ACM Research (NASDAQ:ACMR) Shares Gap Up – Time to Buy?

by · The Markets Daily

Shares of ACM Research, Inc. (NASDAQ:ACMR – Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $75.95, but opened at $78.71. ACM Research shares last traded at $76.63, with a volume of 53,434 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACMR. Roth Capital set a $125.00 price objective on ACM Research and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Craig Hallum reaffirmed a “buy” rating and set a $100.00 price target on shares of ACM Research in a research note on Monday, August 10th. Zacks Research raised shares of ACM Research from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $130.00 target price (up from $90.00) on shares of ACM Research in a research note on Tuesday, June 23rd. Finally, Daiwa Securities Group began coverage on ACM Research in a research report on Wednesday, August 26th. They issued a “buy” rating and a $136.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, ACM Research has an average rating of “Buy” and a consensus price target of $122.75.

Read Our Latest Report on ACMR

ACM Research Trading Down 0.6%

The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 35.86 and a beta of 1.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66. The business has a fifty day moving average price of $77.03 and a 200 day moving average price of $73.03.

ACM Research (NASDAQ:ACMR – Get Free Report) last issued its earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share 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 firm had revenue of $292.92 million for the quarter, compared to analysts’ expectations of $269.28 million. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. As a group, equities analysts forecast 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 stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $81.13, for a total transaction of $405,650.00. Following the completion of the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $405,650. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David H. Wang sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were 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 $59,873,989.72. The trade was a 8.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 24.36% of the company’s stock.

Institutional Investors Weigh In On ACM Research

Large investors have recently made changes to their positions in the business. WCM Investment Management LLC lifted its holdings in shares of 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 valued at $70,583,000 after acquiring an additional 1,849,914 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in ACM Research by 207.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock valued at $28,286,000 after purchasing an additional 485,282 shares in the last quarter. Bank of America Corp DE raised its position in ACM Research by 33.4% in the first quarter. Bank of America Corp DE now owns 402,412 shares of the specialty retailer’s stock valued at $15,835,000 after purchasing an additional 100,700 shares during the period. First Trust Advisors LP raised its position in ACM Research by 73.7% in the first quarter. First Trust Advisors LP now owns 373,987 shares of the specialty retailer’s stock valued at $14,716,000 after purchasing an additional 158,664 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in ACM Research in the second quarter valued at about $41,402,000. Institutional investors and hedge funds own 66.75% of the company’s stock.

About ACM Research

(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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