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

ACM Research, Inc. (NASDAQ:ACMR) shares gapped up prior to trading on Tuesday. The stock had previously closed at $44.15, but opened at $46.67. ACM Research shares last traded at $45.0220, with a volume of 136,282 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $100.00 price objective on shares of ACM Research in a research report on Monday, August 10th. Zacks Research downgraded ACM Research from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Daiwa Securities Group initiated coverage on ACM Research in a report on Wednesday, August 26th. They set a “buy” rating and a $136.00 target price on the stock. Finally, Weiss Ratings downgraded shares of ACM Research from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, ACM Research has a consensus rating of “Moderate Buy” and an average target price of $122.75.

ACM Research Stock Performance

The stock’s 50-day simple moving average is $67.78 and its 200-day simple moving average is $68.55. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 21.73 and a beta of 2.09. The company has a current ratio of 3.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.08.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings results on Friday, August 7th. The specialty retailer reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.19. The business had revenue of $292.92 million during the quarter, compared to analysts’ expectations of $269.28 million. ACM Research had a return on equity of 4.08% and a net margin of 14.48%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 earnings per share. Analysts forecast that ACM Research, Inc. will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In related news, insider David H. Wang sold 70,000 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Haiping Dun sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owned 5,000 shares in the company, valued at $405,650. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 24.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACM Research

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in shares of ACM Research by 407.8% during the 3rd quarter. Signaturefd LLC now owns 523 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 420 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of ACM Research by 195.2% in the second quarter. Harbor Investment Advisory LLC now owns 738 shares of the specialty retailer’s stock valued at $94,000 after buying an additional 488 shares during the period. NewEdge Advisors LLC raised its holdings in ACM Research by 381.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,087 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 861 shares during the last quarter. Nykredit A S bought a new stake in ACM Research in the second quarter valued at approximately $173,000. Finally, GAMMA Investing LLC lifted its position in shares of ACM Research by 14.5% in the 2nd 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. Institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

ACM Research, Inc (NASDAQ: ACMR) develops and manufactures equipment used in semiconductor wafer processing. Its systems are designed to support the fabrication of integrated circuits and other electronic components, with a primary focus on cleaning and other process steps performed during semiconductor manufacturing.

The company’s product portfolio includes single-wafer cleaning systems, wet-cleaning equipment, electrochemical plating systems, and other wafer-processing tools. These products are used by semiconductor manufacturers and foundries in applications involving advanced logic, memory, and specialty devices.