ACM Research (NASDAQ:ACMR) Shares Gap Up – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMRGet Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $98.07, but opened at $107.00. ACM Research shares last traded at $107.3840, with a volume of 262,304 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ACMR shares. Wall Street Zen upgraded ACM Research from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley restated an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Roth Capital set a $125.00 price target on ACM Research and gave the company a “buy” rating in a research note on Wednesday, June 17th. Zacks Research downgraded ACM Research from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $127.50.

Get Our Latest Research Report on ACMR

ACM Research Trading Up 10.1%

The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 2.52. The firm has a market cap of $6.61 billion, a PE ratio of 82.49 and a beta of 1.90. The company’s 50 day moving average price is $83.89 and its 200 day moving average price is $62.43.

ACM Research (NASDAQ:ACMRGet Free Report) last announced its earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The firm had revenue of $231.26 million for the quarter, compared to the consensus estimate of $215.69 million. During the same period in the prior year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts forecast that ACM Research, Inc. will post 1.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Haiping Dun sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total transaction of $331,100.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $331,100. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sotheara Cheav sold 5,399 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $83.18, for a total value of $449,088.82. Following the sale, the insider owned 100,002 shares in the company, valued at approximately $8,318,166.36. This trade represents a 5.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 128,752 shares of company stock worth $11,012,198 over the last ninety days. Insiders own 24.36% of the company’s stock.

Hedge Funds Weigh In On ACM Research

Several hedge funds and other institutional investors have recently made changes to their positions in ACMR. Farther Finance Advisors LLC increased its stake in shares of ACM Research by 90.1% during the fourth quarter. Farther Finance Advisors LLC now owns 650 shares of the specialty retailer’s stock worth $26,000 after buying an additional 308 shares during the period. Hantz Financial Services Inc. lifted its stake in ACM Research by 266.7% in the fourth quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 480 shares during the last quarter. Leonteq Securities AG purchased a new position in ACM Research in the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in ACM Research by 656.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,293 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 1,122 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in ACM Research by 38.8% during the 4th quarter. GAMMA Investing LLC now owns 1,070 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 66.75% of the company’s stock.

About ACM Research

(Get Free Report)

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.

Further Reading

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