ACM Research (ACMR) Upgraded by Zacks Investment Research to “Hold”
ACM Research (NASDAQ:ACMR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Acm Research, Inc. develops, manufactures and sells single-wafer wet cleaning equipment, which semiconductor manufacturers can use in numerous manufacturing steps to remove particles, contaminants and other random defects. Acm Research, Inc. is headquartered in Fremont, California. “
Other equities research analysts have also issued reports about the company. Craig Hallum boosted their target price on ACM Research from $13.00 to $19.50 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Benchmark reissued a “buy” rating and set a $16.00 price target on shares of ACM Research in a research report on Wednesday, August 8th. Finally, ValuEngine raised ACM Research from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $17.13.
ACM Research (NASDAQ:ACMR) last announced its earnings results on Tuesday, August 7th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The company had revenue of $20.87 million for the quarter, compared to analyst estimates of $19.70 million. ACM Research had a return on equity of 14.90% and a net margin of 5.43%. Research analysts anticipate that ACM Research will post 0.25 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. acquired a new position in ACM Research during the second quarter valued at $162,000. Bank of New York Mellon Corp acquired a new position in ACM Research during the second quarter valued at $188,000. Northern Trust Corp acquired a new position in ACM Research during the second quarter valued at $877,000. Russell Investments Group Ltd. acquired a new position in ACM Research during the second quarter valued at $931,000. Finally, BlackRock Inc. acquired a new position in ACM Research during the second quarter valued at $4,335,000. 12.55% of the stock is currently owned by hedge funds and other institutional investors.
About ACM Research
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 of megasonic waves to deliver megasonic energy to flat and patterned wafer surfaces in a uniform manner on a microscopic level; timely energized bubble oscillation cleaning equipment for conventional two-dimensional and three-dimensional patterned wafers at advanced process nodes; and custom-made wafer assembly and packaging equipment.
Recommended Story: Risk Tolerance
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ACM Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACM Research and related companies with MarketBeat.com's FREE daily email newsletter.