ACM Research (NASDAQ:ACMR – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
A number of other equities research analysts also recently weighed in on ACMR. Seaport Research Partners assumed coverage on ACM Research in a report on Monday, May 4th. They set a “buy” rating and a $75.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Craig Hallum reiterated a “buy” rating and issued a $100.00 price objective on shares of ACM Research in a research note on Monday, August 10th. Weiss Ratings raised shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of ACM Research from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $118.33.
ACM Research Price Performance
ACM Research (NASDAQ:ACMR – Get Free Report) last released its quarterly earnings data on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The company had revenue of $292.92 million during the quarter, compared to analysts’ expectations of $269.28 million. During the same period last year, the firm posted $0.54 earnings per share. The business’s revenue was up 36.0% on a year-over-year basis. On average, research analysts forecast that ACM Research will post 1.68 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider David H. Wang sold 60,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $90.05, for a total value of $5,403,000.00. Following the completion of the transaction, the insider directly owned 802,708 shares in the company, valued at approximately $72,283,855.40. This represents a 6.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sotheara Cheav sold 13,351 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $85.15, for a total value of $1,136,837.65. Following the sale, the insider directly owned 100,002 shares in the company, valued at approximately $8,515,170.30. This trade represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 118,752 shares of company stock valued at $10,421,098. 24.36% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ACM Research
A number of hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new stake in ACM Research in the fourth quarter worth about $1,054,000. Vanguard Group Inc. grew its position in shares of ACM Research by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 4,972,103 shares of the specialty retailer’s stock valued at $196,149,000 after acquiring an additional 125,690 shares during the period. Thompson Siegel & Walmsley LLC grew its position in shares of ACM Research by 71.8% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 188,500 shares of the specialty retailer’s stock valued at $7,436,000 after acquiring an additional 78,800 shares during the period. Penn Capital Management Company LLC purchased a new stake in shares of ACM Research during the 4th quarter worth approximately $17,212,000. Finally, Yong Rong HK Asset Management Ltd bought a new stake in shares of ACM Research in the 4th quarter worth approximately $2,367,000. Institutional investors and hedge funds own 66.75% of the company’s stock.
ACM Research Company Profile
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.
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