Harbour Capital Advisors LLC Invests $346,000 in ACM Research, Inc. (NASDAQ:ACMR)

Harbour Capital Advisors LLC bought a new position in ACM Research, Inc. (NASDAQ:ACMR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,700 shares of the specialty retailer’s stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACMR. CWM LLC grew its position in ACM Research by 297.1% during the 2nd quarter. CWM LLC now owns 1,930 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,444 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in ACM Research during the 2nd quarter valued at about $59,000. Lazard Asset Management LLC grew its position in ACM Research by 1,197.6% during the 1st quarter. Lazard Asset Management LLC now owns 3,218 shares of the specialty retailer’s stock valued at $93,000 after purchasing an additional 2,970 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in ACM Research during the 2nd quarter valued at about $99,000. Finally, Palouse Capital Management Inc. purchased a new stake in ACM Research during the 2nd quarter valued at about $105,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

ACM Research Price Performance

Shares of NASDAQ:ACMR opened at $19.21 on Friday. The firm’s 50 day moving average price is $18.72 and its 200-day moving average price is $21.99. ACM Research, Inc. has a twelve month low of $12.53 and a twelve month high of $34.40. The company has a quick ratio of 1.26, a current ratio of 2.29 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.09 billion, a PE ratio of 14.55 and a beta of 1.52.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.25. ACM Research had a net margin of 12.26% and a return on equity of 9.16%. The firm had revenue of $202.50 million for the quarter, compared to analysts’ expectations of $163.05 million. During the same quarter in the prior year, the business earned $0.45 EPS. The business’s quarterly revenue was up 40.0% on a year-over-year basis. Equities research analysts expect that ACM Research, Inc. will post 0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of ACM Research in a research report on Tuesday, October 1st. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of ACM Research in a research report on Wednesday, August 7th. Finally, Roth Mkm lowered their target price on shares of ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Insiders Place Their Bets

In other ACM Research news, Director Xiao Xing sold 90,396 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $21.13, for a total transaction of $1,910,067.48. Following the sale, the director now owns 2,338,510 shares in the company, valued at approximately $49,412,716.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ACM Research news, Director Xiao Xing sold 90,396 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $21.13, for a total transaction of $1,910,067.48. Following the completion of the sale, the director now directly owns 2,338,510 shares of the company’s stock, valued at $49,412,716.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Science & Technology Shanghai sold 275,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $24.07, for a total transaction of $6,619,250.00. Following the sale, the insider now directly owns 2,428,906 shares of the company’s stock, valued at approximately $58,463,767.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,116,516 shares of company stock worth $24,573,590. Company insiders own 31.24% of the company’s stock.

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.