Truvestments Capital LLC Purchases Shares of 3,570 ACM Research, Inc. (NASDAQ:ACMR)

Truvestments Capital LLC bought a new position in shares of ACM Research, Inc. (NASDAQ:ACMR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,570 shares of the specialty retailer’s stock, valued at approximately $72,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC increased 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 during the period. Allspring Global Investments Holdings LLC increased its position in shares of ACM Research by 9.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer’s stock worth $9,412,000 after purchasing an additional 34,066 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of ACM Research by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock worth $8,239,000 after purchasing an additional 13,879 shares during the period. Citigroup Inc. increased its position in shares of ACM Research by 8.7% in the third quarter. Citigroup Inc. now owns 340,207 shares of the specialty retailer’s stock worth $6,906,000 after purchasing an additional 27,178 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of ACM Research by 8.7% in the second 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 period. Institutional investors and hedge funds own 66.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider David H. Wang sold 56,250 shares of ACM Research stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $19.08, for a total value of $1,073,250.00. Following the transaction, the insider now directly owns 710,506 shares of the company’s stock, valued at $13,556,454.48. The trade was a 7.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction that occurred on Friday, November 22nd. The stock was 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 directly owns 774,148 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 1,187,766 shares of company stock valued at $25,933,640. 31.24% of the stock is currently owned by corporate insiders.

ACM Research Stock Performance

ACM Research stock opened at $17.37 on Wednesday. ACM Research, Inc. has a 12-month low of $13.94 and a 12-month high of $34.40. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $19.23 and its two-hundred day moving average price is $20.26. 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 results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The firm had revenue of $204.00 million for the quarter, compared to analyst estimates of $191.18 million. During the same period last year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. As a group, analysts expect that ACM Research, Inc. will post 1.12 earnings per share for the current fiscal year.

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.