ACM Research, Inc. (NASDAQ:ACMR – Get Free Report)’s stock price was up 4.8% on Wednesday. The stock traded as high as $78.29 and last traded at $79.4030. 540,634 shares changed hands during trading, a decline of 61% from the average daily volume of 1,377,156 shares. The stock had previously closed at $75.80.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Daiwa Securities Group initiated coverage on ACM Research in a research note on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price on the stock. Craig Hallum reiterated a “buy” rating and set a $100.00 price objective on shares of ACM Research in a report on Monday, August 10th. Roth Capital set a $125.00 target price on ACM Research and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Weiss Ratings raised ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $130.00 price target (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, ACM Research has an average rating of “Buy” and a consensus price target of $122.75.
Check Out Our Latest Stock Report on ACMR
ACM Research Stock Down 5.6%
ACM Research (NASDAQ:ACMR – Get Free Report) last announced its earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The business had revenue of $292.92 million for the quarter, compared to analyst estimates of $269.28 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. ACM Research’s revenue was up 36.0% compared to the same quarter last year. On average, analysts predict that ACM Research, Inc. will post 1.68 earnings per share for the current year.
Insider Activity
In related news, Director Haiping Dun sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $81.13, for a total value of $405,650.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $405,650. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David H. Wang sold 70,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total value of $5,221,300.00. Following the completion of the transaction, the insider directly owned 802,708 shares of the company’s stock, valued at approximately $59,873,989.72. This trade represents a 8.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 24.36% of the company’s stock.
Hedge Funds Weigh In On ACM Research
A number of hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC lifted its position in ACM Research by 16,878.8% during the 1st quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock worth $70,583,000 after buying an additional 1,849,914 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in ACM Research by 207.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock worth $28,286,000 after buying an additional 485,282 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of ACM Research during the second quarter valued at $41,402,000. Wellington Management Group LLP acquired a new stake in ACM Research in the second quarter worth about $22,204,000. Finally, First Trust Advisors LP raised its holdings in ACM Research by 73.7% during the 1st quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer’s stock worth $14,716,000 after purchasing an additional 158,664 shares during the last quarter. Institutional investors and hedge funds own 66.75% of the company’s stock.
ACM Research Company Profile
ACM Research, Inc develops, manufactures and sells equipment used in semiconductor manufacturing and advanced packaging. Its products are designed for wafer processing steps that help semiconductor manufacturers clean, prepare and deposit materials on silicon wafers and other substrates.
The company’s product portfolio includes single-wafer cleaning systems, wet-processing equipment, electrochemical deposition systems, furnace systems and equipment for advanced packaging applications. Its cleaning technologies include the Space Alternated Phase Shift (SAPS) and Tahoe platforms, which are intended to remove contaminants and residues while supporting the production of increasingly complex semiconductor devices.
Founded in 1998, ACM Research is headquartered in Fremont, California, and serves semiconductor manufacturers and other customers through operations and facilities in the United States, China and other international markets.
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