ACM Research (NASDAQ:ACMR) Trading 6.7% Higher

ACM Research, Inc. (NASDAQ:ACMR) shares rose 6.7% during trading on Tuesday . The company traded as high as $27.49 and last traded at $27.48. Approximately 413,880 shares were traded during trading, a decline of 75% from the average daily volume of 1,650,559 shares. The stock had previously closed at $25.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACMR. Benchmark boosted their price objective on ACM Research from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Roth Mkm raised their target price on ACM Research from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC upped their price target on ACM Research from $24.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group upgraded ACM Research from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $31.88.

ACM Research Stock Performance

The company has a market capitalization of $1.59 billion, a P/E ratio of 24.06 and a beta of 1.39. The company’s fifty day moving average is $27.69 and its 200 day moving average is $21.37. The company has a current ratio of 2.35, a quick ratio of 1.26 and a debt-to-equity ratio of 0.06.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.27. ACM Research had a return on equity of 9.23% and a net margin of 13.87%. The firm had revenue of $170.30 million for the quarter, compared to analysts’ expectations of $149.54 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue was up 57.0% on a year-over-year basis. As a group, equities analysts anticipate that ACM Research, Inc. will post 1.22 earnings per share for the current year.

Insiders Place Their Bets

In other ACM Research news, insider Sotheara Cheav sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.09, for a total value of $145,450.00. Following the sale, the insider now owns 105,002 shares of the company’s stock, valued at approximately $3,054,508.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Tracy Liu sold 12,500 shares of ACM Research stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $25.20, for a total transaction of $315,000.00. Following the completion of the sale, the director now directly owns 110,772 shares of the company’s stock, valued at approximately $2,791,454.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sotheara Cheav sold 5,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $29.09, for a total value of $145,450.00. Following the completion of the transaction, the insider now directly owns 105,002 shares in the company, valued at approximately $3,054,508.18. The disclosure for this sale can be found here. Insiders have sold 149,434 shares of company stock worth $4,375,572 in the last three months. 33.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ariose Capital Management Ltd raised its holdings in shares of ACM Research by 163.8% during the 4th quarter. Ariose Capital Management Ltd now owns 1,980,671 shares of the specialty retailer’s stock valued at $38,702,000 after buying an additional 1,229,839 shares in the last quarter. Panview Asian Equity Master Fund lifted its holdings in shares of ACM Research by 264.7% in the 4th quarter. Panview Asian Equity Master Fund now owns 1,057,753 shares of the specialty retailer’s stock worth $20,668,000 after acquiring an additional 767,753 shares during the last quarter. Prelude Capital Management LLC bought a new stake in shares of ACM Research in the 4th quarter worth approximately $8,640,000. Vanguard Group Inc. boosted its stake in shares of ACM Research by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,082,835 shares of the specialty retailer’s stock valued at $73,920,000 after purchasing an additional 399,854 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ACM Research by 1,084.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 286,424 shares of the specialty retailer’s stock valued at $5,186,000 after purchasing an additional 262,235 shares during the last quarter. 66.75% of the stock is currently owned by hedge funds and other institutional investors.

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 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.