Janney Montgomery Scott LLC Takes $1.06 Million Position in ACM Research, Inc. (NASDAQ:ACMR)

Janney Montgomery Scott LLC purchased a new stake in shares of ACM Research, Inc. (NASDAQ:ACMR) in the third quarter, HoldingsChannel reports. The institutional investor purchased 52,038 shares of the specialty retailer’s stock, valued at approximately $1,056,000.

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of ACM Research by 39.3% during the 2nd quarter. AQR Capital Management LLC now owns 178,460 shares of the specialty retailer’s stock valued at $4,115,000 after acquiring an additional 50,356 shares during the last quarter. Richard P Slaughter Associates Inc boosted its position in shares of ACM Research by 94.9% during the 3rd quarter. Richard P Slaughter Associates Inc now owns 127,810 shares of the specialty retailer’s stock valued at $2,595,000 after acquiring an additional 62,247 shares during the last quarter. Swiss National Bank boosted its position in shares of ACM Research by 1.2% during the 1st quarter. Swiss National Bank now owns 87,800 shares of the specialty retailer’s stock valued at $2,558,000 after acquiring an additional 1,000 shares during the last quarter. Millennium Management LLC boosted its position in shares of ACM Research by 283.9% during the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock valued at $21,310,000 after acquiring an additional 683,361 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of ACM Research by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer’s stock valued at $8,761,000 after acquiring an additional 12,593 shares during the last quarter. Institutional investors own 66.75% of the company’s stock.

ACM Research Price Performance

Shares of ACM Research stock opened at $18.33 on Friday. 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 business’s 50 day simple moving average is $18.94 and its two-hundred day simple moving average is $20.66. The stock has a market capitalization of $1.06 billion, a P/E ratio of 13.89 and a beta of 1.54. ACM Research, Inc. has a one year low of $13.94 and a one year high of $34.40.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.35. The business had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. Analysts forecast that ACM Research, Inc. will post 0.92 EPS for the current year.

Insiders Place Their Bets

In other news, Director Xiao Xing sold 8,304 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total transaction of $167,657.76. Following the transaction, the director now directly owns 3,430,206 shares of the company’s stock, valued at approximately $69,255,859.14. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $24.07, for a total value of $6,619,250.00. Following the transaction, the insider now directly owns 2,428,906 shares in the company, valued at $58,463,767.42. This trade represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,116,516 shares of company stock valued at $24,573,590 in the last ninety days. Company insiders own 31.24% of the company’s stock.

Analyst Upgrades and Downgrades

ACMR has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of ACM Research in a research report on Tuesday, October 1st. Roth Mkm dropped their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and issued a $38.00 target price on shares of ACM Research in a research report on Wednesday, August 7th.

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.