Needham & Company LLC Reiterates Hold Rating for ACM Research (NASDAQ:ACMR)

ACM Research (NASDAQ:ACMR - Get Free Report)'s stock had its "hold" rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

Separately, Craig Hallum raised ACM Research from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $29.40.

ACM Research Stock Performance

ACMR traded down $1.63 during trading hours on Thursday, hitting $24.31. The company's stock had a trading volume of 1,852,970 shares, compared to its average volume of 1,654,274. The company has a 50-day simple moving average of $19.59 and a 200 day simple moving average of $18.68. The company has a current ratio of 2.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.40 billion, a PE ratio of 18.42 and a beta of 1.58. ACM Research has a fifty-two week low of $13.87 and a fifty-two week high of $33.72.

Insider Activity

In other news, insider Sotheara Cheav sold 22,598 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $23.00, for a total value of $519,754.00. Following the completion of the sale, the insider now owns 100,002 shares in the company, valued at $2,300,046. This represents a 18.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 31.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of ACM Research by 506.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,018 shares of the specialty retailer's stock valued at $30,000 after purchasing an additional 1,685 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in ACM Research during the fourth quarter worth approximately $33,000. Erste Asset Management GmbH acquired a new position in ACM Research in the third quarter worth approximately $37,000. Picton Mahoney Asset Management grew its position in ACM Research by 66.2% in the fourth quarter. Picton Mahoney Asset Management now owns 3,104 shares of the specialty retailer's stock worth $47,000 after buying an additional 1,236 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of ACM Research in the third quarter valued at $72,000. 66.75% of the stock is owned by institutional investors and hedge funds.

ACM Research Company Profile

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.