Pinpoint Asset Management Ltd Has $1.62 Million Position in ACM Research, Inc. (NASDAQ:ACMR)

Pinpoint Asset Management Ltd cut its stake in ACM Research, Inc. (NASDAQ:ACMR) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,046 shares of the specialty retailer’s stock after selling 15,671 shares during the quarter. Pinpoint Asset Management Ltd owned 0.19% of ACM Research worth $1,616,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Erste Asset Management GmbH bought a new stake in ACM Research in the third quarter valued at approximately $37,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ACM Research in the 4th quarter valued at $33,000. Picton Mahoney Asset Management increased its position in shares of ACM Research by 66.2% in the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock valued at $47,000 after buying an additional 1,236 shares in the last quarter. Ieq Capital LLC acquired a new stake in ACM Research during the 4th quarter worth $162,000. Finally, Intech Investment Management LLC bought a new position in ACM Research during the third quarter worth about $254,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. 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. Craig Hallum upgraded shares of ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ACM Research in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, ACM Research has a consensus rating of “Moderate Buy” and an average price target of $29.40.

ACM Research Stock Down 4.4 %

NASDAQ:ACMR opened at $22.35 on Friday. The stock has a 50-day simple moving average of $24.55 and a 200 day simple moving average of $20.12. ACM Research, Inc. has a 52-week low of $13.87 and a 52-week high of $33.40. The company has a market cap of $1.30 billion, a PE ratio of 16.93 and a beta of 1.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

Insiders Place Their Bets

In other news, Director Chenming Hu sold 163,308 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.00, for a total transaction of $4,899,240.00. Following the completion of the transaction, the director now directly owns 100,002 shares in the company, valued at $3,000,060. This represents a 62.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David H. Wang sold 56,250 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $26.57, for a total value of $1,494,562.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 289,174 shares of company stock valued at $8,213,329 in the last quarter. 31.24% of the stock is currently owned by insiders.

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.