Sierra Summit Advisors LLC Has $671,000 Stock Position in ACM Research, Inc. (NASDAQ:ACMR)

Sierra Summit Advisors LLC grew its position in ACM Research, Inc. (NASDAQ:ACMR) by 49.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,080 shares of the specialty retailer’s stock after purchasing an additional 9,583 shares during the period. Sierra Summit Advisors LLC owned about 0.05% of ACM Research worth $671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACMR. Federated Hermes Inc. grew its stake in shares of ACM Research by 453.7% in the 2nd quarter. Federated Hermes Inc. now owns 6,002 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 4,918 shares in the last quarter. TradeLink Capital LLC bought a new stake in ACM Research in the second quarter worth approximately $362,000. American Century Companies Inc. increased its stake in shares of ACM Research by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 110,299 shares of the specialty retailer’s stock worth $2,543,000 after purchasing an additional 13,426 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in shares of ACM Research by 1.5% during the 2nd quarter. ClariVest Asset Management LLC now owns 131,914 shares of the specialty retailer’s stock valued at $3,042,000 after purchasing an additional 1,964 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. lifted its stake in shares of ACM Research by 17.5% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 33,956 shares of the specialty retailer’s stock valued at $783,000 after purchasing an additional 5,047 shares during the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ACMR. Roth Mkm cut their target price on ACM Research from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACM Research in a report on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and set a $38.00 price target on shares of ACM Research in a report on Wednesday, August 7th.

ACM Research Trading Up 3.3 %

Shares of NASDAQ:ACMR opened at $16.80 on Monday. ACM Research, Inc. has a 52-week low of $12.53 and a 52-week high of $34.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.26 and a current ratio of 2.29. The company has a market cap of $957.38 million, a P/E ratio of 12.73 and a beta of 1.52. The stock’s 50-day moving average is $19.10 and its 200-day moving average is $23.69.

ACM Research (NASDAQ:ACMR) last released its earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.25. ACM Research had a return on equity of 9.16% and a net margin of 12.26%. The firm had revenue of $202.50 million for the quarter, compared to analyst estimates of $163.05 million. During the same quarter last year, the firm posted $0.45 EPS. The company’s revenue was up 40.0% on a year-over-year basis. Equities research analysts predict that ACM Research, Inc. will post 0.92 earnings per share for the current year.

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.