Intech Investment Management LLC Acquires 8,760 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Intech Investment Management LLC increased its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 70.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,273 shares of the specialty retailer’s stock after buying an additional 8,760 shares during the period. Intech Investment Management LLC’s holdings in ACM Research were worth $321,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Panview Capital Ltd bought a new position in shares of ACM Research in the fourth quarter worth $20,758,000. Geode Capital Management LLC boosted its stake in ACM Research by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer’s stock worth $23,973,000 after purchasing an additional 26,620 shares during the period. Portolan Capital Management LLC grew its holdings in ACM Research by 7.7% during the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after buying an additional 65,616 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ACM Research by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 408,683 shares of the specialty retailer’s stock valued at $6,171,000 after buying an additional 2,825 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of ACM Research in the fourth quarter worth about $5,782,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

ACM Research Stock Performance

ACM Research stock opened at $28.56 on Wednesday. ACM Research, Inc. has a fifty-two week low of $13.87 and a fifty-two week high of $33.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The stock has a market cap of $1.66 billion, a P/E ratio of 21.64 and a beta of 1.61. The firm’s fifty day moving average price is $23.63 and its 200-day moving average price is $19.76.

Insider Buying and Selling at ACM Research

In other news, insider Sotheara Cheav sold 22,598 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $23.00, for a total transaction of $519,754.00. Following the transaction, the insider now directly owns 100,002 shares in the company, valued at approximately $2,300,046. This represents a 18.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David H. Wang sold 37,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $27.30, for a total value of $1,023,750.00. Following the transaction, the insider now directly owns 672,708 shares in the company, valued at approximately $18,364,928.40. This represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 289,174 shares of company stock worth $8,213,329 over the last 90 days. Corporate insiders own 31.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.