NorthCrest Asset Manangement LLC Boosts Stake in ACM Research, Inc. (NASDAQ:ACMR)

NorthCrest Asset Manangement LLC lifted its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,037 shares of the specialty retailer’s stock after buying an additional 647 shares during the period. NorthCrest Asset Manangement LLC owned approximately 0.06% of ACM Research worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ACMR. Cim LLC increased its position in shares of ACM Research by 2.8% during the fourth quarter. Cim LLC now owns 17,149 shares of the specialty retailer’s stock valued at $259,000 after acquiring an additional 475 shares during the last quarter. Rhumbline Advisers grew its holdings in ACM Research by 0.8% during the 4th quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer’s stock worth $1,113,000 after acquiring an additional 589 shares in the last quarter. Arizona State Retirement System lifted its position in shares of ACM Research by 7.3% during the 4th quarter. Arizona State Retirement System now owns 14,964 shares of the specialty retailer’s stock worth $226,000 after buying an additional 1,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ACM Research by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,996 shares of the specialty retailer’s stock worth $438,000 after buying an additional 1,061 shares during the last quarter. Finally, Picton Mahoney Asset Management lifted its position in shares of ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock worth $47,000 after buying an additional 1,236 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ACM Research

In other ACM Research news, insider David H. Wang sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $22.63, for a total value of $1,357,800.00. Following the completion of the sale, the insider now owns 672,708 shares of the company’s stock, valued at $15,223,382.04. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chenming Hu sold 163,308 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the sale, the director now directly owns 100,002 shares of the company’s stock, valued at $3,000,060. The trade was a 62.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,308 shares of company stock worth $7,909,040. Company insiders own 25.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ACMR has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. JPMorgan Chase & Co. assumed coverage on shares of ACM Research in a research note on Friday, February 28th. They issued an “overweight” rating and a $36.00 price objective on the stock. Finally, Craig Hallum upgraded shares of ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ACM Research presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

ACM Research Trading Down 5.3%

Shares of ACMR stock opened at $24.37 on Friday. The firm has a market cap of $1.43 billion, a P/E ratio of 18.46 and a beta of 1.48. ACM Research, Inc. has a 1-year low of $13.87 and a 1-year high of $30.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. The firm’s 50-day simple moving average is $21.83 and its 200-day simple moving average is $21.07.

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.