Palouse Capital Management Inc. Trims Stock Holdings in ACM Research, Inc. (NASDAQ:ACMR)

Palouse Capital Management Inc. trimmed its holdings in ACM Research, Inc. (NASDAQ:ACMR) by 36.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,907 shares of the specialty retailer’s stock after selling 1,664 shares during the quarter. Palouse Capital Management Inc.’s holdings in ACM Research were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC grew its stake in ACM Research by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,741 shares of the specialty retailer’s stock valued at $23,973,000 after buying an additional 26,620 shares in the last quarter. Portolan Capital Management LLC boosted its holdings in ACM Research by 7.7% in the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock valued at $18,705,000 after purchasing an additional 65,616 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ACM Research by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,858 shares of the specialty retailer’s stock valued at $8,239,000 after purchasing an additional 13,879 shares during the period. SG Americas Securities LLC bought a new position in ACM Research in the 4th quarter valued at $5,782,000. Finally, Citigroup Inc. boosted its holdings in ACM Research by 8.7% in the 3rd quarter. Citigroup Inc. now owns 340,207 shares of the specialty retailer’s stock valued at $6,906,000 after purchasing an additional 27,178 shares during the period. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Needham & Company LLC downgraded shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Wednesday, December 4th. Craig Hallum downgraded shares of ACM Research from a “buy” rating to a “hold” rating and cut their price target 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

ACM Research Stock Performance

NASDAQ ACMR opened at $23.78 on Friday. ACM Research, Inc. has a 52-week low of $13.87 and a 52-week high of $34.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37. The company has a market capitalization of $1.37 billion, a P/E ratio of 18.02 and a beta of 1.58. The company has a fifty day moving average of $17.61 and a 200-day moving average of $18.14.

Insider Transactions at ACM Research

In other ACM Research news, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $19.08, for a total value of $1,073,250.00. Following the completion of the sale, the insider now directly owns 710,506 shares of the company’s stock, valued at $13,556,454.48. The trade was a 7.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sotheara Cheav sold 22,598 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 100,002 shares of the company’s stock, valued at $2,300,046. This represents a 18.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,098 shares of company stock valued at $2,886,117. Insiders own 31.24% of the company’s stock.

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.