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

ACM Research, Inc. (NASDAQ:ACMR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $15.49, but opened at $16.50. ACM Research shares last traded at $17.78, with a volume of 636,781 shares traded.

Wall Street Analyst Weigh In

ACMR has been the subject of several recent research reports. Needham & Company LLC cut ACM Research from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Wednesday, December 4th. Craig Hallum cut ACM Research from a “buy” rating to a “hold” rating and decreased their price target for the company from $30.00 to $18.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

ACM Research Price Performance

The business has a 50 day simple moving average of $16.57 and a two-hundred day simple moving average of $18.42. The firm has a market capitalization of $1.03 billion, a P/E ratio of 13.55 and a beta of 1.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.34 and a current ratio of 2.37.

ACM Research (NASDAQ:ACMR) last posted its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.35. ACM Research had a net margin of 12.38% and a return on equity of 9.07%. The company had revenue of $204.00 million for the quarter, compared to analysts’ expectations of $191.18 million. During the same period in the prior year, the business earned $0.41 earnings per share. ACM Research’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, sell-side analysts expect that ACM Research, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at ACM Research

In other news, insider David H. Wang sold 56,250 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $19.08, for a total transaction of $1,073,250.00. Following the transaction, the insider now directly owns 710,506 shares of the company’s stock, valued at approximately $13,556,454.48. This trade represents a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Haiping Dun sold 15,000 shares of ACM Research stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $19.12, for a total value of $286,800.00. Following the completion of the transaction, the director now owns 774,148 shares in the company, valued at approximately $14,801,709.76. This represents a 1.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,500 shares of company stock worth $2,366,363 over the last ninety days. Insiders own 31.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACMR. Cim LLC lifted its stake in shares of ACM Research by 8.6% in the 2nd quarter. Cim LLC now owns 16,788 shares of the specialty retailer’s stock valued at $387,000 after purchasing an additional 1,326 shares during the period. Sei Investments Co. boosted its stake in ACM Research by 6.7% in the 2nd quarter. Sei Investments Co. now owns 21,736 shares of the specialty retailer’s stock worth $501,000 after purchasing an additional 1,358 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in ACM Research by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 19,454 shares of the specialty retailer’s stock worth $449,000 after buying an additional 1,382 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of ACM Research in the third quarter worth approximately $37,000. Finally, Commonwealth Equity Services LLC increased its position in shares of ACM Research by 15.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,628 shares of the specialty retailer’s stock valued at $337,000 after acquiring an additional 1,970 shares in the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.

ACM Research Company Profile

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 shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.