ACM Research (NASDAQ:ACMR) Shares Up 6.4% – Here’s What Happened

Shares of ACM Research, Inc. (NASDAQ:ACMR – Get Free Report) shot up 6.4% on Wednesday. The company traded as high as $80.76 and last traded at $80.4660. Approximately 711,647 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 1,376,969 shares. The stock had previously closed at $75.61.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ACMR shares. Daiwa Securities Group began coverage on ACM Research in a report on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $130.00 price target (up from $90.00) on shares of ACM Research in a report on Tuesday, June 23rd. Weiss Ratings downgraded shares of ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Roth Capital set a $125.00 price objective on shares of ACM Research and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, Zacks Research raised shares of ACM Research from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $122.75.

View Our Latest Stock Analysis on ACM Research

ACM Research Stock Up 6.5%

The company has a quick ratio of 2.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $76.63 and a 200 day simple moving average of $73.22. The firm has a market capitalization of $5.21 billion, a P/E ratio of 38.37 and a beta of 1.96.

ACM Research (NASDAQ:ACMR – Get Free Report) last released its earnings results on Friday, August 7th. The specialty retailer reported $0.61 EPS for the quarter, topping 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 firm had revenue of $292.92 million for the quarter, compared to analysts’ expectations of $269.28 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 36.0% on a year-over-year basis. On average, equities analysts expect that ACM Research, Inc. will post 1.68 EPS for the current fiscal year.

Insider Activity

In other ACM Research news, Director Haiping Dun sold 5,000 shares of ACM Research stock in a transaction dated Tuesday, August 18th. The shares were 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 of the company’s stock, valued at approximately $405,650. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David H. Wang sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total transaction of $5,221,300.00. Following the completion of the transaction, the insider owned 802,708 shares in the company, valued at approximately $59,873,989.72. This represents a 8.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 24.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACMR. Hantz Financial Services Inc. lifted its holdings in shares of ACM Research by 266.7% during the fourth quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 480 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in ACM Research by 195.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 738 shares of the specialty retailer’s stock worth $94,000 after buying an additional 488 shares in the last quarter. NewEdge Advisors LLC raised its position in ACM Research by 381.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,087 shares of the specialty retailer’s stock worth $43,000 after buying an additional 861 shares during the last quarter. Nykredit A S purchased a new position in ACM Research in the 2nd quarter worth about $173,000. Finally, GAMMA Investing LLC lifted its stake in ACM Research by 14.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer’s stock valued at $183,000 after acquiring an additional 182 shares during the period. Hedge funds and other institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

(Get Free Report)

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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