ACM Research (NASDAQ:ACMR) Shares Up 9.4% – Time to Buy?

ACM Research, Inc. (NASDAQ:ACMR) shares shot up 9.4% on Friday . The company traded as high as $42.98 and last traded at $43.17. 165,017 shares were traded during trading, a decline of 85% from the average session volume of 1,126,498 shares. The stock had previously closed at $39.45.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ACMR shares. Weiss Ratings reissued a “buy (b-)” rating on shares of ACM Research in a research report on Monday. Zacks Research cut ACM Research from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Finally, Roth Capital reiterated a “buy” rating and set a $40.00 target price on shares of ACM Research in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.00.

ACM Research Stock Up 10.7%

The firm has a 50 day simple moving average of $36.32 and a two-hundred day simple moving average of $32.87. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 25.40 and a beta of 1.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.48 and a quick ratio of 2.48.

ACM Research (NASDAQ:ACMR) last posted its earnings results on Wednesday, November 5th. The specialty retailer reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). The business had revenue of $269.16 million for the quarter, compared to the consensus estimate of $251.72 million. ACM Research had a return on equity of 7.11% and a net margin of 13.30%.The business’s revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, sell-side analysts expect that ACM Research, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other ACM Research news, insider David H. Wang sold 70,000 shares of ACM Research stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $33.06, for a total value of $2,314,200.00. Following the completion of the transaction, the insider directly owned 802,708 shares of the company’s stock, valued at $26,537,526.48. The trade was a 8.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa Feng sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $33.77, for a total transaction of $506,550.00. Following the completion of the transaction, the insider directly owned 50,001 shares of the company’s stock, valued at approximately $1,688,533.77. The trade was a 23.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 265,000 shares of company stock worth $8,849,150 in the last 90 days. Company insiders own 25.00% of the company’s stock.

Hedge Funds Weigh In On ACM Research

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new stake in ACM Research in the 3rd quarter worth about $211,000. Danske Bank A S bought a new position in ACM Research during the third quarter valued at approximately $558,000. CANADA LIFE ASSURANCE Co lifted its stake in ACM Research by 679.4% in the third quarter. CANADA LIFE ASSURANCE Co now owns 45,036 shares of the specialty retailer’s stock worth $1,738,000 after purchasing an additional 39,258 shares during the last quarter. Caxton Associates LLP bought a new position in ACM Research during the 3rd quarter worth approximately $264,000. Finally, Dark Forest Capital Management LP increased its stake in shares of ACM Research by 60.6% in the third quarter. Dark Forest Capital Management LP now owns 24,096 shares of the specialty retailer’s stock worth $943,000 after buying an additional 9,094 shares during the period. Hedge funds and other institutional investors own 66.75% of the company’s stock.

About ACM Research

ACM Research, Inc (NASDAQ:ACMR) designs, develops and markets wet processing equipment for the semiconductor industry. The company focuses on advanced wafer cleaning technologies that address critical contamination-control requirements for logic, memory and advanced packaging applications. Since its founding in 2003, ACM Research has engineered modular platform tools that can be configured for a range of spin, scrub and batch cleaning processes.

Its product portfolio encompasses single-wafer spin cleaning systems featuring high-purity megasonic capabilities, dynamic chemical scrubbing modules for post-CMP residue removal and batch-process cleaning equipment designed for high-throughput production environments.