ACM Research (NASDAQ:ACMR) Trading 4.8% Higher – What’s Next?

Shares of ACM Research, Inc. (NASDAQ:ACMR) shot up 4.8% on Wednesday . The stock traded as high as $78.29 and last traded at $79.4030. 540,634 shares were traded during trading, a decline of 61% from the average session volume of 1,377,156 shares. The stock had previously closed at $75.80.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Roth Capital set a $125.00 price target on ACM Research and gave the company a “buy” rating in a research note on Wednesday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $130.00 price objective (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Craig Hallum reaffirmed a “buy” rating and issued a $100.00 price target on shares of ACM Research in a research note on Monday, August 10th. Finally, Zacks Research raised ACM Research from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, ACM Research currently has an average rating of “Buy” and an average target price of $122.75.

ACM Research Price Performance

The business’s fifty day moving average is $77.68 and its 200 day moving average is $72.17. The company has a market cap of $5.22 billion, a P/E ratio of 38.45 and a beta of 1.96. The company has a current ratio of 3.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.08.

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

Insiders Place Their Bets

In other news, insider David H. Wang sold 70,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $74.59, for a total value of $5,221,300.00. Following the transaction, the insider owned 802,708 shares of the company’s stock, valued at $59,873,989.72. This represents a 8.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $81.13, for a total transaction of $405,650.00. Following the sale, the director owned 5,000 shares in the company, valued at approximately $405,650. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 24.36% of the company’s stock.

Hedge Funds Weigh In On ACM Research

Several institutional investors and hedge funds have recently made changes to their positions in ACMR. WCM Investment Management LLC grew its stake in shares of ACM Research by 16,878.8% during the first quarter. WCM Investment Management LLC now owns 1,860,874 shares of the specialty retailer’s stock valued at $70,583,000 after buying an additional 1,849,914 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in ACM Research in the 2nd quarter worth approximately $41,402,000. Dimensional Fund Advisors LP lifted its position in ACM Research by 207.6% in the first quarter. Dimensional Fund Advisors LP now owns 719,023 shares of the specialty retailer’s stock valued at $28,286,000 after purchasing an additional 485,282 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of ACM Research in the second quarter worth approximately $22,204,000. Finally, Penn Capital Management Company LLC purchased a new position in shares of ACM Research in the fourth quarter worth $17,212,000. Institutional investors own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc develops, manufactures and sells equipment used in semiconductor manufacturing and advanced packaging. Its products are designed for wafer processing steps that help semiconductor manufacturers clean, prepare and deposit materials on silicon wafers and other substrates.

The company’s product portfolio includes single-wafer cleaning systems, wet-processing equipment, electrochemical deposition systems, furnace systems and equipment for advanced packaging applications. Its cleaning technologies include the Space Alternated Phase Shift (SAPS) and Tahoe platforms, which are intended to remove contaminants and residues while supporting the production of increasingly complex semiconductor devices.

Founded in 1998, ACM Research is headquartered in Fremont, California, and serves semiconductor manufacturers and other customers through operations and facilities in the United States, China and other international markets.