ACM Research (NASDAQ:ACMR) Sets New 52-Week High – Time to Buy?

ACM Research, Inc. (NASDAQ:ACMR)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $61.58 and last traded at $61.12, with a volume of 2418646 shares. The stock had previously closed at $58.12.

Analyst Upgrades and Downgrades

ACMR has been the subject of several analyst reports. Weiss Ratings raised shares of ACM Research from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Zacks Research raised ACM Research from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Roth Mkm restated a “buy” rating and issued a $40.00 price target on shares of ACM Research in a research note 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

ACM Research Stock Performance

The company has a market cap of $3.38 billion, a P/E ratio of 32.85 and a beta of 1.49. The company has a quick ratio of 2.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $44.77 and a two-hundred day simple moving average of $37.15.

ACM Research (NASDAQ:ACMR) last issued its quarterly earnings data 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 during 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%.ACM Research’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. On average, sell-side analysts anticipate that ACM Research, Inc. will post 1.17 EPS for the current year.

Insider Transactions at ACM Research

In other news, insider David H. Wang sold 70,000 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $33.06, for a total value of $2,314,200.00. Following the completion of the sale, the insider directly owned 802,708 shares of the company’s stock, valued at $26,537,526.48. This represents a 8.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lisa Feng sold 15,000 shares of ACM Research stock in a transaction 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 transaction, the insider owned 50,001 shares in the company, valued at approximately $1,688,533.77. This trade represents a 23.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 265,000 shares of company stock valued at $8,849,150 over the last quarter. 25.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ACM Research

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of ACM Research during the 3rd quarter valued at $886,000. Hussman Strategic Advisors Inc. acquired a new position in ACM Research during the 3rd quarter valued at about $2,054,000. State of Alaska Department of Revenue purchased a new stake in ACM Research in the third quarter valued at about $1,011,000. Congress Asset Management Co. raised its stake in ACM Research by 43.0% in the third quarter. Congress Asset Management Co. now owns 281,923 shares of the specialty retailer’s stock valued at $11,032,000 after buying an additional 84,747 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in ACM Research by 79.7% in the second quarter. Teacher Retirement System of Texas now owns 47,840 shares of the specialty retailer’s stock worth $1,239,000 after acquiring an additional 21,216 shares in the last quarter. Institutional investors own 66.75% of the company’s stock.

ACM Research Company Profile

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.