ACM Research (NASDAQ:ACMR) Shares Gap Up – Should You Buy?

ACM Research, Inc. (NASDAQ:ACMR)’s share price gapped up prior to trading on Wednesday. The stock had previously closed at $51.97, but opened at $54.06. ACM Research shares last traded at $54.5040, with a volume of 265,842 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACMR. Weiss Ratings downgraded shares of ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Daiwa Securities Group initiated coverage on ACM Research in a report on Wednesday, August 26th. They set a “buy” rating and a $136.00 price objective on the stock. Zacks Research downgraded shares of ACM Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $100.00 price target on shares of ACM Research in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.75.

ACM Research Trading Up 2.5%

The business’s 50-day simple moving average is $70.34 and its two-hundred day simple moving average is $68.63. The company has a market capitalization of $3.44 billion, a PE ratio of 25.36 and a beta of 2.09.

ACM Research (NASDAQ:ACMR) last announced its earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The business had revenue of $292.92 million during the quarter, compared to analyst estimates of $269.28 million. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. On average, analysts forecast that ACM Research, Inc. will post 1.68 EPS for the current year.

Insider Buying and Selling

In related news, insider David H. Wang sold 70,000 shares of ACM Research stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $74.59, for a total value of $5,221,300.00. Following the transaction, the insider directly owned 802,708 shares in the company, valued at $59,873,989.72. The trade was a 8.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 5,000 shares in the company, valued at approximately $405,650. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 24.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACM Research

Large investors have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in ACM Research by 407.8% during the third quarter. Signaturefd LLC now owns 523 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 420 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of ACM Research by 195.2% during the second quarter. Harbor Investment Advisory LLC now owns 738 shares of the specialty retailer’s stock worth $94,000 after buying an additional 488 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of ACM Research by 381.0% during the first quarter. NewEdge Advisors LLC now owns 1,087 shares of the specialty retailer’s stock worth $43,000 after buying an additional 861 shares during the last quarter. Nykredit A S bought a new stake in shares of ACM Research in the second quarter valued at approximately $173,000. Finally, GAMMA Investing LLC boosted its position in shares of ACM Research by 14.5% in the second 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 period. 66.75% of the stock is currently owned by institutional investors.

About ACM Research

ACM Research, Inc (NASDAQ: ACMR) develops and manufactures equipment used in semiconductor wafer processing. Its systems are designed to support the fabrication of integrated circuits and other electronic components, with a primary focus on cleaning and other process steps performed during semiconductor manufacturing.

The company’s product portfolio includes single-wafer cleaning systems, wet-cleaning equipment, electrochemical plating systems, and other wafer-processing tools. These products are used by semiconductor manufacturers and foundries in applications involving advanced logic, memory, and specialty devices.