ACM Research (NASDAQ:ACMR) Shares Up 7.7% – Here’s What Happened

ACM Research, Inc. (NASDAQ:ACMR)’s stock price rose 7.7% on Thursday . The stock traded as high as $22.40 and last traded at $22.45. Approximately 1,300,527 shares changed hands during trading, a decline of 4% from the average daily volume of 1,352,610 shares. The stock had previously closed at $20.85.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Needham & Company LLC cut shares of ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research note on Wednesday, December 4th. Craig Hallum cut shares of ACM Research from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $18.00 in a report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

ACM Research Stock Performance

The business has a fifty day moving average price of $16.61 and a 200-day moving average price of $17.95. The stock has a market capitalization of $1.31 billion, a P/E ratio of 17.17 and a beta of 1.58. The company has a quick ratio of 1.34, a current ratio of 2.37 and a debt-to-equity ratio of 0.10.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The firm had revenue of $204.00 million for the quarter, compared to the consensus estimate of $191.18 million. During the same quarter last year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, sell-side analysts expect that ACM Research, Inc. will post 1.17 EPS for the current year.

Insider Activity at ACM Research

In related news, insider David H. Wang sold 56,250 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $17.89, for a total transaction of $1,006,312.50. Following the completion of the sale, the insider now directly owns 654,256 shares in the company, valued at approximately $11,704,639.84. The trade was a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Haiping Dun sold 15,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $19.12, for a total transaction of $286,800.00. Following the completion of the transaction, the director now owns 774,148 shares in the company, valued at $14,801,709.76. The trade was a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,500 shares of company stock worth $2,366,363 over the last quarter. Company insiders own 31.24% of the company’s stock.

Institutional Investors Weigh In On ACM Research

Hedge funds have recently modified their holdings of the business. Panview Capital Ltd purchased a new position in ACM Research during the fourth quarter valued at $20,758,000. SG Americas Securities LLC purchased a new position in shares of ACM Research during the 4th quarter valued at about $5,782,000. Yong Rong HK Asset Management Ltd bought a new position in shares of ACM Research during the 4th quarter valued at approximately $2,265,000. Algert Global LLC increased its holdings in ACM Research by 530.5% in the 3rd quarter. Algert Global LLC now owns 177,885 shares of the specialty retailer’s stock worth $3,611,000 after acquiring an additional 149,670 shares in the last quarter. Finally, Portolan Capital Management LLC raised its stake in ACM Research by 7.7% during the 3rd quarter. Portolan Capital Management LLC now owns 921,451 shares of the specialty retailer’s stock worth $18,705,000 after acquiring an additional 65,616 shares during the period. Institutional investors own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.