Rockefeller Capital Management L.P. Sells 1,767 Shares of ACM Research, Inc. (NASDAQ:ACMR)

Rockefeller Capital Management L.P. trimmed its stake in shares of ACM Research, Inc. (NASDAQ:ACMR) by 14.0% in the third quarter, Holdings Channel.com reports. The fund owned 10,846 shares of the specialty retailer’s stock after selling 1,767 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in ACM Research were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ACMR. Millennium Management LLC increased its holdings in ACM Research by 283.9% in the second quarter. Millennium Management LLC now owns 924,104 shares of the specialty retailer’s stock worth $21,310,000 after purchasing an additional 683,361 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in ACM Research by 9.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 408,135 shares of the specialty retailer’s stock worth $9,412,000 after purchasing an additional 34,066 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ACM Research by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock worth $8,239,000 after purchasing an additional 13,879 shares in the last quarter. Citigroup Inc. increased its holdings in ACM Research by 8.7% in the third quarter. Citigroup Inc. now owns 340,207 shares of the specialty retailer’s stock worth $6,906,000 after purchasing an additional 27,178 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ACM Research by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 235,860 shares of the specialty retailer’s stock valued at $5,439,000 after acquiring an additional 18,830 shares in the last quarter. 66.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ACMR. Needham & Company LLC downgraded ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a report on Wednesday, December 4th. Craig Hallum downgraded ACM Research from a “buy” rating to a “hold” rating and decreased their price objective for the company from $30.00 to $18.00 in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

ACM Research Stock Down 1.1 %

ACMR stock opened at $15.60 on Thursday. The stock’s fifty day simple moving average is $18.75 and its two-hundred day simple moving average is $19.69. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. ACM Research, Inc. has a 1-year low of $13.87 and a 1-year high of $34.40. The stock has a market cap of $898.65 million, a P/E ratio of 11.82 and a beta of 1.49.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.35. ACM Research had a return on equity of 9.07% and a net margin of 12.38%. The business had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. Analysts expect that ACM Research, Inc. will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other ACM Research news, major shareholder Science & Technology Shanghai sold 26,300 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 3,403,906 shares in the company, valued at $68,112,159.06. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Xiao Xing sold 8,304 shares of the business’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 sale, the director now owns 3,430,206 shares in the company, valued at approximately $69,255,859.14. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,244,016 shares of company stock valued at $26,939,953. Insiders own 31.24% of the company’s stock.

ACM Research Company 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.