ACM Research (NASDAQ:ACMR) Upgraded to “Strong-Buy” at Zacks Research

ACM Research (NASDAQ:ACMR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley reissued 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. Craig Hallum reaffirmed a “buy” rating and set a $100.00 price target on shares of ACM Research in a research report on Monday, August 10th. Weiss Ratings upgraded shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Seaport Research Partners began coverage on shares of ACM Research in a report on Monday, May 4th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Roth Capital set a $125.00 price objective on shares of ACM Research and gave the company a “buy” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $118.33.

ACM Research Price Performance

NASDAQ:ACMR opened at $84.37 on Monday. ACM Research has a 52-week low of $24.14 and a 52-week high of $127.19. The company has a market cap of $5.46 billion, a P/E ratio of 40.18 and a beta of 1.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.66 and a current ratio of 3.66. The stock’s 50-day simple moving average is $91.71 and its 200 day simple moving average is $70.06.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.19. The firm had revenue of $292.92 million for the quarter, compared to analyst estimates of $269.28 million. ACM Research had a net margin of 14.48% and a return on equity of 4.08%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. As a group, sell-side analysts forecast that ACM Research will post 1.68 EPS for the current fiscal year.

Insider Transactions at ACM Research

In related news, insider Sotheara Cheav sold 5,399 shares of ACM Research stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $83.18, for a total transaction of $449,088.82. Following the sale, the insider directly owned 100,002 shares in the company, valued at $8,318,166.36. This trade represents a 5.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David H. Wang sold 40,002 shares of ACM Research stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $85.80, for a total transaction of $3,432,171.60. Following the transaction, the insider owned 802,708 shares in the company, valued at approximately $68,872,346.40. This trade represents a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 118,752 shares of company stock worth $10,421,098 over the last three months. Insiders own 24.36% of the company’s stock.

Institutional Investors Weigh In On ACM Research

A number of hedge funds have recently added to or reduced their stakes in ACMR. Jefferies Financial Group Inc. purchased a new stake in ACM Research in the 4th quarter worth about $1,054,000. Vanguard Group Inc. lifted its holdings in ACM Research by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 4,972,103 shares of the specialty retailer’s stock valued at $196,149,000 after purchasing an additional 125,690 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in ACM Research by 71.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 188,500 shares of the specialty retailer’s stock worth $7,436,000 after purchasing an additional 78,800 shares during the period. Penn Capital Management Company LLC bought a new position in ACM Research during the fourth quarter worth about $17,212,000. Finally, Yong Rong HK Asset Management Ltd purchased a new position in shares of ACM Research in the fourth quarter worth about $2,367,000. 66.75% of the stock is currently owned by institutional investors.

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.