Geode Capital Management LLC Boosts Stock Position in ACM Research, Inc. (NASDAQ:ACMR)

Geode Capital Management LLC grew its position in ACM Research, Inc. (NASDAQ:ACMR) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,184,872 shares of the specialty retailer’s stock after acquiring an additional 4,131 shares during the period. Geode Capital Management LLC’s holdings in ACM Research were worth $17,896,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Pertento Partners LLP increased its holdings in ACM Research by 22.3% in the 4th quarter. Pertento Partners LLP now owns 1,185,037 shares of the specialty retailer’s stock worth $17,894,000 after buying an additional 215,744 shares during the period. Norges Bank purchased a new stake in shares of ACM Research in the 4th quarter valued at $4,379,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of ACM Research by 2,258.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,469,271 shares of the specialty retailer’s stock valued at $22,171,000 after acquiring an additional 1,406,968 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of ACM Research by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,201,403 shares of the specialty retailer’s stock worth $63,441,000 after acquiring an additional 67,255 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of ACM Research by 9.3% during the fourth quarter. LPL Financial LLC now owns 233,247 shares of the specialty retailer’s stock worth $3,522,000 after purchasing an additional 19,938 shares during the last quarter. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction dated 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 owns 747,708 shares of the company’s stock, valued at $19,866,601.56. The trade was a 7.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chenming Hu sold 163,308 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the transaction, the director now owns 100,002 shares of the company’s stock, valued at approximately $3,000,060. This trade represents a 62.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 289,174 shares of company stock valued at $8,213,329. 31.24% of the stock is owned by company insiders.

ACM Research Trading Down 1.9 %

ACMR stock opened at $19.36 on Friday. 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, Inc. has a 52-week low of $13.87 and a 52-week high of $30.64. The company’s 50-day simple moving average is $24.31 and its 200-day simple moving average is $20.25. The firm has a market cap of $1.12 billion, a P/E ratio of 14.67 and a beta of 1.65.

Analysts Set New Price Targets

ACMR has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on ACM Research in a research report on Friday, February 28th. They set an “overweight” rating and a $36.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. Finally, Craig Hallum upgraded ACM Research from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.40.

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.