Yong Rong HK Asset Management Ltd Takes Position in ACM Research, Inc. (NASDAQ:ACMR)

Yong Rong HK Asset Management Ltd acquired a new position in shares of ACM Research, Inc. (NASDAQ:ACMR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 150,000 shares of the specialty retailer’s stock, valued at approximately $2,265,000. ACM Research accounts for about 1.0% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in ACM Research during the fourth quarter worth about $33,000. Erste Asset Management GmbH acquired a new position in shares of ACM Research in the 3rd quarter worth approximately $37,000. Truvestments Capital LLC bought a new position in shares of ACM Research during the 3rd quarter worth approximately $72,000. CWM LLC lifted its position in shares of ACM Research by 128.4% during the 3rd quarter. CWM LLC now owns 4,408 shares of the specialty retailer’s stock worth $89,000 after buying an additional 2,478 shares during the period. Finally, Ieq Capital LLC acquired a new stake in ACM Research in the 4th quarter valued at $162,000. Institutional investors own 66.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACMR. Needham & Company LLC cut ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, December 4th. Craig Hallum cut shares of ACM Research from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $18.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, ACM Research currently has an average rating of “Moderate Buy” and an average price target of $30.00.

Insider Activity

In related news, insider David H. Wang sold 56,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total value of $1,006,312.50. Following the completion of the sale, the insider now owns 654,256 shares of the company’s stock, valued at $11,704,639.84. This trade represents a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sotheara Cheav sold 22,598 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total transaction of $519,754.00. Following the completion of the transaction, the insider now 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. 31.24% of the stock is currently owned by corporate insiders.

ACM Research Trading Down 2.8 %

Shares of ACMR opened at $26.04 on Friday. 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 company has a market cap of $1.50 billion, a price-to-earnings ratio of 19.73 and a beta of 1.58. The stock has a fifty day moving average price of $18.59 and a two-hundred day moving average price of $18.47. ACM Research, Inc. has a 52-week low of $13.87 and a 52-week high of $34.40.

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.