The California State Teachers Retirement System (CalSTRS) increased its position in semiconductor equipment maker ACM Research (ACMR) by 11,899.8% during the second quarter.
The pension fund purchased an additional 7,512,456 shares during this period. CalSTRS now holds a total of 7,575,587 shares in the company.
This acquisition makes CalSTRS a major shareholder with an 11.72% stake. The total value of the position reached $961,266,000 at the end of the quarter.
The investment signals institutional confidence in the company's long-term growth potential. Market reaction remains pending as the news broke over the weekend.