Hsbc Holdings PLC Takes Position in ACM Research, Inc. (NASDAQ:ACMR)

Hsbc Holdings PLC bought a new position in shares of ACM Research, Inc. (NASDAQ:ACMR) in the second quarter, HoldingsChannel.com reports. The firm bought 8,882 shares of the specialty retailer’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Steamboat Capital Partners LLC bought a new stake in ACM Research during the first quarter valued at about $20,398,000. Point72 Hong Kong Ltd grew its holdings in ACM Research by 16.5% in the fourth quarter. Point72 Hong Kong Ltd now owns 496,494 shares of the specialty retailer’s stock worth $9,701,000 after purchasing an additional 70,227 shares during the last quarter. Prelude Capital Management LLC acquired a new position in shares of ACM Research during the fourth quarter worth $8,640,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of ACM Research by 9.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer’s stock valued at $9,412,000 after purchasing an additional 34,066 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position 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 worth $8,761,000 after purchasing an additional 12,593 shares in the last quarter. Institutional investors own 66.75% of the company’s stock.

ACM Research Price Performance

Shares of NASDAQ:ACMR opened at $22.04 on Friday. ACM Research, Inc. has a twelve month low of $12.53 and a twelve month high of $34.40. The company has a current ratio of 2.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.26 billion, a PE ratio of 16.70 and a beta of 1.52. The company’s 50 day moving average is $17.99 and its 200 day moving average is $22.56.

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research firms have commented on ACMR. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of ACM Research in a research note on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th. Finally, Roth Mkm dropped their price objective on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

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.