally, Benchmark boosted their price target on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $31.88.

ACM Research Company 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.