Needham & Company LLC Reiterates “Hold” Rating for ACM Research (NASDAQ:ACMR)

ACM Research (NASDAQ:ACMR)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

Separately, Craig Hallum raised shares of ACM Research from a “hold” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

ACM Research Stock Down 0.6 %

ACMR stock opened at $25.94 on Thursday. The stock has a 50-day simple moving average of $19.37 and a two-hundred day simple moving average of $18.64. ACM Research has a twelve month low of $13.87 and a twelve month high of $34.40. The firm has a market capitalization of $1.49 billion, a PE ratio of 19.65 and a beta of 1.58. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling at ACM Research

In other news, insider Sotheara Cheav sold 22,598 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $23.00, for a total transaction of $519,754.00. Following the completion of the transaction, the insider now owns 100,002 shares of the company’s stock, valued at approximately $2,300,046. The trade was a 18.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.24% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently bought and sold shares of ACMR. Vanguard Group Inc. raised its position in shares of ACM Research by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 4,201,403 shares of the specialty retailer’s stock valued at $63,441,000 after buying an additional 67,255 shares in the last quarter. Kerrisdale Advisers LLC increased its stake in ACM Research by 550.8% in the fourth quarter. Kerrisdale Advisers LLC now owns 1,948,003 shares of the specialty retailer’s stock valued at $29,415,000 after acquiring an additional 1,648,685 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in ACM Research by 2,258.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,469,271 shares of the specialty retailer’s stock valued at $22,171,000 after purchasing an additional 1,406,968 shares in the last quarter. Panview Capital Ltd bought a new stake in ACM Research during the fourth quarter worth about $20,758,000. Finally, Pertento Partners LLP lifted its stake in ACM Research by 22.3% during the fourth quarter. Pertento Partners LLP now owns 1,185,037 shares of the specialty retailer’s stock worth $17,894,000 after purchasing an additional 215,744 shares during the last quarter. Hedge funds and other institutional investors own 66.75% 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.