Rice Hall James & Associates LLC Sells 3,533 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Rice Hall James & Associates LLC cut its position in shares of ACM Research, Inc. (NASDAQ:ACMR) by 5.2% in the second quarter, HoldingsChannel reports. The firm owned 64,227 shares of the specialty retailer’s stock after selling 3,533 shares during the period. Rice Hall James & Associates LLC’s holdings in ACM Research were worth $1,481,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Swiss National Bank raised its holdings in shares of ACM Research by 1.2% in the first 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 in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of ACM Research by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 300,635 shares of the specialty retailer’s stock valued at $8,761,000 after purchasing an additional 12,593 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of ACM Research in the 1st quarter worth approximately $1,207,000. Prelude Capital Management LLC bought a new position in shares of ACM Research during the fourth quarter valued at approximately $8,640,000. Finally, Comerica Bank purchased a new position in ACM Research during the first quarter valued at approximately $1,150,000. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACMR has been the subject of a number of analyst reports. Roth Mkm lowered their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark restated a “buy” rating and set a $38.00 price objective on shares of ACM Research in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACM Research in a research note on Thursday, August 8th.

ACM Research Price Performance

NASDAQ ACMR opened at $16.64 on Thursday. The firm’s fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $23.87. The firm has a market capitalization of $948.26 million, a P/E ratio of 12.10 and a beta of 1.52. The company has a current ratio of 2.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07. ACM Research, Inc. has a 12-month low of $12.53 and a 12-month high of $34.40.

ACM Research (NASDAQ:ACMR) last announced its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.25. ACM Research had a return on equity of 9.16% and a net margin of 12.26%. The firm had revenue of $202.50 million for the quarter, compared to the consensus estimate of $163.05 million. During the same period in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. Analysts forecast that ACM Research, Inc. will post 0.92 EPS for the current fiscal year.

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.