ACM Research, Inc. (NASDAQ:ACMR - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $18.95, but opened at $21.29. ACM Research shares last traded at $20.25, with a volume of 799,058 shares changing hands.
Analyst Ratings Changes
Several analysts recently commented on ACMR shares. Benchmark restated a "buy" rating and issued a $38.00 target price on shares of ACM Research in a research report on Wednesday, August 7th. Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of ACM Research in a research report on Tuesday, October 1st. Finally, Roth Mkm lowered their target price on ACM Research from $40.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th.
Check Out Our Latest Stock Analysis on ACMR
ACM Research Trading Up 8.7 %
The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 16.35 and a beta of 1.54. The firm has a 50-day moving average price of $18.72 and a 200-day moving average price of $21.02. The company has a current ratio of 2.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.07.
ACM Research (NASDAQ:ACMR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.25. ACM Research had a return on equity of 9.16% and a net margin of 12.26%. The company had revenue of $202.50 million for the quarter, compared to analysts' expectations of $163.05 million. During the same period last year, the firm earned $0.45 EPS. The firm's revenue for the quarter was up 40.0% on a year-over-year basis. As a group, sell-side analysts predict that ACM Research, Inc. will post 0.92 EPS for the current year.
Insider Activity
In related news, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the transaction, the director now directly owns 3,430,206 shares in the company, valued at $69,255,859.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Xiao Xing sold 8,304 shares of ACM Research stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $20.19, for a total value of $167,657.76. Following the transaction, the director now directly owns 3,430,206 shares in the company, valued at $69,255,859.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Mckechnie sold 16,516 shares of ACM Research stock in a transaction on Friday, October 4th. The stock was sold at an average price of $22.00, for a total value of $363,352.00. Following the completion of the transaction, the insider now owns 900 shares in the company, valued at $19,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,116,516 shares of company stock worth $24,573,590. 31.24% of the stock is owned by company insiders.
Hedge Funds Weigh In On ACM Research
A number of hedge funds have recently modified their holdings of ACMR. BNP Paribas Financial Markets grew its holdings in shares of ACM Research by 226.5% during the first quarter. BNP Paribas Financial Markets now owns 60,531 shares of the specialty retailer's stock valued at $1,764,000 after buying an additional 41,989 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of ACM Research during the first quarter valued at $624,000. Quantbot Technologies LP purchased a new position in shares of ACM Research during the first quarter valued at $443,000. SG Americas Securities LLC purchased a new position in shares of ACM Research during the first quarter valued at $196,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of ACM Research during the first quarter valued at $753,000. 66.75% of the stock is currently owned by institutional investors and hedge funds.
About ACM Research
(
Get Free Report)
ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.
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