Harbour Capital Advisors LLC Makes New $346,000 Investment in ACM Research, Inc. (NASDAQ:ACMR)

Harbour Capital Advisors LLC purchased a new position in ACM Research, Inc. (NASDAQ:ACMR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 15,700 shares of the specialty retailer’s stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACMR. Steamboat Capital Partners LLC purchased a new position in ACM Research in the 1st quarter worth approximately $20,398,000. Millennium Management LLC lifted its holdings in shares of ACM Research by 283.9% in the 2nd quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after acquiring an additional 683,361 shares during the last quarter. M&G Plc bought a new stake in shares of ACM Research in the 1st quarter worth approximately $7,413,000. Westend Capital Management LLC bought a new stake in shares of ACM Research in the 1st quarter worth approximately $4,802,000. Finally, Richard P Slaughter Associates Inc bought a new stake in shares of ACM Research in the 2nd quarter worth approximately $1,512,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACMR. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of ACM Research in a report on Wednesday, August 7th. Roth Mkm lowered their price objective on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of ACM Research in a report on Tuesday, October 1st.

ACM Research Trading Up 1.1 %

NASDAQ:ACMR opened at $19.21 on Friday. The company has a fifty day moving average of $18.72 and a 200 day moving average of $21.99. ACM Research, Inc. has a 52 week low of $12.53 and a 52 week high of $34.40. The company has a quick ratio of 1.26, a current ratio of 2.29 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.09 billion, a P/E ratio of 14.55 and a beta of 1.52.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The company had revenue of $202.50 million during the quarter, compared to analyst estimates of $163.05 million. During the same period in the prior year, the business posted $0.45 EPS. The firm’s revenue was up 40.0% compared to the same quarter last year. On average, research analysts predict that ACM Research, Inc. will post 0.92 earnings per share for the current year.

Insiders Place Their Bets

In other ACM Research news, Director Xiao Xing sold 8,304 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total value of $167,657.76. Following the completion of the transaction, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ACM Research news, Director Xiao Xing sold 8,304 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $20.19, for a total value of $167,657.76. Following the completion of the transaction, the director now directly owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Science & Technology Shanghai sold 26,300 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $20.01, for a total transaction of $526,263.00. Following the completion of the transaction, the insider now owns 3,403,906 shares of the company’s stock, valued at $68,112,159.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,116,516 shares of company stock worth $24,573,590. 31.24% of the stock is currently owned by corporate insiders.

ACM Research 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.