Russell Investments Group Ltd. trimmed its stake in ACM Research Inc (NASDAQ:ACMR) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,068 shares of the specialty retailer’s stock after selling 12,301 shares during the period. Russell Investments Group Ltd. owned approximately 0.53% of ACM Research worth $819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACMR. BlackRock Inc. acquired a new stake in ACM Research during the 2nd quarter worth $4,335,000. Schwab Charles Investment Management Inc. acquired a new stake in ACM Research during the 2nd quarter worth $162,000. Bank of New York Mellon Corp acquired a new stake in ACM Research during the 2nd quarter worth $188,000. Finally, Northern Trust Corp acquired a new stake in ACM Research during the 2nd quarter worth $877,000. 11.92% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of ACM Research from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research note on Monday, November 12th. ValuEngine upgraded shares of ACM Research from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. ACM Research currently has an average rating of “Buy” and an average price target of $17.13.

ACMR stock opened at $10.78 on Thursday. ACM Research Inc has a one year low of $4.74 and a one year high of $15.60. The firm has a market capitalization of $149.87 million and a PE ratio of 18.03.

ACM Research (NASDAQ:ACMR) last released its earnings results on Thursday, November 8th. The specialty retailer reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.18. ACM Research had a net margin of 10.81% and a return on equity of 22.42%. The company had revenue of $23.18 million during the quarter, compared to analysts’ expectations of $20.00 million. Equities research analysts expect that ACM Research Inc will post 0.31 earnings per share for the current fiscal year.

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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 of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces in a uniform manner on a microscopic level; timely energized bubble oscillation cleaning equipment for conventional two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.

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Institutional Ownership by Quarter for ACM Research (NASDAQ:ACMR)

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