ACM Research (NASDAQ:ACMR) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised ACM Research from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, July 10th. Benchmark reaffirmed a “buy” rating and issued a $16.00 price objective on shares of ACM Research in a report on Wednesday, August 8th. Finally, Craig Hallum boosted their price target on ACM Research from $13.00 to $19.50 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. ACM Research currently has a consensus rating of “Buy” and a consensus target price of $17.13.
Shares of ACMR opened at $10.02 on Thursday. ACM Research has a twelve month low of $4.74 and a twelve month high of $15.60. The company has a market capitalization of $132.23 million and a price-to-earnings ratio of 52.74.
ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.11. ACM Research had a return on equity of 14.90% and a net margin of 5.43%. The company had revenue of $20.87 million for the quarter, compared to analyst estimates of $19.70 million. As a group, equities research analysts forecast that ACM Research will post 0.25 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Northern Trust Corp purchased a new stake in shares of ACM Research during the 2nd quarter worth approximately $877,000. Bank of New York Mellon Corp purchased a new stake in shares of ACM Research during the 2nd quarter worth approximately $188,000. BlackRock Inc. purchased a new stake in shares of ACM Research during the 2nd quarter worth approximately $4,335,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of ACM Research during the 2nd quarter worth approximately $162,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of ACM Research during the 2nd quarter worth approximately $931,000. 12.55% of the stock is currently owned by institutional investors and hedge funds.
ACM Research Company Profile
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 of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces in a uniform manner on a microscopic level; timely energized bubble oscillation cleaning equipment for conventional two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.
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