Raymond James Financial Services Advisors Inc. Reduces Holdings in ACM Research, Inc. (NASDAQ:ACMR)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of ACM Research, Inc. (NASDAQ:ACMR) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,085 shares of the specialty retailer’s stock after selling 824 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.07% of ACM Research worth $744,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ACMR. Advisor Group Holdings Inc. grew its stake in ACM Research by 166.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,500 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 937 shares during the period. JPMorgan Chase & Co. grew its stake in ACM Research by 231.7% in the 1st quarter. JPMorgan Chase & Co. now owns 10,599 shares of the specialty retailer’s stock worth $220,000 after acquiring an additional 7,404 shares during the period. Bank of New York Mellon Corp grew its stake in ACM Research by 212.6% in the 1st quarter. Bank of New York Mellon Corp now owns 33,000 shares of the specialty retailer’s stock worth $683,000 after acquiring an additional 22,445 shares during the period. Citigroup Inc. grew its stake in ACM Research by 69.9% in the 1st quarter. Citigroup Inc. now owns 7,203 shares of the specialty retailer’s stock worth $149,000 after acquiring an additional 2,963 shares during the period. Finally, BlackRock Inc. grew its stake in ACM Research by 194.7% in the 1st quarter. BlackRock Inc. now owns 693,370 shares of the specialty retailer’s stock worth $14,346,000 after acquiring an additional 458,096 shares during the period. 66.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Lisa Feng sold 7,500 shares of ACM Research stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total value of $189,000.00. Following the completion of the transaction, the insider now directly owns 50,001 shares in the company, valued at $1,260,025.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ACM Research news, insider Lisa Feng sold 7,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total transaction of $189,000.00. Following the completion of the sale, the insider now owns 50,001 shares in the company, valued at $1,260,025.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Tracy Liu sold 12,500 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $25.20, for a total transaction of $315,000.00. Following the sale, the director now directly owns 110,772 shares in the company, valued at $2,791,454.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,434 shares of company stock worth $4,375,572. 33.63% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ACMR has been the topic of a number of research analyst reports. Roth Mkm lifted their price target on shares of ACM Research from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Benchmark lifted their price target on shares of ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC lifted their price target on shares of ACM Research from $24.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group upgraded shares of ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $31.88.

ACM Research Stock Performance

NASDAQ:ACMR opened at $28.84 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.26 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 24.65 and a beta of 1.39. The firm’s fifty day simple moving average is $26.39 and its 200 day simple moving average is $20.94. ACM Research, Inc. has a twelve month low of $8.75 and a twelve month high of $34.40.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.27. ACM Research had a net margin of 13.87% and a return on equity of 9.23%. The firm had revenue of $170.30 million for the quarter, compared to the consensus estimate of $149.54 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 57.0% on a year-over-year basis. As a group, equities research analysts expect that ACM Research, Inc. will post 1.22 earnings per share for the current fiscal year.

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.