ACM Research Inc (NASDAQ:ACMR) Shares Acquired by Wells Fargo & Company MN
Wells Fargo & Company MN grew its holdings in ACM Research Inc (NASDAQ:ACMR) by 106.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,341 shares of the specialty retailer’s stock after acquiring an additional 4,808 shares during the quarter. Wells Fargo & Company MN owned 0.07% of ACM Research worth $146,000 at the end of the most recent reporting period.
Separately, BNP Paribas Arbitrage SA acquired a new stake in ACM Research in the first quarter worth about $28,000. 12.25% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on ACMR. Needham & Company LLC began coverage on ACM Research in a report on Monday, August 19th. They issued a “buy” rating and a $20.00 price target for the company. ValuEngine downgraded ACM Research from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded ACM Research from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Stifel Nicolaus began coverage on ACM Research in a report on Thursday, August 22nd. They issued a “buy” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.60.
ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.15. ACM Research had a return on equity of 26.29% and a net margin of 13.16%. The firm had revenue of $29.01 million during the quarter, compared to analysts’ expectations of $25.40 million. As a group, equities analysts anticipate that ACM Research Inc will post 0.66 EPS for the current fiscal year.
ACM Research Company 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 two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.
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