Principal Financial Group Inc. Grows Stock Position in ACM Research, Inc. $ACMR

by · The Cerbat Gem

Principal Financial Group Inc. increased its stake in ACM Research, Inc. (NASDAQ:ACMR – Free Report) by 396.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 336,993 shares of the specialty retailer’s stock after buying an additional 269,094 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of ACM Research worth $13,187,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in ACM Research by 656.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 1,122 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of ACM Research in the second quarter worth approximately $114,000. Strs Ohio purchased a new stake in shares of ACM Research in the first quarter worth approximately $133,000. Lazard Asset Management LLC lifted its stake in shares of ACM Research by 27.9% during the 2nd quarter. Lazard Asset Management LLC now owns 5,245 shares of the specialty retailer’s stock worth $135,000 after acquiring an additional 1,145 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in ACM Research by 7.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,076 shares of the specialty retailer’s stock valued at $157,000 after acquiring an additional 416 shares during the period. Institutional investors own 66.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ACMR shares. Roth Mkm reiterated a “buy” rating and issued a $40.00 target price on shares of ACM Research in a research note on Wednesday, November 5th. Weiss Ratings raised shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, Zacks Research upgraded shares of ACM Research from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ACM Research currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Check Out Our Latest Research Report on ACMR

ACM Research Price Performance

ACMR opened at $62.92 on Wednesday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 36.58 and a beta of 1.49. The company has a current ratio of 3.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.10. ACM Research, Inc. has a 12-month low of $16.82 and a 12-month high of $64.79. The business’s fifty day simple moving average is $46.97 and its 200-day simple moving average is $38.06.

Insiders Place Their Bets

In other news, insider Fuping Chen sold 100,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $33.20, for a total transaction of $3,320,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David H. Wang sold 70,000 shares of ACM Research stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $33.06, for a total transaction of $2,314,200.00. Following the transaction, the insider directly owned 802,708 shares in the company, valued at approximately $26,537,526.48. The trade was a 8.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 265,000 shares of company stock worth $8,849,150 in the last three months. Corporate insiders own 25.00% of the company’s stock.

ACM Research Company Profile

(Free Report)

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.

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