ACM Research, Inc. (NASDAQ:ACMR) Director Chenming Hu Sells 163,308 Shares

ACM Research, Inc. (NASDAQ:ACMR) Director Chenming Hu sold 163,308 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.00, for a total value of $4,899,240.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ACM Research Stock Performance

Shares of ACMR traded down $0.58 during trading hours on Wednesday, hitting $29.22. The stock had a trading volume of 900,089 shares, compared to its average volume of 1,382,461. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.37 and a quick ratio of 1.34. ACM Research, Inc. has a 12 month low of $13.87 and a 12 month high of $33.40. The firm has a market capitalization of $1.70 billion, a PE ratio of 22.14 and a beta of 1.61. The stock has a fifty day moving average price of $22.71 and a 200 day moving average price of $19.43.

Analyst Ratings Changes

ACMR has been the topic of several recent analyst reports. Craig Hallum raised ACM Research from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. began 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. Finally, Needham & Company LLC restated a “hold” rating on shares of ACM Research in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ACM Research has an average rating of “Moderate Buy” and an average target price of $29.40.

Institutional Trading of ACM Research

Several hedge funds have recently bought and sold shares of ACMR. Quest Partners LLC lifted its position in shares of ACM Research by 156.4% in the third quarter. Quest Partners LLC now owns 19,481 shares of the specialty retailer’s stock valued at $395,000 after acquiring an additional 11,883 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of ACM Research in the 3rd quarter worth about $254,000. Charles Schwab Investment Management Inc. increased its stake 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 worth $8,239,000 after buying an additional 13,879 shares during the period. Citigroup Inc. increased its stake in ACM Research by 8.7% in the 3rd quarter. Citigroup Inc. now owns 340,207 shares of the specialty retailer’s stock worth $6,906,000 after buying an additional 27,178 shares during the period. Finally, Algert Global LLC increased its position in ACM Research by 530.5% during the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock valued at $3,611,000 after purchasing an additional 149,670 shares during the period. Institutional investors own 66.75% 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.