Portolan Capital Management LLC Has $18.71 Million Stock Position in ACM Research, Inc. (NASDAQ:ACMR)

Portolan Capital Management LLC raised its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 921,451 shares of the specialty retailer’s stock after acquiring an additional 65,616 shares during the quarter. ACM Research makes up about 1.4% of Portolan Capital Management LLC’s portfolio, making the stock its 20th largest holding. Portolan Capital Management LLC owned about 1.60% of ACM Research worth $18,705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in shares of ACM Research during the third quarter worth $37,000. CWM LLC increased its position in shares of ACM Research by 297.1% during the second quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock worth $45,000 after buying an additional 1,444 shares during the period. Picton Mahoney Asset Management acquired a new stake in shares of ACM Research during the second quarter worth $59,000. Truvestments Capital LLC acquired a new stake in shares of ACM Research during the third quarter worth $72,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of ACM Research during the second quarter worth $99,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACMR. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of ACM Research in a research report on Wednesday, August 7th. Needham & Company LLC lowered shares of ACM Research from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Roth Mkm cut their target price on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

ACM Research Stock Up 3.4 %

Shares of NASDAQ ACMR opened at $16.20 on Wednesday. The firm has a market cap of $933.28 million, a PE ratio of 12.27 and a beta of 1.48. ACM Research, Inc. has a 12-month low of $13.94 and a 12-month high of $34.40. The company’s fifty day simple moving average is $19.19 and its 200 day simple moving average is $19.98. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The firm had revenue of $204.00 million for the quarter, compared to analyst estimates of $191.18 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts forecast that ACM Research, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at ACM Research

In other news, major shareholder Science & Technology Shanghai sold 26,300 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $20.01, for a total value of $526,263.00. Following the completion of the sale, the insider now owns 3,403,906 shares in the company, valued at $68,112,159.06. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Xiao Xing sold 700,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $21.41, for a total transaction of $14,987,000.00. Following the completion of the sale, the director now owns 2,703,906 shares of the company’s stock, valued at approximately $57,890,627.46. This represents a 20.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,244,016 shares of company stock valued at $26,939,953. Corporate insiders own 31.24% of the company’s stock.

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.