ACM Research (NASDAQ:ACMR) Shares Gap Up After Better-Than-Expected Earnings

ACM Research, Inc. (NASDAQ:ACMR)’s share price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $22.94, but opened at $27.67. ACM Research shares last traded at $27.28, with a volume of 2,157,516 shares.

The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.12. ACM Research had a return on equity of 9.07% and a net margin of 12.38%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Craig Hallum downgraded ACM Research from a “buy” rating to a “hold” rating and dropped their price target for the stock from $30.00 to $18.00 in a research report on Thursday, December 5th. Needham & Company LLC lowered ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Buying and Selling

In other ACM Research news, insider Sotheara Cheav sold 22,598 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $23.00, for a total transaction of $519,754.00. Following the completion of the sale, the insider now owns 100,002 shares of the company’s stock, valued at approximately $2,300,046. The trade was a 18.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in shares of ACM Research by 0.8% during the 4th quarter. Rhumbline Advisers now owns 73,739 shares of the specialty retailer’s stock valued at $1,113,000 after buying an additional 589 shares during the period. Beacon Financial Advisory LLC raised its stake in shares of ACM Research by 7.1% during the fourth quarter. Beacon Financial Advisory LLC now owns 14,495 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 960 shares during the period. Arizona State Retirement System lifted its position in shares of ACM Research by 7.3% during the fourth quarter. Arizona State Retirement System now owns 14,964 shares of the specialty retailer’s stock worth $226,000 after purchasing an additional 1,017 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ACM Research by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,996 shares of the specialty retailer’s stock valued at $438,000 after purchasing an additional 1,061 shares during the period. Finally, Picton Mahoney Asset Management grew its holdings in ACM Research by 66.2% during the 4th quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Price Performance

The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.57 billion, a PE ratio of 20.87 and a beta of 1.58. The company’s 50 day moving average is $18.91 and its 200-day moving average is $18.53.

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.