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

Shares of ACM Research, Inc. (NASDAQ:ACMR) gapped up prior to trading on Tuesday. The stock had previously closed at $75.95, but opened at $78.71. ACM Research shares last traded at $76.63, with a volume of 53,434 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on ACMR shares. Daiwa Securities Group initiated coverage on ACM Research in a report on Wednesday, August 26th. They issued a “buy” rating and a $136.00 price target for the company. Craig Hallum reiterated a “buy” rating and set a $100.00 price objective on shares of ACM Research in a research note on Monday, August 10th. Morgan Stanley reissued an “overweight” rating and set a $130.00 target price (up from $90.00) on shares of ACM Research in a research report on Tuesday, June 23rd. Roth Capital set a $125.00 price target on shares of ACM Research and gave the company a “buy” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings downgraded shares of ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, ACM Research has a consensus rating of “Buy” and a consensus price target of $122.75.

ACM Research Trading Down 0.6%

The business has a 50 day simple moving average of $77.03 and a two-hundred day simple moving average of $73.03. The company has a current ratio of 3.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.08. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 35.86 and a beta of 1.96.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data 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. ACM Research had a return on equity of 4.08% and a net margin of 14.48%.The company had revenue of $292.92 million for the quarter, compared to the consensus estimate of $269.28 million. During the same period in the previous year, the business earned $0.54 EPS. ACM Research’s revenue for the quarter was up 36.0% compared to the same quarter last year. As a group, equities analysts anticipate that ACM Research, Inc. will post 1.68 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On ACM Research

Institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. lifted its stake in ACM Research by 2.3% during the second quarter. Contravisory Investment Management Inc. now owns 5,216 shares of the specialty retailer’s stock valued at $662,000 after purchasing an additional 115 shares during the last quarter. GAMMA Investing LLC raised its position in shares of ACM Research by 14.5% during the second quarter. GAMMA Investing LLC now owns 1,440 shares of the specialty retailer’s stock worth $183,000 after purchasing an additional 182 shares during the period. First Growth Capital LLC raised its position in shares of ACM Research by 5.4% during the first quarter. First Growth Capital LLC now owns 5,598 shares of the specialty retailer’s stock worth $226,000 after purchasing an additional 285 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of ACM Research by 266.7% during the fourth quarter. Hantz Financial Services Inc. now owns 660 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 480 shares during the last quarter. Finally, 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 valued at $94,000 after purchasing an additional 488 shares during the last quarter. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Company Profile

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.