ACM Research (NASDAQ:ACMR) Shares Gap Up – Here’s Why

ACM Research, Inc. (NASDAQ:ACMR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $98.07, but opened at $107.00. ACM Research shares last traded at $107.3840, with a volume of 262,304 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of ACM Research from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of ACM Research from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research cut shares of ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Seaport Research Partners began coverage on ACM Research in a report on Monday, May 4th. They set a “buy” rating and a $75.00 price objective for the company. Finally, 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 report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, ACM Research presently has an average rating of “Moderate Buy” and an average target price of $127.50.

ACM Research Trading Down 2.9%

The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 78.63 and a beta of 1.90. The business’s 50-day moving average price is $86.11 and its 200 day moving average price is $63.18. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.51 and a quick ratio of 2.52.

ACM Research (NASDAQ:ACMR) last released its quarterly earnings results on Thursday, May 7th. The specialty retailer reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. ACM Research had a net margin of 9.48% and a return on equity of 4.17%. The business had revenue of $231.26 million during the quarter, compared to analyst estimates of $215.69 million. During the same period last year, the business earned $0.46 EPS. The business’s revenue was up 34.2% on a year-over-year basis. On average, equities analysts forecast that ACM Research, Inc. will post 1.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ACM Research news, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $66.22, for a total transaction of $331,100.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at $331,100. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles C. Pappis sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.00, for a total value of $260,000.00. Following the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $260,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 128,752 shares of company stock valued at $11,012,198 over the last ninety days. Insiders own 24.36% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of institutional investors have recently made changes to their positions in ACMR. Handelsbanken Fonder AB boosted its stake in shares of ACM Research by 31.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 20,900 shares of the specialty retailer’s stock valued at $2,652,000 after buying an additional 5,000 shares during the last quarter. Key Client Fiduciary Advisors LLC bought a new stake in shares of ACM Research in the second quarter worth $252,000. Contravisory Investment Management Inc. raised its holdings in ACM Research by 2.3% in the second quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the specialty retailer’s stock valued at $662,000 after acquiring an additional 115 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in ACM Research in the second quarter valued at $888,000. Finally, GAMMA Investing LLC boosted its stake in ACM Research by 14.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer’s stock valued at $183,000 after acquiring an additional 182 shares during the last quarter. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Company Profile

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.