Corebridge Financial Inc. Has $382,000 Position in ACM Research, Inc. (NASDAQ:ACMR)

Corebridge Financial Inc. lessened its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,327 shares of the specialty retailer’s stock after selling 1,912 shares during the quarter. Corebridge Financial Inc.’s holdings in ACM Research were worth $382,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Rhumbline Advisers increased its position in ACM Research by 0.8% in the 4th quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer’s stock valued at $1,113,000 after acquiring an additional 589 shares during the period. Beacon Financial Advisory LLC increased its holdings in ACM Research by 7.1% in the fourth quarter. Beacon Financial Advisory LLC now owns 14,495 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 960 shares during the period. Arizona State Retirement System raised its position in 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 purchasing an additional 1,017 shares during the last quarter. Picton Mahoney Asset Management lifted its holdings in 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 period. Finally, AlphaQuest LLC lifted its holdings in ACM Research by 9.5% during the 4th quarter. AlphaQuest LLC now owns 21,331 shares of the specialty retailer’s stock worth $322,000 after buying an additional 1,850 shares during the period. 66.75% of the stock is currently owned by institutional investors and hedge funds.

ACM Research Stock Performance

Shares of ACMR stock opened at $20.14 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10. ACM Research, Inc. has a 52 week low of $13.87 and a 52 week high of $30.64. The firm has a 50 day moving average of $24.65 and a 200-day moving average of $20.23. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 15.26 and a beta of 1.65.

Insiders Place Their Bets

In related news, Director Chenming Hu sold 163,308 shares of the company’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 transaction, the director now directly owns 100,002 shares of the company’s stock, valued at approximately $3,000,060. This represents a 62.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sotheara Cheav sold 22,598 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $23.00, for a total value of $519,754.00. Following the completion of the sale, the insider now directly owns 100,002 shares of the company’s stock, valued at $2,300,046. This trade represents a 18.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,174 shares of company stock worth $8,213,329. 31.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on ACM Research in a research report on Friday, February 28th. They set an “overweight” rating and a $36.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of ACM Research in a report on Thursday, February 27th. Finally, Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACM Research has an average rating of “Moderate Buy” and an average price target of $29.40.

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.