Teacher Retirement System of Texas Invests $851,000 in ACM Research, Inc. (NASDAQ:ACMR)

Teacher Retirement System of Texas acquired a new stake in ACM Research, Inc. (NASDAQ:ACMR) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 56,330 shares of the specialty retailer’s stock, valued at approximately $851,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACMR. Erste Asset Management GmbH purchased a new stake in shares of ACM Research during the third quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in ACM Research during the fourth quarter worth about $33,000. Picton Mahoney Asset Management grew its stake in ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock valued at $47,000 after acquiring an additional 1,236 shares in the last quarter. Ieq Capital LLC purchased a new stake in ACM Research during the 4th quarter valued at about $162,000. Finally, Intech Investment Management LLC acquired a new stake in ACM Research in the 3rd quarter valued at about $254,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACMR shares. Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. began coverage on ACM Research in a report on Friday, February 28th. They issued an “overweight” rating and a $36.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

ACM Research Stock Performance

ACM Research stock opened at $24.61 on Friday. The firm has a 50 day simple moving average of $24.15 and a 200-day simple moving average of $19.96. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 18.64 and a beta of 1.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. ACM Research, Inc. has a 1-year low of $13.87 and a 1-year high of $33.40.

Insider Activity at ACM Research

In other ACM Research news, Director Chenming Hu sold 163,308 shares of ACM Research stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the sale, the director now directly owns 100,002 shares in the company, valued at $3,000,060. This trade represents a 62.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $26.57, for a total transaction of $1,494,562.50. Following the completion of the sale, the insider now directly owns 747,708 shares in the company, valued at $19,866,601.56. This trade represents a 7.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 289,174 shares of company stock worth $8,213,329. Insiders own 31.24% of the company’s stock.

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.