ACM Research (NASDAQ:ACMR) Reaches New 12-Month High After Analyst Upgrade

Shares of ACM Research, Inc. (NASDAQ:ACMR) reached a new 52-week high on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $45.43 and last traded at $44.4920, with a volume of 18533 shares traded. The stock had previously closed at $44.88.

A number of other brokerages have also issued reports on ACMR. Weiss Ratings reiterated a “buy (b-)” rating on shares of ACM Research in a research note on Monday, December 29th. Roth Capital reaffirmed a “buy” rating and issued a $40.00 price objective on shares of ACM Research in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Insider Activity at ACM Research

In other news, insider David H. Wang sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $34.12, for a total transaction of $2,047,200.00. Following the sale, the insider owned 802,708 shares of the company’s stock, valued at $27,388,396.96. The trade was a 6.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Fuping Chen sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $33.06, for a total value of $661,200.00. The disclosure for this sale is available in the SEC filing. Insiders sold 265,000 shares of company stock worth $8,849,150 over the last 90 days. Company insiders own 25.00% of the company’s stock.

Institutional Investors Weigh In On ACM Research

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of ACM Research by 12.8% in the third quarter. Vanguard Group Inc. now owns 4,846,413 shares of the specialty retailer’s stock worth $189,640,000 after acquiring an additional 549,971 shares during the last quarter. LSV Asset Management increased its position in ACM Research by 462.9% during the 3rd quarter. LSV Asset Management now owns 2,504,305 shares of the specialty retailer’s stock worth $97,993,000 after purchasing an additional 2,059,405 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in ACM Research by 39.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,302,351 shares of the specialty retailer’s stock worth $59,631,000 after purchasing an additional 649,116 shares in the last quarter. Triata Capital Ltd lifted its holdings in ACM Research by 26.0% in the 3rd quarter. Triata Capital Ltd now owns 2,003,225 shares of the specialty retailer’s stock valued at $78,386,000 after purchasing an additional 413,000 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of ACM Research by 32.5% during the 2nd quarter. Federated Hermes Inc. now owns 1,421,688 shares of the specialty retailer’s stock worth $36,822,000 after purchasing an additional 348,936 shares during the last quarter. Institutional investors and hedge funds own 66.75% of the company’s stock.

ACM Research Price Performance

The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 27.27 and a beta of 1.46. The company has a current ratio of 3.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.10. The company’s 50 day simple moving average is $36.57 and its 200-day simple moving average is $33.41.

ACM Research (NASDAQ:ACMR) last announced its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). ACM Research had a net margin of 13.30% and a return on equity of 7.11%. The firm had revenue of $269.16 million for the quarter, compared to analysts’ expectations of $251.72 million. During the same period in the previous year, the company posted $0.63 EPS. The business’s quarterly revenue was up 32.0% on a year-over-year basis. On average, equities research analysts predict that ACM Research, Inc. will post 1.17 earnings per share for the current fiscal year.

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.